MONTANA INTERNATIONAL LIMITED
The Directors have pleasure in presenting their fifth Annual Report on the
business and operations of your Company and the audited Statement of
Accounts for the year ended 31st March, 1995.
During the year under review, your Company has earned a cash, surplus of
Rs. 12 lacs.
During the year, 99134 dozens of coffee mugs valued at Rs. 147.90 were
exported to major countries in Europe, USA, South Korea and Maldives. Your
company has become one of the largest exporters of ceramic novelties in
this country. The pioneering effort will witness the sales significant
improving during the current year.
Your company could sell in the domestic market to the tune Rs. 33.39 lacs
on the Advance DTA permission obtained from VEPZ, Vizag.
RESEARCH AND DEVELOPMENT
Considering the nature of the business, continuous development in moulds
for various samples is taking place. Your company is now able to meet the
stringent specifications of the customers in the international markets.
Efforts are continuously focussed on indigenisation and human skill
During the year under review, your Company accepted fixed deposits. The
company has no overdue deposit as at 31st March, 1995.
The industrial relation during the year was harmonious. Your Directors wish
to place on record the excellent co-operation extended by the employees in
achieving the objectives.
During the year, Mr. J.R. Som Chaudhuri was co-opted as nominee director of
State Bank of India.
In accordance with the requirements of the Companies Act, 1956 and the
Articles of Association, Dr. S.R. Ganesh, Director, retires by rotation at
this Annual General Meeting and being eligible, offers himself for
M/s. K. Vijayaraghavan & Associates, Chartered Accountants, Hyderabad, the
Auditors of the Company retire at the conclusion of this Annual General
Meeting and are eligible for reappointment.
ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE
The particulars relating to conservation of Energy, Technology absorption
and Foreign Exchange earnings and outgo as required under Section 217 (1)
(e) of the Companies Act, 1956 is enclosed as part of the Report.
Your Directors place on record the appreciation for the sincere efforts and
active involvement of employees at various levels. The Directors also place
on record the appreciation for the support received from Banks, Government
agencies, Vendors and valued customers.
A) CONSERVATION OF ENERGY :
(a) Energy Conservation and measures taken :
The Company has been continuously making all efforts for conservation of
energy and adequate steps in this regard are being taken.
(b) Additional Investment and proposals if any being implemented for
reduction of energy :
Presently, no additional investment required.
(c) Impact of measures of (a) & (b) above :
As the company is in its first year of operation, the impact on the savings
in energy cost cannot be quantified.
FORM - A
Form of disclosure of particulars with respect to conservation of energy
A) Power and Fuel Consumption
Sl. Name of Energy Units 1994-95
a) Purchased Units in KWHr 6,40,346
Total amount Rs. 13,41,683
Rate/Unit Rs./KWHr 2.10
b) Captive power consumption Units in KWHr 2,45,298
Units/Ltr KWHr/Ltr 3.00
Rate/Unit Rs./KWHr 2.68
2. Furnance Oil (HSD)
Quantity KL 5,431
Total Amount Rs. 43,45,000
Rate/KL Rs. 800
B) CONSUMPTION PER DOZEN OF PRODUCTION
Sl. Item of Energy Unit 1994 - 95
1. Electricity KWHr 4.50
2. Furnance Oil (HSD) Ltrs 2.76
FORM - B
RESEARCH & DEVELOPMENT
1. Specific areas in which R & D carried out by the Company :
Standardisation in process and setting up of process parameters in being
carried out. Also, improvement of designs of moulds for making end
2. Benefits derived as a result of the above R & D :
The company would achieve better productivity and cost reduction due to
standardisation of process. There will be a potential for increase in
3. Future plan of action :
The Company's R & D efforts will be towards upgradation of the present
products and expanding the range of tablewere to suit the needs of global
4. Expenditure in R & D :
The Company has incurred an expenditure of Rs. 1,69,48,333/- for product
and market development.
TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION
The technology of the foreign collaborator has been absorbed and fully
adopted. With the R & D efforts in standardising the process parameters,
further improvement in the quality is envisaged.
FOREIGN EXCHANGE EARNINGS/OUTGOINGS
Earnings in Foreign Currency :
Rs. 150.74 lacs (Previous year Rs. Nil)
Expenditure in Foreign Currency :
Rs. 65.26 lacs (Previous year Rs. 44.97 lacs)
for and on behalf of the Board
P. MADAN MOHAN
Place : Hyderabad,
Dated : 28th June, 1995.