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Radhakisan Cement Ltd.

BSE: 502079 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
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Radhakisan Cement Ltd. (RADHAKISHANCEM) - Director Report

Company director report

1995 RADHAKISHAN CEMENT LIMITED DIRECTOR'S REPORT Your Directors present their 14th Annual Report on the business and operations of the Company together with Audited Statement of Accounts for the year ended 31st March 1995. The Company was implementing the BIFR Package which included Erection of Pollution Control Equipment. There was a delay in obtaining the Critical Parts of the said equipment and which is under progress. The Company was served a closure order by Gujarat Pollution Control Board on 17th December, 1994 and therefore the Company had to cease its production. The Board for Industrial & Financial Reconstruction has directed the Management to give a proposal for One Time Settlement of Loan of Financial Institutions to make the unit viable. The Management has given the said proposal which is under its consideration. AUDITORS The Company has received a certificate from M/s. Apaji Amin & Co., Ahmedabad, the retiring Auditors, regarding their eligibility for reappointment as Auditors pursuant to the provisions of Section 224(1) of the Compaines Act, 1956. Members are requested to appoint there as Auditors to hold Office till the conclusion of next Annual General Meeting and to fix their remuneration. AUDITORS REPORT: The observation of Auditors are explained as under: i) Regarding accounting on cash basis, on certain items it was due to administrative convenience and due to amount being insignificant. ii) Necessary steps are being taken to reconcile and to obtain confirmation from various parties. However their response is very poor. iii) Regarding the preparation of Balance Sheet as a Going Concern is self explanatory. PARTICULARS OP EMPLOYEES: There were no employees within the meaning of Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended. COST AUDITORS: Shri B. R. Shah, Cost Accountant has been appointed as Cost Auditors with the approval of Government of India to conduct the audit of cost records of the Company for the year ended 31st March, 1995 pursuant to section 233 B of the Companies Act, 1956. DIRECTORS: Shri A. A. Raval, a Nominee Director of Bank of Baroda, and Shri A. G. Shah have resigned from the Board of Directors. The Company records with appreciation for the guidance given by Shri A. A. Raval and Shri A. G. Shah. Shri P. N. Gulati and Shri K. J. Roy retire by rotation and being eligible otter themselves for reappointment. PARTICULARS OF ENERGY CONSERVATION ETC : Particulars with respect to conservation of energy as per 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) and forming part of the Directors report of the ended 31st March, 1995 are annexed to this report. ACKNOWLEDGMENT: The Board wishes to place on record its appreciation of the sincere and dedicated services rendered by the Workers and employees of the Company at all levels. ANNEXURE TO DIRECTORS REPORT CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO The details as required under the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are as follows: 1. CONSERVATION OF ENERGY During the year under review the Company could not effect any specific conservation of energy and no additional investment was made in this context. However the prescribed information as per Form-A of the relevant rules regarding the total energy consumption and per unit consumption is given below: A. Power & Fuel Consumption 1994-95 1993-94 1. Electricity: a) Purchased Units 1639846 KWH 3669800 KWH Total Amount Rs. 65,55,928 Rs. 1,12,38,328 Rate/Unit Per Unit Rs. 3.99 Per Unit Rs. 3.06 b) Own Generation: Nil Nil i) Through Diesel General Units N/A N/A Unit of Ltr. of Diesel Cost per Unit Nil Nil ii) Through Steam Turbine/ Generator Units 2. Coal (Specify Quality & where used) Quantity (Tonnes) 2440 tonnes 6676 tonnes of 35% Ash of 35% Ash Total Cost Rs. 42,05,017 Rs. 1,02,79,164 Average Rate Rs. 1,727 Rs. 1,540 3. Furnace Oil Nil Nil 4. Other/lnternal Generation Nil Nil B. Consumption per unit of production standards (If any) Product (with details) unit-Cement. i) Electricity 210.29 KVH Avg 140.72 KVH Avg Unit per tonne of Unit per tonne of Cement Cement ii) Furnace Oil Nil Nil iii) Coal (Specify Quality) 35.78% on 33.65% on Clinker Product Clinker Product II. TECHNOLOGY ABSORPTION: During the year no Research & Development activity was carried out by the Company and there was no technology absorption, adaptation and innovation. As such the prescribed information as per Form B is NIL for the year. III. Foreign Exchange Earnings and outgo: During the year under report, there was no foreign Exchange earning and outgo. By Order of the Board of Directors J.G. ROY MANAGING DIRECTOR Place : Ahmedabad. Dated : 4th December, 1995.