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Makan Agro Oils Ltd.

BSE: 519246 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Makan Agro Oils Ltd
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Makan Agro Oils Ltd. (MAKANAGROOILS) - Director Report

Company director report

1994 MAKAN AGRO OILS LTD. DIRECTORS' REPORT 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, 1994. FINANCIAL RESULTS 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. DIVIDEND 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. SHARE CAPITAL 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. OPERATIONS 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. FUTURE PLANS 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. DIRECTORS 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- appointment. 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. AUDITORS 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. INSURANCE 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 Directors Report. ACKNOWLEDGEMENTS 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 the Company. By Order of the Board of Directors (Davinder Singh Makan) Managing director Place: Delhi 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.