Radan Multimedia Ltd

BSE: 523451 | NSE: NA | ISIN: NA 
Market Cap: [Rs.Cr.] 31 | Face Value: [Rs.] 10
Industry: Entertainment / Electronic Media Software

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Director's Report

1995 RADAN TAPES & TUBES LIMITED DIRECTORS REPORT Your Directors have great pleasure in presenting the Seventh Annual Report of the Company together with the Annual Accounts for the year ended 31st March, 1995. DIVIDEND Although the Company has made profits your Directors do not recommend any Dividend as it is necessary to conserve the resources to finance expansion of the business of the Company as mentioned elsewhere in the report. VIDEO SOFTWARE DIVISION a) The Company operates in high technology area, collectively called Information Technology (IT). In this field Video Software Division christened "MAGIKRAFT" has performed very satisfactorily and has earned a name for itself, despite various competitors coming into this field. However, to maintain its edge over the competitors, your Directors have decided to upgrade the technology by investing in DIGITAL EDIT SUITE. This will enable your Company to maintain its lead. b) In order to achieve its cutting edge in Computer graphics MAGIKRAFT division has invested in two Work Stations manufactured by Silicon Graphy, during March, 1995. The same have been installed and commissioned. The full benefit of this expansion will be reflected during the year 1995-96. AUDIO SECTION During 1994-95, Industrial Development Bank of India (IDBI) funded setting up of the Audio Recording Studio. It will start working by September, 1995. The demand for such facilities is increasing day by day. Hence it will be a very profitable venture. MULTIMEDIA (VIRTUAL STUDIO DIVISION) Your Company has entered in to an export tie-up for Multimedia application Software with a European Company. In pursuance of the same a Multimedia Division has been set up and commissioned in June, 1995. During 1995-96 it will be a major contributor to your Company's profit . AUDIO DUPLICATION UNIT Further, your Directors have also decided to put up a unit for audio cassette duplication during 1995-96. Its contribution will start in 1996- 97. At present, in India, approximately 480 million pre-recorded audio cassettes are sold every year. Your Company proposes recording only 10 million cassettes per year. COMPUTER TAPES DIVISION At the time of the Public Issue in 1991, your Company had two projects in mind, one the video software which was duly set up and commissioned in 1992. The other, Computer Tapes Division, is still in the process of being set up. Looking to the later development, the Company decided to change the status of the project from DOMESTIC TARIFF AREA to EXPORT PROMOTION AREA. The Project has been registered under EPCG, which will enable the Company to import capital goods at a concessional rate of 15% import duty only and the raw materials will be allowed free of import duty. Recently, the State Industrial and Investment Corporation of Maharashtra Ltd (SICOM), acting as agent of government of Maharashtra, has also accepted your Company's claim for capital subsidy for Rs. 25,00,000/- for this project. FUTURE PROSPECTS The trend of expansion in TV transmission continues to hold. The advertisement element on TV is on the rise. The future of video software industry continues to be bright . Your company will continue to strive to exploit the potential to the maximum advantage. In India TV advertisement forms less than 30% of the total advertisement spending, against 70% in the West. That alone shows the true potential of the Video Software Industry and to exploit that potential your Company shall keep investing in upgrading technology. CHANGE OF NAME Keeping in view the diversified nature of the Company's activities, it is appropriate that the name of the Company be changed to "Radan Multimedia Ltd",. A separate Resolution is proposed in the forthcoming Annual General Meeting of the company to obtain your approval to the change. PUBLIC DEPOSITS The Company has not accepted any public deposits during the year. DIRECTORS As per provisions of the Companies Act, 1956 Shri. Nana Chudasama and Shri. Maneck H. Byramji, Directors retire by rotation at the conclusion of the Seventh Annual General Meeting and being eligible offer themselves for reappointment. AUDITORS M/s. Mehra Saxena & Associates, Auditors of the Company retire at the conclusion of the ensuing Annual General meeting and being eligible have expected their willingness to be reappointed. They have already furnished a certificate stating that their reappointment, if made, will be within the limits laid down under Sec. 224 *(1B) of the Companies At, 1956. PARTICULARS OF EMPLOYEES Particulars of employees as per Section 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 are not applicable as there are no employees who are in receipt of remuneration for the financial year for which an aggregate was not less than Rs.3,00,000 per annum during the year. ENVIRONMENT Sanction from Maharashtra Pollution Control Board and Environmental Board has already been obtained, for Computer Project. However, the Company's plant has not gone into production yet. The Company is keeping abreast with latest technology development in the field and improvements in the product for better quality, cost effectiveness and its utility of ingredients. a) Conservation of Energy Particulars of Energy, Technology absorption etc. in accordance with section 217 (1) (e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988 are set out in Annexure 1 forming Part of this report. ACKNOWLEDGEMENTS The Board wishes to place on record its sincere appreciation of the contribution and support of the Company's Workforce at all levels, Company's Bankers and Financial Institutions during the year. ANNEXURE I Statement Pursuant to Section 217 (1) (e) of the companies act, 1956 read with companies (Disclosure of Particulars) Rules 1988. a) Conservation of Energy There are no major areas where energy conservation measures could be considered viable as the Company's operations involve low energy consumption. Nevertheless, efforts to optimise and conserve the use of energy through improved methods continues. b) Foreign Exchange and outgo (Rs. in lacs) i) Total Foreign Exchange Earned 61.17 ii) Total Foreign Exchange Used 17.66 For and on behalf of the Board N.S. Parulekar Chairman Place: Bombay, Dated: 22nd September, 1995.
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Key Information

Key Executives:

N S Parulekar , Chairman 

Ashok Seth , Managing Director 

Nana Chudasama , Director 

S C Bafna , Director 

Company Head Office / Quarters:
9/17 Kodivale,
Neral-Kalamb Road,
Phone :
Fax :
E-mail :
Web : http://
Radan Tapes & Tubes Ltd
Sadhana Rayon House
2nd Floor
Dr D N Road
Mumbai - 400 001

Fund Holding

Scheme Name No. of Shares
No data found


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