U. P. Lime Chem Ltd.
Annual Report 199-99
The Directors have pleasure in presenting their Tenth Annual Report
together with the Audited Accounts for the year ended 31st March, 1999.
During the financial year 1998-99, your Company has achieved gross Turnover
of Rs.542 02 Lacs and the working of the Company has resulted into net loss
of Rs.36.37 Lacs as against profit of Rs.5.49 Lacs during the previous year
ending on 31.03.98. Though there is no cash loss yet the Company incurred
net loss due to high financing costs, material cost & written off of
insurance claims filed during earlier years.
Your Directors are of the view that after the changes that have taken place
in the market scenario and the efforts that have been made to increase the
market share of the Company, the Company shall be in a position to earn
profits during the current year.
In addition to this, the Company has been cost effective on its power and
fuel expenses after the commissioning and running of the Co-gen system.
Further, Company's Bankers State Bank of India have enhanced limits of the
Company from Rs.160 Lacs to 235 Lacs. This will result into uninterrupted
production at desired levels & the Company will earn profit during the
In view of the financial status of the Company, the Directors express their
inability to declare any dividend for the year 1998-99.
The Company has not accepted any fixed deposits from the public during the
Sh. Ashwini K. Singh & Sh. Piyoush Kumar, Directors of the Company, retire
by rotation at this Annual General Meeting and being eligible offer
themselves for re-appointment .
Mts. R. M. Lail & Co., Chartered Accountants, Lucknow, the Auditors of the
Company retire at the fortheoming meeting of members and being eligible
offer themselves for re-appointment & they may be re-appointed Auditors of
the Company accordingly.
The notes on accounts referred to in the report of Auditors are self-
explanatory and therefore do not call for any comments on the observations.
PARTICULARS OF EMPLOYEES
These are not applicable since there was no employee covered under Section
217 (2A) of the Companies Act (Particulars of Employees) Rules, 1975 as
The Management has assessed the problem relating to year 2000 date relating
to electronic Hardware and Software used by the Company. On such
assessment, the Management is of the opinion that the computer system in
use are Y2K complaint and no significant liability is expected consequent
to this issue.
In terms of Section 217 (1E) of the Companies Act, 1956 read with Companies
(Disclosure of particulars in the report of the Board of Directors)
Rules,1988, the relevant information is given in Annexure 'A' to this
report and forming part of the report.
LISTING OF SHARES
The Company's shares are listed with Kanpur, Delhi, Madras & Mumbai Stock
Exchange. Upto date fee have been paid to Kanpur & Mumbai Stock Exchange
but fee payable to Madras & Delhi Stock Exchange for the year 1999-2000 has
not been paid.
Your Directors take this opportunity to offer their sincere thanks to
various Departments of Central & State Governments, Financial Institutions,
Banks, Investors & all employees for their unstinted support, co-operation
On behalf of the Board of Directors
Place: Bijnor (ASHWINI K. SINGH)
Dated: 2nd September, 1999 Chairman
Information as required u/s 217 (1) (e) of the Companies Act, 1956, read
with the Companies (Disclosure of Particulars in the Report of the Board of
Directors) Rules, 1988
(A) CONSERVATION OF ENERGY
a) Energy conservation measures taken
i) Co-generation plant being installed which will make the Company self
sufficient in power generation.
ii) Energy efficient fittings.
iii) Vapour absorption chiller installed.
iv) Prevention of idle machines running.
v) Saving in burning of oil for drying is being done by changing the system
b) Additional investment & proposals
Overhead transmission lines are being replaced by sufficient capacity
cables to reduce the losses.
c) Impact of measures at (a) & (b) for reduction of energy consumption on
the cost of production of goods
After installation of Co-Gen. system, the power cost will be reduced cost
per unit of finished goods will be reduced by at least 10%.
d) Total energy consumption and energy consumption per unit of production
(As per Form A enclosed).
(B) TECHNOLOGY ABSORPTION
a) Efforts made in technology absorption (As per Form B)
b) Foreign Exchange Earnings and Outgo: Nil
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO TECHNOLOGY ABSORPTION
Research & Development
1) Specific areas in which R&D carried out by the Company
Utilisation of extra heat consistency in quality of the products.
2) Benefits derived as a result of above R & D
Quality of the product has been improved
3) Future plan of action
Expert advice is being taken for better utilisation of extra heat emitted
by kiln which may be used in process.
4) Expenditure on R&D
Not separately accounted. Modern lab. with latest equipments is proposed in
the current year.
5) Technology Absorption
During the year, we have not taken any foreign technology.