JMD ALLOYS LIMITED
ANNUAL REPORT 1999-2000
The Members of
Your Directors have the pleasure in presenting the 6th Annual Report
together with the Audited Statement of Accounts for the year ended on 31 st
Review of operations and financial results
The total income for the year was Rs.84707489.60. The company earned a net
loss of Rs.24752297.55 after charging depreciation Rs. 8462342.00. Your
directors are hopeful of better results in the forthcoming years.
Board of Directors
There has been no change during the year in the constitution of the Board
of Directors of the Company.
Particulars of Employees
There is no employee in respect of whom particulars pursuant to Section
217(2A) of the Companies Act, 1956 are required to be given.
M/s. Sunil Banka & Associates, Chartered Accountants retire at the
conclusion of the ensuing Annual General Meeting of the Company & being
eligible offer themselves for being re-appointed.
Conservation of Energy, Technology absorption. Foreign Exchange earnings
a) Conservation of energy
Details of conservation of energy pursuant to Section 217(1) (e) of the
Companies Act, 1956 read with Companies (Disclosure of particulars in the
report of Board of Directors) Rules, 1988 are as under :-
It is to be noted that priority is continuously being accorded to the
matter of closely monitoring the consumption of power with the object of
conservation of energy. The company is taking reasonable steps to achieve
1) Technology absorption
No technology has been absorbed or imported by the company.
2) Foreign exchange earnings and outgo
There were no foreign exchange earnings and outgo during the year.
The company has been cognisant of the Y2K issue for quite sometime and has
planned and taker appropriate and effective steps to address it. It has
become Y2K compliant in the current financial year Besides, there are
contingency plans to ensure continuity of its operations without
disruption, in case of any unlikely events.
Your Directors acknowledge the trust reposed in your company by its
Shareholders, Bankers, Business Associates and Clients. Your Directors
place on record their sincere appreciation of the valuable contribution
made by the staff members of the company.
For On behalf of the Board
Place: Patna (Sanday Gupta)
Date: 5th day of September, 2000 Executive Director.