SKG SOLVEX LIMITED
Your Directors have pleasure in presenting the 12th Annual Report of the
Company together with Audited Accounts for the year ended 31 st March, 1994.
Your Directors are pleased to recommend for your consideration a Dividend @
10% on Equity Shares (subject to deduction of tax), for the year 1993-94. The
Dividend are subject to the approval of the shareholders.
During the year the company has crushed 63513.692 M.T. of Raw Material. Your
Directors are happy to report that inspite of the increasing competition the
company has achieved a turnover of Rs. 5068.02 Lacs as against 3514.18 Lacs
during the previous year. The net profit earned of Rs. 144.36 Lacs is
encouraging, which is 20.30% higher than the profit earned during the
The Company has launched consumer packs of 1/2 ltr., 1 Itr., 2 Itr., 5 Itr.,
& 15 Itrs. Jars, under the brand name of "CHAHAT". Your Company has already
entered in the market of Madhya Pradesh, Rajasthan & Uttar Pradesh. The
company proposes to have warehousing facilities in Middle East to get better
realisation of Soya Deoiled meal.
The crop is very good and particularly in Rajasthan. With the quantum jump in
the current year's processing capacities the year seems to be very good for
Your Company has started to expand its existing capacity of Guna plant and
setting up a new project at Timarni. The Project implementation has already
started and expected to commence production by December, 1994. For this
expansion program Term loan has been sanctioned by ICICI Ltd. The combined
capacity of all three units (after expansion) will 300000 M.T. per annum. The
vegetable oil refinery capacity is being also expanded to 40500 M.T. per
annum. Both the projects are going as per schedule.
PARTICULARS OF EMPLOYEES
During the year under review, there was no employee who came under the
perview of section 217 (2A) of the Companies Act 1956. Your company has
maintained excellent industrial relation with our brokers and employees. The
employees and management team efforts has enable to achieve it present
working position. Your Directors wish to place on record their appreciation
of the dedicated services rendered by the executive, staff member & workers
of the company.
Shri B. L. Jain, Shri Rakesh Mehra & Shri Jitendra Jain retire by rotation
and are being eligible for re-appointment.
The Auditors M/s. Bhutoria Ganesan & Co. retire at the conclusion of the
ensuring Annual General Meeting and offer themselves for re-appointment. The
members are requested to appoint Auditors and fix their remuneration.
The observations made by the Auditor in the Auditors reports are self
explanatory and do not call for any further information.
Four Company has accepted/renewed certain deposit U/S 58A of the companies
Act, 1956 without invitation. There are no overdue as on 1.3.1994.
CONSERVATION OF ENERGY & TECHNICAL ABSORPTION
The Company's operation do not involve substantial consumption of coal and
power in comparison to cost of production. Wherever possible energy
conservation measure have been implemented.
Power and Fuel Consumption
Total Amount 5802475
Rate/Unit (Rs. ) 2.21
b) Own Generation
(i) Through diesel Generator
Total Amount 204997
Quantity (M.T.) 6449.670
Total Cost 8650626
Average Rate 1341.25
Quantity (M.T.) 1972.070
Total Cost 1538594
Average Rate 780.12
The Company has neither purchased within India nor Imported any Technology.
FOREIGN EXCHANGE EARNINGS AND OUTGO
Total Foreign Exchange Earned Rs. 438.16 Lacs, Export through Export House
Rs. 1314.99 Lacs. Total Foreign Exchange Outgo Rs. 1.78 Lacs.
Your Directors wish to place on record their acknowledgement of the sincere
co-operation the company has received from central and State Government,
ICICI, IDBI, MPFC, MPAVN. The state Bank of Indore, State Bank of Bikaner &
Jaipur, The Bank of Rajasthan Ltd., Investors, Press, Customers & Suppliers.
Behalf of the Board of Directors
Place : RAIPUR L. K. JAIN
Date :10-10-1994 (Managing Director)