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Trans Agro Tech Ltd.

BSE: 530527 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Trans Agro Tech Ltd
NSE 05:30 | 01 Jan Trans Agro Tech Ltd

Trans Agro Tech Ltd. (TRANSAGROTECH) - Director Report

Company director report

TRANS AGROTECH LIMITED DIRECTORS REPORT To the Members, Your Directors are pleased to present their Fourth Annual report together with the Audited statement of Accounts for the year ended 31st December 1998. FINANCIAL RESULTS During the year under review the company processed 221.106 (183 .487) m.t. of precooled fruits and vegetables. The Company has sold 221.106 m.t. (P. Y. 183.487) of the finished products for the value of Rs. 93,12,552 an earned Rs. 83,47,248/- as service charges. The Company has earned a net profit of Rs. 14,90,230/- and the same has been carried over to Balance Sheet. WORKING RESULTS The Company has an Agreement with Hindustan Lever Ltd for handling clearing and forwarding of their "WALLS" RANGE OF Frozen Desserts from Nasik. Your Company is expected to do better during the current year as the company has put up a new plant for processing pulps etc. DIVIDEND The Board has not recommended any dividend during the period under review due to inadequacy of profits. However the company is expected to do better during the current year. DIRECTORS Mrs. Sujata A. Agarwal and Mr. Ashok Rungta, the Directors of the company retire at the ensuing Annual General Meeting of the Company. Being eligible they offer themselves for reappointment. The Board recommends their appoint. INSURANCE All the assets of the company are adequately insured. COMPLIANCE WITH Y2K PROBLEM The Company is already Y2K compliant. It is well prepared to face the challenge in the millennium. PARTICULARS OF EMPLOYEES None of the employees of the company has drawn remuneration of Rs. 3,00,000/- per annum during the whole of the year or Rs. 25,000/- p.m. during the part of the year. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO The particulars required to be given under Clauses (A) and (B) of the Companies (Disclosure of particulars in the report of Board of Directors ) Rules 1988 are insignificant as commercial production has commenced during the period under review and therefore not furnished. Foreign Exchange Earnings and outgo : Foreign Exchange earned Rs. NIL. Foreign Exchange incurred Rs. NIL. ACKNOWLEDGMENT The Board of directors records its appreciation of the Cooperation extended to the Company by the Shareholders, Government, Banks, Financial Institutions, Creditors, Customers, Employees and others. AUDITORS M/s. Moledina Mukadam & Associates, Chartered Accountants, Bombay, the Auditors of the Company retires at the ensuing Annual General Meeting of the members of the Company. Being eligible, they offer themselves for reappointment. For and on behalf of the Board Place : Mumbai A. M. AGARWAL Date : 02-06-99 Chairman