NUBAL (INDIA) LIMITED
ANNUAL REPORT 1999-2000
The Board of Directors of your Company have pleasure in presenting the
Ninth Annual Report of the Company and the Audited Statement of Accounts
for the year ended 31st March 2000.
BUSINESS OPERATIONS & FUTURE PROSPECTS :-
Your company registered a growth of 45% during the last financial year and
the Turnover of the company rose to Rs.419.54 lacs for the year ending 31st
March 2000 against Rs.288.51 lacs in the previous year. This was possible
due to the fact that the company took up vigorous marketing efforts for its
products in virgin markets of Asia and the USA. We are pleased to place on
record that the company during the last financial year has manufactured and
exported advanced Conveyorised Wet Proces systems and these machines were
manufactured for the first time in the country.
The new products manufactured by us have used the latest in Information
Technology and the process control systems so developed have added
substantial value to our products due to the inherent competitive nature of
the Indian Software industry. We hope to use this advantage decisively in
the future to improve the profitability and the competitiveness of your
During the current financial year, the company is planning a new tie up to
enter into related areas for increasing its product range and hopefully an
important tie up will be announced later this year.
The company will be placing an application before the Reserve Bank of India
shortly for permission to set up a Marketing Office in the USA, which has
been identified as a major market for your company's products.
Your company has identified its core business strengths, has the right
technological tie-ups, created the necessary infrastructure and its
competent human resources are bound to take the company forward in the days
It will be our endeavour to build on our present performance and we are
confident of meeting the expectations of our customers and shareholders, by
utilizing all our strengths optimally and being futuristic in our outlook.
Further our collaborator M/s. NEL U.K. has shown interest to fund to the
tune of Rs.57.56 lacs which will help the company to negotiate and compete
the deals in a better way.
During the year Mr. Harish Kumar Gupta and Mr. Vimal Poddar resigned from
the directorship of the company. The board places its warm regards for the
services rendered to the company during their tenure.
Mr. B.C. Seetharam and Mr. Surendra Gupta retire at the Ninth Annual
General Meeting and being eligible offer themselves for re appointment.
Yours Company's auditors M/s. Kuruvilla & Kuruvilla, Chartered Accountants,
Chennai will retire at the ensuing Annual General Meeting and have
confirmed their eligibility and willingness to accept the office, if re-
There were no employees drawing Rs.50,000/- p.m. or Rs.600,000/- p.a. and
thus information as per Section 217 of the Companies act, 1956 read with
companies particular of employees Rules 1975 does not arise.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
Particulars (as required under Section 217 (1) (e) of the Companies Act,
1956) in respect of Conservation of Energy and Technology are given in the
Annexure and form part of this report.
The Board of Directors wish to place on records their sincere thanks to the
Bankers, SIPCOT Nubal Electronics Ltd., U.K. for their valuable support and
The Board of Directors takes this opportunity to thank the shareholders and
customers for the confidence reposed by them on the company and also wish
to place on record their appreciation for the Services and untiring efforts
of the employees at all levels, which have helped the Company to achieve
Place : Chennai S. SURENDRA GUPTA S. YOGESH GUPTA
Date : 29.07.2000 Director Managing Director
Statement of Particulars of Conservation of Energy, Technology absorption,
Foreign Exchange earnings and Outgo pursuant to section 217 (1) (e) read
with Companies (Disclosure of particulars in the Report of Board of
Directors) Rules 1988.
a. Conservation of Energy:- Energy Conservation measures are taken by
constant Monitoring and implementing measures for Reduction of energy
b. Technology Absorption & Innovation:- The Company has constant
interaction with Nubal Electronics Ltd., U.K.
c. Foreign Exchange Earnings and Outgo:
1. Foreign Exchange Outflow Rs. 17,51,438.92
2. Foreign Exchange earnings Rs. 1,87,62,220.38