GRAN HEAL PHARMA LTD.
ANNUAL REPORT 1999-2000
To the Members,
GRAN HEAL PHARMA LTD.
Your Directors have pleasure in presenting the EIGHTH ANNUAL Report along
with the Audited Accounts of the Company for the year ended 31st March,
REVIEW OF OPERATIONS
The Company has launched a new ETHICAL DIVISION. This division, which began
its operations in Mumbai, has a large & dedicated field force. The last
quarter of the calander year will see the expansion activities in Gujarat
and Maharashtra and by the next six month, we plan to cover half of India.
Our OTC division is also expanding in MP Delhi, Bihar, Calcutta, and other
places. In this division, we plan to bring some need base products in
Cosmetics, which will certainly give the Company a new image. Once this new
face-lift has been established, substantial Sales growth will be ensured.
We will be one of the Companies in the industry where IT has total control
over field, administration and distribution. All these achievements will
not only help us to achieve new heights, but also will make our
organisation more focused on each activity.
In view of the contemplated expansion plans of the company the directors
consider it necessary to invest the internal accruals towards the proposed
expansion and hence no dividend is recommended for the year under review.
ENERGY, TECHNOLOGY, & FOREIGN EXCHANGE
As required by the Companies (Disclosure of particulars in the Report of
Board of Directors) Rules, 1988, the relevant information pertaining to
conservation of energy, technology absorption and foreign exchange earnings
and out go are furnished hereunder.
(a) Conservation of energy : The nature of operations of the company's
manufacturing activities not being energy intensive, the impact of energy
saving devices is insignificant. The company continues its efforts to
improve methods of energy conversation & utilisation.
(b) Technology Absorption : Research and development is an ongoing process
undertaken for quality upgradation, product enhancements, development of
new products & cost effectiveness.
(c) Foreign exchange earnings and out go : Earnings in foreign exchange
during the year were Nil and Foreign Exchange out goes were Rs.2,82,964.00
for foreign travelling.
The company has not accepted any fixed deposits from the public.
During the year under review, there was no employee drawing salary in
excess of the limits prescribed under Section 217(2A) of the Companies Act,
1956 and the Rules prescribed thereunder.
Shri Praveen Agarwal retires by rotation from the Board and being eligible
offers himself for reappointment.
The Present Auditors M/s. Kamlesh B. Mehta & Co., Chartered Accountants,
Auditors of the Company, retire at the conclusion of this Annual General
Meeting and are eligible for reappointment.
STATUS OF Y2K COMPLIANCE
The Y2K transition was smooth without any disruption to the operations of
CASH FLOW STATEMENT
Cash Flow Statement pursuant to Clause 32 of the listing agreement is
annexed to the accounts and forms part of this report.
Your Directors wish to place on record their appreciation for the sincere
services rendered by the employees of the Company at all levels and for the
continuous support and cooperation of Bankers, Institutions, Investors and
FOR & BEHALF OF THE BOARD
DR. KISHORE HARBADA
2nd September, 2000.