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Vishal Papertech (India) Ltd.

BSE: 531981 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Vishal Papertech (India) Ltd
NSE 05:30 | 01 Jan Vishal Papertech (India) Ltd

Vishal Papertech (India) Ltd. (VISHALPAPERTECH) - Director Report

Company director report

VISHAL PAPERTECH (INDIA ) LIMITED ANNUAL REPORT 1999-2000 DIRECTORS REPORT Your Directors present their 5th Report and the Audited Annual Accounts for the financial year ended 31st March, 2000. OPERATING RESULTS The turn-over of the company increased from Rs.16.76 crores to Rs.18.45 crores , an increase of 10% But due to continued recession in the paper industry , the realisation was not remunerative. However , during last quarter of the financial year under review , there was some improvement in the market , both in terms of demand and rates. But again due to increase in the excise tariff from 8% to 16% , the profitability has suffered , particularly in the case of medium scale units because the market could not absorb the full impact of the hike. FIXED DEPOSITS : Company has not accepted any fixed deposits from the Public with in the meaning of section 58-A of the Companies Act ,1956 and the rules made there under during the period under review. DIRECTORS : Sh. Om Parkash, Sh. Vidya Sagar & Sh. Y.P. Goyal , Directors of the company, retire by rotation at the ensuing Annual General Meeting and being eligible offer themselves for retirement. AUDITORS : M/s Bansal Mittal & Co., Chartered accountants ,Chandigarh Auditors of the company hold office until the conclusion of the ensuing Annual General Meeting and the Board recommends for their re-appointment. AUDITORS REPORT : Observation in Auditors report are dealt within the notes to the Accounts and being self explanatory , need no further clarification. PARTICULARS OF EMPLOYEES : None of the employees of the company is covered under section 217(2A) of the Companies act, 1956 read with the (Companies Particulars of Employees) rules ,1975 as amended. INFORMATION UNDER LISTING AGREEMENT : Y2K Compliance Status : The company took adequate precautions of Y2k and the company had smooth transition to the new millennium. The shares of the company are listing on Mumbai , Ahmedabad, Madras, Delhi and Ludhiana Stock Exchanges. CONSERVATION OF ENERGY /TECHNOLOGY ABSORPTION , FOREIGN EXCHANGE , EARNINGS AND OUT GO: The information required under rule 2 of the Companies ( Disclosure of Particulars in the Report of Board of Directors ) Rules ,1988 relating to the conservation of energy and technology absorption is as per annexure to the Report. ACKNOWLEDGE : The Board expresses its appreciation for the support and cooperation extended by IDBI ,PSIDC and Punjab & Sind Bank. The Board also record their appreciation for the dedicated services rendered by all ranks of the company's personnels. Place : Chandigarh Date : 05.09.2000 for & On behalf of Board of Directors , Vishal Papertech (India) limited, Om Parkash Mahesh Gupta Malkiat Singh Director Mg.Director Chairman ANNEXURE TO THE DIRECTORS REPORT PARTICULARS UNDER THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) UNDER RULES 1988 FOR THE PART OF DIRECTORS REPORT FOR PERIOD ENDED MARCH 31,2000 A. CONSERVATION OF ENERGY a. The ultra modern equipment have been installed to save and minimise energy consumption. b. To reduce energy consumption the steam pipe line have been insulated with thermocol which reduces steam consumption substantially thereby reducing fuel consumption. B. Technology Absorption The Company is adopting latest Technology. C. Foreign Exchange Earnings and Out go:- 1. Earnings in Foreign Currency : NIL 2. Outflow of Foreign Currency : NIL