|
1994
ELCAPS CAPACITORS LIMITED
DIRECTORS' REPORT
To,
The Members of ELCAPS CAPACITORS LIMITED
Your Directors are pleased to present their sixth Annual Report alongwith the
Audited Accounts of the Company for the year ended March 31, 1994.
During the year under review, although total income re,corded an increase of
40% over the previous year, mainly due to export turnover,the production and
sales of Aluminium Electrolytic Capacitors (AECs) lagged behind the set
targets due to delay in launching high value Can-type capacitors and workinq
capital Droblems.
The television Industry, main user of capacitors turned the corner after four
years of recession. The effect of this recovery has been felt only in
the,later part of the year. This upsurge in demand is likely to continue and
ensure healthy growth, in future.
Your Company having been awarded the prestigious ISO 9002 Quality System
Certificate by STQC, Department of Electronics, Government of India, on April
18, 1994, looks forward to substantial improvement in business, both at home
and overseas market. With the objective of becoming globally competitive,
your Company has entered into MoU with a leading German Firm for
collaboration in areas of technology, finance and export buy-back for
European Union (EU) market. The strategy is to achieve 30-35% per annum
growth rate upto the year 2000 A.D.
Timely generation of financial resources through the Banks, Financial
Institutions and Capital Market are going to be crucial. In the emerging
conducive financial marketplace, your Directors are confident that the
Company would be able to mobilise additional working capital and long term
funds which are absolutely necessary for achieving the ambitious target.
STATUTORY INFORMATION
Information required in terms of section 217 (1) (e) of the Companies
(Amendment) Act, 1988 is given as an annexure. Also information in pursuance
of sub-section (2A) of section 217 read with the Companies (Particulars of
Ernployees) Rules, 1975 is given in the annexure forming part of this report.
BOARD OF DIRECTORS
Mr. Ranjan Kapur, Mr. R.K.Shrivastava and AVM J.N.Misra retire by rotation
and being eligible, offer themselves for reappointment. Your Directors
recommend their reappointment.
AUDITORS AND THEIR REPORT
M/s A.V.Lowlekar & Co., Chartered Accountants, hold offce as Statutory Auditors of the Company until the conclusion of the ensuing Annual General
Meeting and are eligible for reappointment. Pursuant to section 224-A of the
Companies Act, 1956, their reappointment is required to be made by a special
resolution.
Notes no. 4 & 5 of the 'Notes to the Accounts' referred to in the Report of
Auditors are self-explanatory and therefore do not call for any further
comments.
Your Directors wish to express their grateful appreciation to the Financial
Institutions and Banks for their assistance and continued co-operation and to
the dedicated work done by all the employees of your Company.
FOR AND ON BEHALF OF THE BOARD
Sd/-
PLACE: MANDIDEEP (DR. R.K.SOOD)
DATE : JUNE 28, 1994 CHAIRMAN
|
|