FORGE & BLOWER INDUSTRIES LIMITED
Your Directors have pleasure in submitting their Annual Report together
with the Audited Statement of accounts for the year ended 31st March, 1995.
During the year under report, the sales have increased from Rs. 689 Lacs to
Rs. 815 Lacs resulting in increase in profit after tax to Rs. 30.49 Lakhs
as against Rs. 8.06 Lakhs during the previous year. However with a view to
build up the Capital base of the Company your Directors do not recommend
EXPANSION AND DIVERSIFICATION :
The Company has been planning for expansion of the existing project and
also for diversification by manufacturing Chop Cutting Machines, Air
compressors and Gear Boxes for Hand Pumps. The technical design and data
are under finalisation and it is expected that the manufacture of new items
will be implemented in the year 1996-97. As you are aware the company has
very good marketing network and the company will be in a position to push
up the above products in the market successfully.
For implementation of the above project the company will be required to
acquire more space and the company has been negotiating for the purchase of
vast land, where the existing factory can be shifted and the project for
expansion and diversification can also be perfectly implemented.
FIXED DEPOSIT :
The company has not accepted any deposit to which the provisions of Sec.
58-A of the companies Act, 1956 are applicable.
PARTICULARS REGARDING EMPLOYEES :
There is no employees who is in receipt of remuneration exceeding the limit
specified under Section 217 (2A) of the companies Act, 1956.
POLLUTION AND ENERGY CONSERVATION ETC:
Pursuant to Section 217 (1)(e) of the companies Act, 1956 the information
required in respect of pollution and energy conservation is given in
The property of the company is adequately insured against various perils.
Your are request to appoint auditors from the conclusion of ensuing Annual
General Meeting up to the conclusion of next Annual General Meeting and fix
their remuneration. The present Auditors M/s. Girish R. Pandya & Co.,
Chartered Accountants, Ahmedabad are eligible for reappointment.
The Board places on record the appreciation of the sincere and devoted
rendered by all the employees and the continued support and confidence of
ANNEXURES TO DIRECTORS' REPORT
PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION,
FOREIGN EXCHANGE EARNINGS AND OUTGOING :
A. CONSERVATION OF ENERGY:
1. Energy conservation measures taken are :
i. Regular preventive supplies.
ii. Optimum utilisation of Equipments.
iii. Proper change mix for optimum efficiency of the furnace.
2. Additional investments and proposals :
Since the working of all the equipments consuming energy are at optimum
efficiency level there is no proposal for additional investment.
3. Impact of measures 1 and 2 for reduction of energy consumption and
consequent impact on the cost of production of goods :
Although the above measures have resulted in higher output at lower energy
consumption however the cost has been offset by price rise effected during
the year by various authorities.
4. Since the Company is not converted under the list of specified
industries the prescribed form "A" is not applicable.
B. TECHNOLOGY ABSORPTION :
1. Research & Development (R & D)
As on date there is no Research and Development Department. The existing
designs and development takes care of all aspects of products development,
improvement of manufacturing process and upgrading of Technology and Import
2. Technology Adaptation, Absorption & Innovation :
i. Efforts in brief made towards technology absorption, adaptation and
The equipments installed during the previous years were optimately utilised
producting the required quantity and quality of pumps.
ii. Benefits derived as a result of the above efforts:
Improvement in quantity of pumps and standardisation to match the
iii. Technology imported during last 5 years:
There is no import of any technology during the last five years.
C. FOREIGN EXCHANGE EARNINGS AND OUT GOINGS
There were no earnings or outgoings to foreign exchange during the year.
By Order of the Board of Directors
MINESH L. GAJJAR
Place : Ahmedabad
Dated : 29th June, 1995.