ANNUAL REPORT 2000-2001
MANUGRAPH INDUSTRIES LIMITED
Ladies and Gentlemen
I welcome you all to this 29th Annual General Meeting of the Company.
The Directors' Report and the audited Accounts of the Company have been
with you for some time now, and with your consent, I will take them as
Current year's operation:
The Net sales and income from operations were at Rs. 101.55 Crores for the
year ended March 2001 though two of the main units at kolhapur were on
strike for 90 days from 15th December 2000 to 15th March 2001 on account
of the Wage Agreement. The new agreement has now signed till March 2004.
The 9months achievement of Rs 101.55 crores when annualized shown an
increase of 21% as compared to Rs. 111.58 Crores for the corresponding
period of the last year. The domestic market sales increased from Rs. 68.25
crores to Rs. 70.67 crores for the year ended 31st March 2001.
The Profit before tax for the year ended 31st March 2001 was at Rs. 4.32
crores as against Rs. 2.57 crores in the corresponding period in 2000. This
is the reflection of the efforts to reduce the Employee related expenditure
by the Two VRS offered in the past and reduction in Interest cost.
Activities at Unit 3, which is exclusively engaged in supply of components
parts to a leading Overseas manufacturer, has to be suspended due to
cancellation of future business. Compensations were paid to 65% of the work
force which resigned and the balance 35% were absorbed in unit 1 and Unit
The First UNISET 60, the next generation machine obtained through the
license agreement through MAN Roland is to be installed by January 2002.
The first sale through the historic agreement is expected to move out of
the factory around October/November 2001.
Inspite of adverse conditions, the Company was able to achieve a moderate
performance due to Customers acceptance of our hi tech machines with add on
features and computer controls. Our ongoing policy to control cost has come
in handy to retain the market. The company's first four months' performance
is approximately Rs. 33.36 crores which is at par compared to Rs. 33.70
crores which is at par compared to Rs. 33.70 crores in the corresponding
period in the last year. The order booking, despite the hostile market
forces, continues to be satisfactory for both export and domestic markets.
With this our Company is confident of achieving atleast the anticipated
targeted of Rs. 125 crores for the current year.
The Board of Directors have recommended 12 % dividend. In order to increase
the Shareholders value we are proposing the buy back of our equity shares
to the maximum extent of 25 % as permitted by SEBI at price not exceeding
Rs. 30 per shares initially through the . We will be
approaching you soon with this agenda as per the guidelines laid down by
I take this opportunity to thank all our employees and workers for their
continued whole hearted support and co-operation and extend my sincere
thanks to my fellow Board Members, Bankers, Financial Institutions for
their support and valuable guidance from time to time.