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Perk Pharmaceuticals Ltd.

BSE: 530673 Sector: Health care
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Perk Pharmaceuticals Ltd
NSE 05:30 | 01 Jan Perk Pharmaceuticals Ltd

Perk Pharmaceuticals Ltd. (PERKPHARMA) - Director Report

Company director report

PERK PHARMACEUTICALS LIMITED ANNUAL REPORT 2010-2011 DIRECTOR'S REPORT To, The Members, Your Directors have pleasure in presenting the 30th Annual Report together with the Audited Accounts of the Company for the year ended 31.03.2011. CORPORATE RESULTS: (Rs. in Lakhs) 2010-2011 2009-2010 Sales 121.34 132.04 Profit before Interest & Depreciation 21.76 47.51 Less: Interest 0.14 0.30 Profit after Interest 21.62 47.21 Less: Depreciation 14.13 14.33 Profit before Tax 7.49 32.88 Less: Provision for Taxation - - Profit after Taxation 7.49 32.88 Add: Balance Brought Forward (245.59) (278.47) Add: Depreciation written back - - Profits available for appropriation (238.10) (245.59) DIRECTORS: Smt. Krishna Kaile, Smt. Indu Kumar and Shri Vikram Kaile, Directors of Company retires by rotation at this ensuing Annual General Meeting but being eligible offers themselves for re-appointment. DIVIDEND: Due to wipe out the losses of pervious years of the Company, The Directors do not propose any Dividend for the year under review. EXPANSION & FUTURE OUTLOOK: The Company is planning to launch new products like the Calcium Range and enter the trading of basic drugs in coming months which should help to wipe out its losses The Company is in stabilizing its sales and its products also and the Company hopes to increase turnover and performance next year its Sales so as to give better results in the coming years. NEW PRODUCT LAUNCHES: The Company is planning new range of Calcium Group, Food Supplements and muscular relaxants in coming months, which should help to capture new markets. Now the company is also likely to enter new market in different parts of country and also planning to re-consider its market polices to penetrate the markets. PERSONNEL: The Company and the Directors record their appreciation for the cordial relationship between the employees and management and the Company continues to pay greater attention in encouraging a healthy work environment. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO: Statements in accordance with the provisions of section 217(1)(e) of the Companies Act,1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988, regarding conservation of energy, technology absorption and foreign exchange transactions are given in Annexure forming part of this Report. AUDITORS: M/S Jyotsana Madan & Associates, Chartered Accountants, auditors of the Company retire at this meeting and are eligible for reappointment. The Company has received a certificate to the effect that their reappointment if made would be in accordance with the provision of Companies Act 1956. CORPORATE GOVERNANCE: The provisions of Corporate Governance were implemented during the financial year 2002 - 2003 i.e. w.e.f. 31.01.2003. A separate report on Corporate Governance is included / annexed as part of the Annual Report 2010-2011.The Auditor's Certificate confirming compliance of conditions of corporate governance is included in the said report. LISTING OF SHARES INFORMATION REGARDING STOCK EXCHANGE: The company's equity shares are listed at the Stock Exchange, Mumbai and The U.P. Stock Exchange Association Limited, Kanpur. The company has passed resolution in the 22nd Annual General Meeting for De-Listing of Shares from The Stock Exchanges of Delhi and Hyderabad and the matter is under process. PARTICULARS OF EMPLOYERS: There was no employee in receipt of remuneration attracting the provisions of section 217(2A) of the Companies Act, 1956, read with the companies (Particulars of employees amendment) Rules, 1988. DIRECTORS RESPONSIBILITY STATEMENT: (Under Section 217 (2AA) of the Companies Act) We accordingly state:- 1. That in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; 2. That the directors had selected such accounting policies and applied the consistently and made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period; 3. That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; 4. That the directors had prepared the annual accounts on a going concern basis. AUDITORS REPORT: The notes to the accounts are self explanatory & therefore do not call for any further comments. ACKNOWLEDGMENTS:- The Directors acknowledge the active co-operation & help received from the Banks & Government agencies. They also gratefully acknowledge the support and goodwill extended by the Doctors, Dealers, Customers, Suppliers and Investors. For and on Behalf of the Board Date : 14th July, 2011 (DHIRAJ KAILE) (VIKRAM KAILE) Place: Partapur, Meerut CHAIRMAN & WHOLE TIME DIRECTOR MANAGING DIRECTOR ANNEXURE: (Annexure to the Directors' Report) Information as per Section 217(1)(e) of the Companies Act,1956 read with Companies (Disclosure of Particulars in Report of the Board of Directors) Rules, 1988 and forming part of the Directors Report for the year ended 31st March, 2011. A. CONSERVATION OF ENERGY: a) The Company is continuing its Energy Conservation Measures like: (i) Continuous monitoring of power factor has been done resulting in a consistent power factor of 0.85, thus saving electrical energy. (ii) Proper Maintenance of energy efficient heaters in Steam Autoclave. (iii) Proper Maintenance of Chilled Water pipelines. b) Additional Investment and Proposal: (i) Streamlining of Piping, insulation and distribution panels is being maintained. c) Impact of measures (a) and (b) above: There has been and is further going to be a favorable impact of the above steps in reducing the energy cost. d) Total Energy Consumption per unit of Production: Information is given in Form A, annexed. B. TECHNOLOGY ABSORPTION: e) Efforts made towards Technology absorption: Latest additional techniques as per WHO G.M.P. standards employed and are being updated in the complete Manufacturing facilities. C. FOREIGN EXCHANGE EARNINGS AND OUTGO: Not Applicable. FORM - A CONSERVATION OF ENERGY: Year Ended Year Ended 31.03.2011 31.03.2010 Power & Fuel Consumption 1. Electricity: a) Purchased Units 37,425 38,421 Total Amount (Rs.) 249,593.00 245,869.00 Rate/Unit (Rs.) 6.67 6.40 b) Own Generation (Through D.G. Set) Units 3,500 3,400 Units/Liter of Diesel Oil 4.00 4.00 Cost/Units (Rs.) 9.67 8.77 2. Coal - Not Applicable. For and on behalf of the Board (DHIRAJ KAILE) (VIKRAM KAILE) Place: Partapur, Meerut CHAIRMAN & WHOLE TIME DIRECTOR Date : 14th July, 2011 MANAGING DIRECTOR