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Shree Vaishnavi Dyeing & Printings Ltd.

BSE: 521202 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
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Shree Vaishnavi Dyeing & Printings Ltd. (SHVAISHDYE) - Director Report

Company director report

1996 SHREE VAISHNAVI DYEING & PRINTINGS LIMITED DIRECTOR'S REPORT Your Directors Submit the third Annual Report and the Audited Accounts of the company for the year ended on 31st March, 1996, together with Audited Accounts there on. 1. Dividend: Inview of the Loss for the year. Your Directors regret their Inability to recommend payment of any dividend for the year. 3. OPERATIONS: The year under review has been of bad fortunes, The whole Textile Industry has performed badly on account of depressed. Market Conditions, under utilisation of capacity for want of working capital Inspite of increase in turnover the profits of the company declined during the year. Duelio kignt financial position Company's fabric processing unit has ceased production activities. To restart the production activity management has appointed Four new Directors having wide experience in Art silk fabric marketing, and also taken steps to start the production activities, the efforts has materialised and unit has restarted activity from 21st November, 1996 and getting good response from the market. And Directors envisaged that company would be able to wipe out all the losses by 31st March, 1998. 3. AUDITORS: M/S L.P. Nahata & Co. Chartered Accountants retire ard are eligible for reappointment. You are requested to appoint the Auditors of the Company for the Current year to hold office from Conclusion of the ensuing Annual General meeting untill the conclusion of the next Annual General Meeting. 4. DIRECTORS: Shri Brij kumar Poddar and Shri Bhagwati Prasad kanoria, Directors retire by rotation and being eligible offer themeselves for reappointment. Personel: Relations between the employees and management remained cordial during the year. The Directors wish to express their appreciation of the efficient services rendered by the Company's employees and for their outstanding contribution for betterment of the Company during the year. The information required under Section 217 (2A) of the Companies Act, 1956 read with the Companies (particulars of the employees), Rule, 1975. (1) The Company does not have any employee drawing annual salary of Rs. 3,00,000/- or Rs. 2,50,000/- where employed for the part of the year. CONSERVATION OF ENERGY: The Company is taking effective steps to reduce the consumption of energy. The statement of conservation of energy is annexed in Form A. TECHNOLOGY ABSORPTION: The statement of efforts made in technology absorption is annexed in Form B. FOREIGN EXCHANGE EARNING AND OUT GO: The statement of Foreign Exchange and Outgo is also annexed. ACKNOWLEDGEMENT: The Board expressess its deep gratitude to the GIIC LTD., Company's Bankers Central Bank of India, State and Central Government for their support and co-operation. For and on behalf of the Board of Directors SHREE VAISHNAVI DYEING & PRINTINGS LIMITED SHASHIKANT KANORIA Managing Director. Place: Sachin, Date: 18th November, 1996.