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Raghunath Cotton & Oil Products Ltd.

BSE: 519258 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Raghunath Cotton & Oil Products Ltd
NSE 05:30 | 01 Jan Raghunath Cotton & Oil Products Ltd

Raghunath Cotton & Oil Products Ltd. (RAGHUNATHCOTTON) - Director Report

Company director report

1994 RAGHUNATH COTTON & OIL PRODUCTS LIMITED DIRECTORS REPORT To the Shareholders Your Directors have pleasure in presenting the 8th Annual Report of the Company together with the audited statements of accounts for the year ended 31st March, 1994. Financial Results The company maintained progressing trend in its operations and achieved a comparatively better turnover and profitability during the year under review, with the result the earlier accumulated losses have completely been wiped off. Since the profits earned have been fully adjusted against the earlier losses, the company could not declare any dividend this year. The company works out different strategies to improve it's operational and marketing efficiency and expects a still better performance during the ensuing year. Operations: The company is continuously registering increase in turnover during the last three years and there was an increase of 21% sales during the year under review as compared to the previous year. Consequent to the improvement undertaken in the refinery section during the last year, the production in refinery was increased and this accounted for the fall in manufacturing expenses and fuel consumption as compared to the previous year. Due to monsoon failure, the cotton crop during the year showed poor results and touched all time high price. Since cotton seed processing became unremunerative during the year the process was restricted to the extent desirable in the cotton seed processing section and the company mostly undertook crude oil processing in the refinery to circumvent the seasonal imbalances in the seed supply. As oil refining in the refinery proved to be profitable, the company plans to continue and enhance the refinery operations depending on the market conditions. As far as extraction sales, the demand for extractions and their prices in the global market have comparatively declined in the year under review and the company was not encouraged to export its extractions since the domestic price realisation of the extractions was better than that of the export front. Hence there was a decline in export sales during this year. Future Prospects: The company plans various strategies to improve and enhance its capacity utilisation by entering into long term contract with various giant companies for supply of edible oils to their requirement. Besides the company envisages expansion of its retail outlet to bring more value addition to the products and maximise the turnover. With all this, the company is confident of achieving better turnover and profitability, so as to declare dividend to the shareholders in the ensuing year. Directors: Smt. G. Jayalakshmi, Director of the company will retire by rotation in the ensuing Annual General meeting, in terms of article 116 of the company's Articles of association and being eligible offers herself for reappointemnt. Dr. T. Venkataswamy, Chairman of the Company, resigned from the board on March 31, 1994. The Board has placed on record its appreciation of the advice and guidance and Co-operation received from Dr. T. Venkataswamy. Auditor: Sri K. Sudhakar, Chartered Accountant, retires at the conclusion of the forthcoming Annual General Meeting. The observations found in his audit report have been adequately dealt with in the notes to the accounts. As he expressed his inability to continue to hold office for the forthcoming year, it is proposed to appoint Sri Ch. Venkateswarlu as Auditor for the next year. Particulars of Employees: There were no employees in respect of whom particulars as required under section 217(2A) of the Companies Act, 1956 and the rules framed thereunder are to be furnished. Companies (Disclosure of Particulars in the Report of Board of Directors Rules, 1988: The statement pursuant to 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 is given in the annexure forming part of this report. Acknowledgement: Your Directors are grateful for the continued cooperation and support the company is enjoying from its Bankers, Financial institutions, Customers and Employees. For and on behalf of the Board Maddipadu K.V. RAMANAIAH G. VENKATESWARLU November 25, 1994 Director Managing Director FORM 'A' DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY A. Power and fuel consumption: 1. Electricity : 1993-94 1992-93 a) Purchased Units (Kwh) 15,35,190 23,50,616 Total amount (Rs) 40,50,138 53,35,535 Rate/Unit (Rs. per Kwh) 2.64 2.27 b) Own Generation: i) Through diesel generator: Units (Kwh) 1,17,700 1,19,129 Units per litre of Diesel Oil (Kwh)2.12 2.10 Cost per Unit (Rs) 2.73 2.79 ii) Through Steam Turbine -- -- 2. Coal (F Grade Coal used in Boiler) Qty. (Tonnes) 965.045 4,057 Total Cost (Rs) 16,26,850 18,29,505 Average Rate(Rs. per Tonne) -- 450,95 Form 'B' DISCLOSURE OF PARTICULARS WITH RESPECT TO ABSORPTION R&D CARRIED OUT BY THE COMPANY: 1. Specific areas in which R&D carried out by the Company : Nil 2. Benefits derived as a result of the above R&D : Not applicable 3. Expenditure on R&D : Not applicable Technology absorption, adaptation and innovation: 1. Efforts made: No technology has been imported. Efforts are being made to keep abreast of the technological developments and innovations relating to the company's line of products and to bring about development in the products of the company for better quality and cost effectiveness. 2. Benefits derived: With improved quality and lesser process loss company achieved reduction in cost of production. 3. Technology imported: Nil