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. () - Director Report

Company director report

1995 GOA AGRO OILS LIMITED DIRECTOR'S REPORT Your directors have pleasure in presenting their Ninth Annual Report and Audited Accounts of the Company for the year ended on 31st March 1995. OPERATION: The company had declared the commencement of commercial production in 1993- 94 and accordingly accounts were prepared on that basis for the year ended 31st March, 1994. Due to technical snags developed during the year, the company was forced to go for major alteration in the existing plant and in detailed engineering and to replace certain vital equipments. Consequently the plant remained idle for greater part of the year and production was not extracted on a continuous basis. We are happy to inform you that now plant is ready for production and we are negotiating with various parties for production and marketing tie ups which is expected to finalise by another 2 to 3 months. DIRECTORS: Mr. S. K. Bangera & Mr. P. Sundar Iyer retire at the ensuing Annual General Meeting and are eligible for re-appointment. AUDITORS: M/s. Sadashiv & Co.. Chartered Accountants, Auditors of the Company retire at the ensuing Annual General Meeting and are eligible for re-appointment. FIXED DEPOSIT: The Company has not accepted any deposits from Public and as such, there are no outstanding deposits in terms of the companies (acceptance of Deposits) Rule 1975. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO. Pursuant to the provision of Section 217(1)(e) of the Companies Act, 1956, read with Companies (Disclosure of particulars in the Report of the Board of Directors) Rules, 1988, full particulars are given in the Statement as Annexure 'A" which forms a part of this Report. PERSONNEL: There are no employees covered under the provisions of section 217 (2A) of the companies Act, 1956. ANNEXURE TO THE DIRECTORS REPORT COMPANIES (DISCLOSURE OF PARTICULARS. IN THE REPORT OF BOARD OF DIRECTORS) RULES 1988 I. CONSERVATION OF ENERGY Energy conservation an on going activity of the company is receiving major attention in all operations. Continuous endeavors are being made to identify new areas of saving of electric power and petroleum oil products Including fuel oil. Efforts were made to run plant continuously. 80 that effective utilisation of steam and electricity will be better, leading to saving of fuel oil and electricity. DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY: A. Power and fuel consumption: Current Previous Year Year 1. Electricity: a. Purchased: - units (kwh) 291940 283888 Total amount (Rs.) 677236 759242 Rate per unit 2.32 2.67 b. Own generation i) Through diesel generation Units -- -- Units per Itr. of diesel oil -- -- Cost per unit -- -- ii) Through steam turbine/generator Units Units per Itr. of fuel oil/gas -- -- Cost per unit -- -- 2. Coal (Specify quality and where used) Quantity (mts.) -- -- Total Cost -- -- Average rate -- -- 3. Furnace oil Quantity (kls) 185.238 68 Total Cost 1100793 402486 Average rate 5942.59 5058.89 4. Others/lnternal generation Quantity Total Cost -- -- Average rate -- -- B. Consumption per unit of production: Products: Refined Rice Bran oil, Free Fatty acid and Soap stock Standards Current Previous if any year year Electricity (kwh/mt) -- 531 2235 Furnace oil (Itr./mt.) -- 337 535 Coal -- -- -- Others -- -- -- II. TECHNOLOGY ABSORPTION: Disclosure of particulars with respect to absorption: RESEARCH AND DEVELOPMENT: 1. Specific areas In which R & D carried out by the Company: - New product development - Cost reduction - Quality Improvement 2. Benefits derived as a result of the above R & D: - Enriched product mix to maximise profit. - Improvement In quality leading to better acceptance of product in the market. - New dewaxing system, Better methods of colour removal have been introduced. 3. Future plan of action: Through systematic R & D efforts the company has ambitious future plans for product, process and application developments cost saving and Improvement in quality and recovery. 4. Expenditure on R & D: Rs. (a) Capital -- (b) Recurring 37,250 (c) Total 37,250 (d) Total R & D expenditure as a percentage of total turnover 0.24 TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION: 1. Efforts made: All efforts are made by the R & D department to keep Itself abreast of latest technology and products of relevance. 2. Benefits derived: The most significant benefits achieved as a result of the above are cost effectiveness and quality Improvement. lt has also helped to Improve the market base. III. FOREIGN EXCHANGE EARNINGS AND OUT GO: There were no foreign exchange earnings and out go during the year. By Order of the Board of Directors S.K. BANGERA VICE CHAIRMAN Place : Bombay. Dated : 4th September, 1995.