Nova International Ltd

BSE: 526061 | NSE: NA | ISIN: NA 
Market Cap: [Rs.Cr.] 0 | Face Value: [Rs.] 10
Industry: Bearings

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Director's Report

1994 NOVA INTERNATIONAL LIMITED DIRECTOR'S REPORT TO THE MEMBERS Your Directors have pleasure in presenting the Third Annual Report together with the Audited Accounts of the Company for the Financial year ended 31st March,1994. FINANCIAL HIGHLIGHTS During the year under review your Company was able to complete the factory civil works & most of the machineries have been installed. There has been a delay in commencing trial production particularly due to non availability of power supi)ly from the State Electricity Board. In order to save time your Company has installed diesel generating set for taking trials on individual machines. Your Directors are happy to inform youtthat trials with most of the machines have already commenced as on the date of this report. FUTURE PROSPECTS The future prospects of your Company are relatively bright. The sophisticated & modern plant & machineries ensurinq higher productivity, improved efficiency & lower overheads will enable the company to market its products at competitive prices. The market indicator are very encouraging regarding acceptability of the bearings manufactured by your Company. Your Company is giving due thrust to explore the export market'for special bearings for better value addition. FIXED DEPOSIT During the year under review, your Company has not accepted any deposits from the public. DIRECTORS During the year under review your Company has broad based the Board of Directors by 1ntroducing Professionals. The Following directors have been appointed as Executive Directors from the dates mentioned in the peranthesis: Shri Bipin V. Modha (06.10.93), Shri Dilip H. Shah (27.1 t.93), Shri Shyam Taneja (27.11.93). As per the provisions of the Companies Act, 1956 and Articles of Association of your Company, Shri Gulabrai V. Modha & Shri Mahendra G. Lodha retire by rotation and, being eligible, offer themselves for reappointment. During the year under review Shri Shailesh R. Gandhi has resigned from the Board. Your Directors place on record their appreciation for the cooperation & guidance extended by Shri Gandhi. AUDITORS M/s. N. K. Kheskani & Co., Chartered Accountants, the present auditors of your Company retire at the ensuing Annual General Meeting and being eligible, pffer themselves for reappointment. The Auditor's observations are self-explanatory & hence do not require any further clarification CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS & OUTGO. As your Company has only commenced machine trials the details pertaining to Conservation of Energy, Technology Absorption & Foreign Exchange earnings & outgo required under sec. 217 (I j (e) of the companies Act,1956 read with the Companies (disclosure of particulars in the reports of Board of Directors) Rules, 1988 are not attached. PARTICULARS OF EMPLOYEES Intormation as per Section 217 (2) (a) of the Companies Act 1956 read with Companies (particular of Employees) Rule, 1975 and under section 217 (1') (e) of the said Act read with the companies (Disclosure of Particulars in the Report of Board of Directors) Rules,1988 forms part of this report. However, as per the provision of section 219 (1) (b) (iv) of the Companies Act,1956, the report and accounts are being sent to all Shareholders of the Company excluding the aforesaid information. Any Shareholder interested in obtaining such particulars may write to the Secretary at the Registered office of the Comoany. ACKNOWLEDGEMENT Your Directors would like to place on record their deep appreciation for the valuable support extended by various Central & State Govt., Commercial Bank & Financial Institution. The Directors also acknowledge their deep appreciation tor the services rendered by employees. For and on behalf of the Board GULABRAI MODHA (Chairman) Date: 22 June, 1994. Place: Ahmedabad.
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Peer Comparison

Company Market Cap
(Rs. in Cr.)
SKF India 4,246.35 24.40 3.33 10.38 13.7 20.5 0.00
Fag Bearings 3,423.72 28.10 3.47 10.63 13.1 19.5 0.00
Timken India 1,360.00 30.21 3.46 10.65 13.5 18.9 0.02
NRB Bearings 659.40 18.15 3.13 5.24 20.7 15.7 1.05
Bimetal Bearings 86.94 19.17 0.64 5.33 5.0 7.1 0.01
ABC Bearings 81.83 68.79 0.67 7.15 4.4 6.0 0.49
Menon Bearings 36.85 8.79 1.12 4.20 11.6 16.3 0.73
NRB Indl Bearing 17.65 0.00 0.46 0.00 0.0 0.0 2.85
Austin Engg Co 16.44 7.08 0.32 3.01 5.3 8.3 0.16
SNL Bearings 7.36 2.41 1.14 1.70 57.8 41.7 0.19
Rushabh Prec. 5.40 300.00 0.47 23.13 0.2 1.9 1.23
Asian Bearing 2.18 0.00 -0.04 0.00 0.0 0.0 0.00
Shriram Bearings 2.06 0.00 1.05 0.00 0.0 0.0 84.17
Deccan Bearings 1.69 0.00 0.51 17.91 0.0 0.0 0.16
Rajas. Balls 1.55 0.00 0.19 0.00 5.7 13.1 0.75

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Key Information

Key Executives:

Gulabrai V Modha , Chairman 

Bipinbhai V Modha , Managing Director 

Dineshbhai V Joshi , Director 

N S Kothari , Nominee (GIIC) 

Company Head Office / Quarters:
345-348 Village Changodar,
Sarkej Bavla Highway, Sanand,
Phone : 465080
Fax :
E-mail :
Web : http://
Nova International Ltd
345-348 Changodar
Sarkhej-Bavla Highw.

Fund Holding

Scheme Name No. of Shares
No data found


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