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Larite Industries Ltd.

BSE: 512325 Sector: Health care
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Larite Industries Ltd
NSE 05:30 | 01 Jan Larite Industries Ltd

Larite Industries Ltd. (LARITEINDS) - Director Report

Company director report

1995 LARITE INDUSTRIES LIMITED DIRECTORS REPORT Your Directors have pleasure in placing before you their Report, Audited Statement of Accounts for the year ended 30th June, 1995. FINANCIAL HIGHLIGHTS During the year under review, Sales have increased to Rs. 12,29,93,366 from Rs. 6,82,53,527 in the previous year. Profit before tax has increased to Rs. 64,33,966 from Rs. 43,90,628 in the previous year. Profit after tax has increased to Rs. 63,67,533 from Rs. 43,55,275 in the previous year. DIVIDEND The Company has earned good profits hence your Directors recommend 20% dividend. FUTURE PROSPECTS The prospects of the Company, are exceptionally good not only because of the above important reasons, but also due to certain crucial factos, as listed below : 1. The products that are planned to be marked are Innovative and High Technology Area. 2. The products that are to be manufactured do not fill under the purview of Drug Price Control Order (DPCO). 3. The Company has planned to go in for exports which will give adequate returns in the short term. PERSONNEL The provisions of Section 217 (2A) of the Companies Act, 1956, are not applicable to the Company. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGOING The Company has continued its efforts in conserving Energy for carrying out the manufacturing activities by using fuel efficient and modern technology available. The Company does not have any Foreign Exchange earnings nor any outgo. DIRECTORS Dr. J.J. Nerurkar retires by rotation and being eligible, offers himself for re-appointment. Dr. R Srinivasan has resigned from the Board of Directors due to his preoccupation. The Board places on record its sincere appreciation for advice and guidance given by him during his tenure as a Director. AUDITORS The Auditors, M/s. Kamlesh Prajapati & Associates retire at this Annual General Meeting and have given their consent for re-appointment. ACKNOWLEDGMENT Your Directors place on record appreciation towards the employees for their hard work and co-operation. We thank Bankers, Union Bank of India (Oshiwara Branch) for their continued assistance and guidance. We also thank our Suppliers for their timely assistance. For and on behalf of the Board of Directors Tejash Shah Pratik Dhruv Director Director Place : Bombay, Dated : 11th August, 1995.