MAKAN AGRO OILS LTD.
To The Members,
Yours Directors have pleasure in presenting the Second Annual Report together
with the Audited Accounts of the Company for the period ended 31st March,
Your Directors are pleased to inform you that the Company has started ts
commercial production on 16th March, 1994 and during a short span of 16 days
working. your Company has made a turnover of Rs.53.61 lacs and made a net
profit after interest and depreciation of Rs.70,953.
As during the year 1993-94, the working of the Company is only for 16 days
and though the Company has made a profit of 0.71 lacs, your Directors regret
their inability to recommend the dividend.
The Allotment of the First Publtc Issue was made on 6th August, 1993 for
72,97,900 Equity Shares @ Rs.10/- each and your Directors are thankful to all
the shareholders of the Company for the response given to the first Public
Issue of the Company.
Your Directors feel very happy to inform you that the Com pany has
successfully completed its project of Solvent Extraction Plant at Kota in
time without any cost overrun and started ts commercial operation on 16th
March, 1994. During the short span of 16 days, the Company processed Soyabean
Seed and made a net protit of Rs.70,935/- on a turnover of Rs.53.61 Lacs.
Yours Directors are very pbased to inform you that from internal resources
only your Company has increased the installed capacity of its Solvent
Extraction Plant from 300 ton per day to 400 ton per day ot Soyabean and with
your support it is further planning to increase it to 1000 ton per day.
Sh. Manjit Singh and Sh. K.C. Sodhia, Directors ot the Company, retire from
the office by rotation and being eligible,. offer themselves for re-
Sh. T.S. Sethurathnam was appointed as Additional DireGtor on the Board of
the Company and as such hold the office upto the conclusion of the ensuing Annual General Meeting. Notice has been received under .Section 257 of the
Companies Act, 1956 proposing his randidature to the office of the Directors
of tl1e Company. The Director commend their appointment.
Sh. M.P. Mehrotra, also appointed as Additional Director, resigned from the
Directorship of the Company The Directors wish to place on record their
thanks and sincere appreciation of the valuable advice and guidance provided
by him during his tenure as Director of the Company.
M/s. Bansal Mangal & Associates, Auditors of the Company, retire at the
Annual General Meeting and are eiigible for re-appointrnent and have given
their consent for re-appointment.
The Company's fixed assets are fully insured against various risks and are
therefore adequately covered.
PARTICULRS OF EMPLOYEES
As required by the Provision of Section 217(2A) of the Companies Act, 1956
particular of Employees Rule, 1988 and amendments made from time to time, the
names and the particulars of the employees are NIL.
ENERGY, TECHNOLOGY & FOREIGN EXCHANGE
Information in accordance with the Provisions of Section 217(1)(e) of the
Companies Act, 1956 read with Companies (Disclosure of particulars in the
Report of Board of Directors) Rules, 1988 is given in Annexure-A to the
The Directors wish to record their sincere appreciation to the Financial
Institutions. Bankers and State & Central Govt. Authorities for their co-
operation extended to the Company from time to time.
The Directors also wish to place on record their appreciation for the
services rendered by the staff and the workers for the smooth operation of
By Order of the Board of Directors
(Davinder Singh Makan)
Date : 28th Nov., l994
ANNEXURE "A" TO THE DIRECTORS REPORT
Particulars as required under Companies .(Discbsure of particulars in the
Report of Board of Directors) Rules, 1988 and forming the part of the Directors Report for the year ended 31st March, 1994.
1. Research and Development. N.A.
2. Technology, Absorption, Adaptation We woukd be using indigenous
and Innovation. expander technology.
3. Foreign Exchange Earnings and Outgo. NIL.