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Shukla Data Technics Ltd.

BSE: 511471 Sector: Financials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Shukla Data Technics Ltd
NSE 05:30 | 01 Jan Shukla Data Technics Ltd

Shukla Data Technics Ltd. (SHUKLADATATECH) - Director Report

Company director report

1997 SHUKLA DATA TECHNICS LIMITED DIRECTORS' REPORT The Directors of your Company hereby present their Eleventh Annual Report on the business and operations of the Company and the financial accounts for the year ended March 31, 1997. FINANCIAL RESULTS: (Rs. in lacs) For the year ended 31-3-97 31-3-96 Total Turnover (including increase/decrease in Inventory) 175.40 233.52 Profit Before Interest, Depreciation & Tax 32.25 59.64 Less: Interest 5.60 03.20 Depreciation 19.12 18.35 Tax -- 03.00 Profit After Tax 7.53 35.09 Less: Prior year's adjustment (net) 22.60 -- --------- --------- Add: Balance brought forward from Previous year 76.31 70.97 Amount Available for Appropriation 61.24 106.06 Less: Proposed Dividend & Provision for Tax on Dividend 3.84 26.25 Transfer to General Reserve -- 03.50 --------- --------- Balance Carried Forward to Balance Sheet 57.40 76.31 --------- --------- DIVIDEND: The directors have recommended 1% dividend for the year ended March 31, 1997. TURNOVER & PROFIT: Turnover and Profit have declined on account of losses suffered by the Company's subsidiary M/s. Balshia Securities Ltd. OPERATIONS: On the whole, the Company's operations are going on as per long range plan. MANAGEMENT: During the year under review, Shri Harshad R. Talati and Smt. Harsha P. Shukla have resigned from the Board of Directors for their personal reasons. The Board of Directors have not filled in the vacancies caused by their resignations. At the ensuring Annual General Meeting, Shri Inder Chand Jain and Shri Dhansukh N. Shukla, shall retire by rotation. Being eligible, they have offered themselves for reappointment. Shri Pradeep B. Shukla is concerned or interested in the reappointment of Shri Dhansukh N. Shukla. SUBSIDIARY COMPANY: The audited accounts of the subsidiary company viz. Balshia Securities Ltd. alongwith the reports of the Auditors and Directors are not annexed to Annual Report of this Company, as require by Provisions of Section 212 of the Companies Act, 1956 as the accounts are not yet finalised in view of non-receipt of certain vital details from NSE authorities. ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE: The details required in forms A & B as laid down in the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are not applicable to service industries except the figures of foreign exchange which are produced herein below: a) Activities relating to Exports: Software for Computer operations. b) Total Foreign Exchange used and earned (1996-97) I. CIF Value of Imports : Rs. NIL II. Expenditure in Foreign Currency : Rs. NIL III. Foreign Exchange Earned : Rs. NIL PARTICULARS OF EMPLOYEES: There is no employee who has worked either for full year or for part of the year whose information in accordance with the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of employees) Rules, 1975 as amended, is required to be included in the Report of the Directors. ACKNOWLEDGEMENTS: The management of your company is grateful to the banks, financial institutions, and the investors, without whose support the operations of the Company would not have been possible. The Company also appreciates the sincere and dedicated efforts put in by its staff members On Behalf of the Board of Directors P. B. Shukla Chairman & Managing Director