RAASHI FERTILIZERS LIMITED
ANNUAL REPORT 2004-2005
M/s. Raashi Fertilizer Limited
Your Directors have pleasure in presenting the Annual Report and
statement of Account for the Company for the year ended 31st March, 2005.
(Rs. in Lacs) (Rs. in Lacs)
Year ended Year ended
Sales and Misc. Income 0.53 0.002
Profit before depreciation (18.71) (55.74)
Depreciation (23.26) (28.75)
Provision for Taxation NIL NIL
Misc. Expenses W/off (0.17) (2.12)
Net Profit Carried to Balance Sheet (42.14) (84.65)
During the entire year, plant was temporarily closed and production was
NIL. The Company has become a sick unit and is registered with BIFR.
In absence of adequate profit, your directors are unable to declare
The members are requested to appoint Auditors for the ensuing year.
M/s.B.M. Jhaveri & Co., retiring Auditors, have offered themselves of
The Company has not accepted any Fixed Deposit from Public.
The particulars of Employees as required under Section 217(2a) of the
Companies Act, 1956 are not applicable as none of the employees
draw remuneration beyond the limit specified.
CORPORATE GOVERNANCE REPORT:
1. The Company's philosophy is to provide Farmers with cheapest Possible
Fertilizers also earn reasonable returns to shareholders by following moral
2. a. Board of Directors :
1. Executive Director - 1
2. Non Executive - 1
3. Independent Non Executive - 1
b. The Chairman is non-executive
3. Audit Committee :
Audit Committee comprises of Mr. C.J. Ramsinghani, Mr. J.S. Mehta and
4. The Company have remuneration committee comprising of Mr.C.J.Ramsinghani
and Mr. J.S. Mehta.
5. Mr. J.S. Mehta, Director cum company secretary is one man 'Shareholders
Committee' and all complaints are attended to. There are no pending
complaints and share transfers.
6. Except A.G.M. no general meeting was held during the year.
7. There is no reportable material significant related party transaction.
8. The Company is listed on Mumbai Stock Exchange in 'Z' category. Trading
on shares is presently suspended. The shares are yet to be dematerialsed.
The company plant located at Gut No. 179 B, Village Lakhmapur, Tal Dindori,
9. There is nothing to report on 'Qualifications' in Auditor Report.
CONVERSION OF ENERGY / TECHNOLOGY ABSORPTION ETC.
Information required under Section 217 (1) of the Companies Act, 1956 is
enclosed in the prescribed form A.B. & C.
INFORMATION AS PER SECTION 217(1) (e) READ WITH COMPANIES (DISCLOSURE OF
PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS RULES 1988 AND FORMING PART
OF THE DIRECTORS REPORT FOR THE YEAR ENDING 31ST MARCH, 2005
FORM - A
DISCLOSURES OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY
SL. PARTICULARS CURRENT PREVIOUS
NO YEAR YEAR
A. Power and Fuel Consumption
1. Electricity P P
a. Purchased Units (KWH) L L
b. Total Amount Rs. A A
c. Rate / Unit Rs. N N
2. Coal T
3. Furnance Oil
a. Quantity (Ltrs.) C C
b. Total Amount Rs. L L
B. Consumption per Unit O O
Single Super Phosphate S S
Furnance Oil Ltrs. E E
(only for Granulated SSP)
There is nothing to report as plant was closed for the year.
Foreign Exchange outgo on Foreign Tour Rs. NIL NIL
Foreign Exchange outgo on Raw Materials NIL NIL
For and on behalf of the Board of Directors
PLACE : MUMBAI C.J. RAMSINGHANI
DATE : 11-07-2005 (CHAIRMAN)
RASSHI FERTILIZERS LIMITED