gran heal pharma ltd Directors report

GRAN HEAL PHARMA LTD. ANNUAL REPORT 1999-2000 DIRECTORS REPORT To the Members, GRAN HEAL PHARMA LTD. Your Directors have pleasure in presenting the EIGHTH ANNUAL Report along with the Audited Accounts of the Company for the year ended 31st March, 2000. REVIEW OF OPERATIONS The Company has launched a new ETHICAL DIVISION. This division, which began its operations in Mumbai, has a large & dedicated field force. The last quarter of the calander year will see the expansion activities in Gujarat and Maharashtra and by the next six month, we plan to cover half of India. FUTURE OUTLOOK Our OTC division is also expanding in MP Delhi, Bihar, Calcutta, and other places. In this division, we plan to bring some need base products in Cosmetics, which will certainly give the Company a new image. Once this new face-lift has been established, substantial Sales growth will be ensured. We will be one of the Companies in the industry where IT has total control over field, administration and distribution. All these achievements will not only help us to achieve new heights, but also will make our organisation more focused on each activity. DIVIDEND In view of the contemplated expansion plans of the company the directors consider it necessary to invest the internal accruals towards the proposed expansion and hence no dividend is recommended for the year under review. ENERGY, TECHNOLOGY, & FOREIGN EXCHANGE As required by the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988, the relevant information pertaining to conservation of energy, technology absorption and foreign exchange earnings and out go are furnished hereunder. (a) Conservation of energy : The nature of operations of the companys manufacturing activities not being energy intensive, the impact of energy saving devices is insignificant. The company continues its efforts to improve methods of energy conversation & utilisation. (b) Technology Absorption : Research and development is an ongoing process undertaken for quality upgradation, product enhancements, development of new products & cost effectiveness. (c) Foreign exchange earnings and out go : Earnings in foreign exchange during the year were Nil and Foreign Exchange out goes were Rs.2,82,964.00 for foreign travelling. FIXED DEPOSITS The company has not accepted any fixed deposits from the public. PERSONNEL During the year under review, there was no employee drawing salary in excess of the limits prescribed under Section 217(2A) of the Companies Act, 1956 and the Rules prescribed thereunder. DIRECTORS Shri Praveen Agarwal retires by rotation from the Board and being eligible offers himself for reappointment. AUDITORS The Present Auditors M/s. Kamlesh B. Mehta & Co., Chartered Accountants, Auditors of the Company, retire at the conclusion of this Annual General Meeting and are eligible for reappointment. STATUS OF Y2K COMPLIANCE The Y2K transition was smooth without any disruption to the operations of your Company. CASH FLOW STATEMENT Cash Flow Statement pursuant to Clause 32 of the listing agreement is annexed to the accounts and forms part of this report. ACKNOWLEDGMENTS Your Directors wish to place on record their appreciation for the sincere services rendered by the employees of the Company at all levels and for the continuous support and cooperation of Bankers, Institutions, Investors and other associates. FOR & BEHALF OF THE BOARD DR. KISHORE HARBADA CHAIRMAN MUMBAI 2nd September, 2000.