Kabra Agro Industries Ltd.
||ISIN Code: N.A.
05:30 | 01 Jan
Kabra Agro Industries Ltd
05:30 | 01 Jan
Kabra Agro Industries Ltd
Kabra Agro Industries Ltd. (KABRAAGROINDS) - Director Report
Company director report
KABRO AGRO INDUSTRIES LIMITED
TO THE MEMBERS
Your directors present their 17th Annual Report together with the accounts
for the financial year ended 31st March, 1998.
PERFORMANCE AT A GLANCE
During the year under review your Company has made a settlement with M.P.
State Industries Development Corporation Limited who has taken over the
industrial unit in 1994 under Section 29 of SFC Act by one time settlement
at the Hon'ble High Court of Judicature at Jabalpur & the payment spread
over the next 51 months, against all the institutional & Bank liabilities
and was able to get back the possession of the unit on 1.8.1997. After the
overhauling, repairs and with modifications, the production was started on
its won on 23.11.97 and subsequently the job work was undertaken with APR
Ltd. (an unit on BILT Group).
The Company was able to turn the corner. The performance would have been
better had the extended rains would not have spoiled the beans.
The Directors has formed the opinion that the Company is Sick Industrial
Company within the meaning of clause (o) of Subsection (1) of Section 3 of
Sick Industrial Companies (Special Provision) Act, 1985 as reported by
Auditors also in their report and are making reference to BIFR for determi
nation of measures which shall be adopted with respect to the Company. The
crop so far is excellent and the company hopes to turn the corner during
the year. Conservation of Energy, Technology Absorption and Foreign Ex
change Earnings and outgo: The relevant data is given in the Annexure
forming part of this report.
Shri Balkrishna Kabra retires by rotation in accordance with Article 128 of
the Articles of Association of the Company and being eligible, offer him
self for reappointment.
R.C. Baheti & Co., Auditors of the Company retire and being eligible offer
themselves for reappointment.
PARTICULARS OF EMPLOYEES
Since no employees of the Company has been drawing more than Rs. 25,000/-
pm or Rs. 3,00,000/- per annum during the period, section 217(2-A) of the
Companies Act is not applicable.
Your Directors place on record their appreciation for the continued support
extended by suppliers, customers, MPSIDC Ltd. & State Bank of Indore during
the year under review.
for and on behalf of the Board
Place : Piparia Bhagwan Das Kabra
Dated : 31.07.1998 Chairman & Managing Director
ANNEXURE TO THE REPORT OF THE BOARD OF DIRECTORS TO THE MEMBERS OF KABRA
AGRO INDUSTRIES LIMITED IN ACCORDANCE WITH SECTION 217(1)(8) OF THE COMPA
NIES ACT, 1956 READ WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE
REPORT OF THE BOARD OF DIRECTORS) RULES, 1988 AND FORMING PART OF THE
DIRECTOR'S REPORT FOR THE YEAR ENDED 31ST MARCH, 1998.
A) CONSERVATION OF ENERGY
(i) Energy Conservation measures taken Company is monitoring the energy
consumption. Transmission losses of power and heat losses are minimised by
operating at high power factors and providing adequate insulation respec
(ii) Additional investment and proposal, if any, being implemented for
reduction of consumption of energy:-
No additional investment has been made. The conservation of boiler to
fluidised system has been deferred due to shortage of long-term finance
sources available with the company presently.
(iii) Impact of measures (i) & (ii) above for reduction of energy consump
tion and subsequent impact on the cost of production of goods:-
The results of measures are under constant review and it is expected that
benefits will accrue to the Company under normal course.
(iv) Total energy, energy consumption and energy consumption per unit of
RESEARCH & DEVELOPMENT (R&D)
1) Specific Areas in which R&D carried out by the Company:-improving
2) Benefits derived as a result of the above R&D D:- Better consumer ac
3) Future plan of action:-
Reduction in the cost of chemicals.
4) Expenditure on R&D:
a) Capital It has not been
(b) Recurring accounted for
(c) Total separately.
(d) Total R&D
% of turnover
TECHNOLOGY ABSORPTION, ADAPTION AND INNOVATION:
i) No significant progress has been made for adoption of any technology.
Efforts were made for improving product quality.
ii) There was an improvement in the quality of the product manufactured by
iii) Not technology has been imported by the Company.
FOREIGN EXCHANGE EARNINGS & OUTGO:
Foreign Exchange Used Nil
Foreign Exchange Nil
For and on behalf of the Board of Directors.
Place:Piparia Bhagwan Das Kabra
Dated: 31.07.98 Chairman & Managing Director
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