EMERGY PHAARMA LIMITED
ANNUAL REPORT 2003-2004
Your Directors present the 11th Annual Report of the Company together with
the Audited Accounts for the 12 months' period ended 30th September 2004.
The Financial Results of the Company for the year ended 30th September 2004
are summarised below:
(Rs. In lakh)
Profit/loss before Depreciation, interest & Tax (-) 11.83 (-) 9.45
Depreciation 32.10 37.04
Profit/ loss before Interest & Tax (-) 43.93 (-) 46.49
Interest Nil Nil
Profit/ loss before tax (-) 43.93 (-) 46.49
Income Tax /prior period items Nil Nil
Profit /loss after tax (-) 43.93 (-)46.49
Considering the financial position of the Company, your directors are
unable to recommend dividend for this year.
During the period under consideration operations in the plant could not be
resumed due to non-availability of working capital. The Company is
negotiating with the interested parties for resumption of the operations at
The company has not accepted deposits from the public within the meaning of
Section 58A of The Companies Act, 1956.
Mr. A.S.K. Varma Director retires by rotation and being eligible offer
himself for reappointment.
LISTING AND PAYMENT OF FEE:
Equity Shares of the company are listed on Bombay, Delhi, Ahmedabad and
Hyderabad Stock Exchanges. The company has paid the listing fees on time.
The Corporate Governance in Compliance with Clause 49 of the Listing
Agreement is annexed hereto:
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Board hereby
certifies and confirms that
* In the preparation of Annual Accounts the applicable accounting standards
had been followed along with proper explanation relating to material
* The Directors have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of your
company at the end of the financial year and of the profit or loss of your
company for that year.
* The Director have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of this Act
for safeguarding the assets of your company and for preventing and
detecting fraud and other irregularities and the Directors have prepared
the annual Accounts on a going concern basis.
M/s. Visweswara Rao & Associates, Chartered Accountants, retire at the
Eleventh Annual General Meeting and, being eligible, offer themselves for
re-appointment. They have confirmed their eligibility and Willingness for
CONSERVATION OF ENERGY/ TECHNOLOGY ABSORPTION / FOREIGN EXCHANGE EARNINGS
Since there were no operations at plant during the year, there is no
consumption of energy. However the company has taken all the necessary
steps to conserve the energy.
None of the employees was in receipt of remuneration as stipulated under
Section 217(2A) of the Companies Act, 1956 read with the companies
(Particulars of Employees) Rules, 1975. Your company maintained harmonious
relationship with all the employees at all levels during the year.
Your Directors thank the Government authorities, financial institutions,
Banks, Customers and Suppliers for the kind co-operation and assistance.
Your Directors also thank the Shareholders for their continued confidence
in the Company. Your Directors also would like to convey their appreciation
to all the employees for their dedication.
Place: Secunderabad For and on behalf of Board
Date : 1st March, 2005
Chairman & Managing Director