KENGOLD (INDIA) LIMITED
ANNUAL REPORT 2000-2001
KENGOLD (INDIA) LIMITED
Your Directors are presenting the 8th Annual Report together with the
audited Accounts of your Company for the period ended 30th June, 2001.
Your Company posted a turnover of Rs. 3706.95 Lacs showing an increase of
741.40 Lacs over the previous year on pro-rata basis. Even though the
production and sales showed an upward trend quantitatively relative to
previous year the huge import of edible oils in the market exerted
pressure on the selling price. The price realizations gradually slided and
once again hit the bottom during the period under report.
PROJECT AND PERFORMANCE.
The Project of the Company at Naroda could not operated upto satisfactory
revel during the period under review, due to the changes in the Govt.
policies, Import Export Policies and heavy import of edible oils has
adversely affected the domestic crushing and refining units like your
company. The unit of the company at Sanand also could not worked well due
to non availability. of raw materials of standard quality from the
Saurashtra region affected by poor monsoon.
Since there is no employee in the Company drawing monthly salary of Rs.
1,00,000/- p.m. or more and hence the provisions of Section 217(2A) of the
Companies Act, 1956 are not, applicable.
MATTER REQUIRED TO BE REPORTED AS PER COMPANIES (DISCLOSURE OF PARTICULARS
IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988
A, CONSERVATION OF ENERGY
Information on conservation of energy, required to be disclosed under
Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of particulars in the report
of the Board of Directors) Rules, 1988 are provided as an Annexure to this
B. TECHNOLOGY ABSORPTION
The Company is having its own Laboratory and R & D is being carried on its
products with continuous efforts to improve technology to reduce the cost
of production and product development. During the period under report your
company has not imported any technology.
C. FOREIGN EXCHANGE EARNING AND OUTGO:
Mr. M. M. Patel being longest in the office of director shah retire from
office by rotation at the forthcoming Annual General Meeting and being
eligible offers himself for reappointment. Mr. K. M. Bekshi and Mr. S. R.
Shah, directors have resigned from the Board during the period under
M/s. Dinesh R. Thakkar & Co. Chartered Accountants Ahmedabad the Auditors
of the Company retires at the conclusion of the forthcoming Annual General
Meeting and being eligible offers themselves for reappointment.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to sub-section (2AA) of Section 217 of the Companies Act, 1956,
the Board of Directors of the Company hereby state and confirm that:
(i) in the preparation of the Annual Accounts, the applicable accounting
standards had been followed along with proper explanation relating to
(ii) the Directors had selected such accounting policies and applied them
consistently and made judgements and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the
Company at the end of the period and of the profit of the Company for that
(iii) the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities;
(iv) the Directors had prepared the annual accounts on a going concern
Your Directors take this opportunity to express their grateful appreciation
for the co-operation and assistance received from the Central Government
and the a Government of Gujarat, the Financial Institutions, Banks as well
as the shareholders during the year under review. Your Directors also wish
to place on record their appreciation, of the devoted and dedicated
services rendered by all employees of your company.
For and on behalf of the Board
Place: Ahmedabad A. A. ANDANI
Date : 20.11.2001 (Chairman & Managing Director)
ANNEXURE TO DIRECTORS' REPORT
INFORMATION UNDER CLAUSE 49 OF THE LISTING AGREEMENT
a) De-listing:- No application for de-listing the Company's securities has
been made to any of the Stock Exchanges.
b) Suspension in Trading:- Trading in the Company's securities has not been
suspended for any reason during the period under review.
c) Listing Fees : The arrears of listing fees payable as on 30.06.2001 to
the various Stock Exchanges has since been paid, except Rs. 10,500/-
payable to Madras Stack Exchange Ltd.