otoklin plants equipment ltd Directors report
OTOKLIN PLANTS & EQUIPMENTS LIMITED
ANNUAL REPORT 1999-2000
DIRECTORS REPORT
To
The Members of,
OTOKLIN PLANTS & EQUIPMENTS LIMITED
Your Directors have pleasure in presenting herewith Sixteenth Annual Report
together with the audited Accounts of the Company for the year ended 31st
March, 2000.
The Operational and other Income of your Company has suffered considerable
set back during the year under review on account of negative growth in the
Capital Industry and Prevailing recession and fund crisis.
DIRECTORS :
Shri Vijay P. Mehta retires by rotation at the ensuing Annual General
Meeting and being eligible, offers himself for re-appointment.
Shri Dhaval D. Jhaveri has been appointed as an Additional Director of the
Company W.e.f. 30th August, 2000 and holds office upto the date of ensuing
Annual General Meeting. His knowledge and contribution has benefited the
Company and therefore, Board recommended his appointment at the ensuing
General Meeting.
AUDITORS :
M/s. Vijay Mehta & Co., Chartered Accountants, Statutory Auditors of the
Company, shall retire at the conclusion of the ensuing Annual General
Meeting and being eligible, have offered themselves for reappointment.
EMPLOYEES RELATIONS :
Employees Relations were cordial throughout the year. The Directors express
their warm appreciation to all the employees for their dedication and
support.
There are no employees covered under Section 217(2A) of the Companies Act,
1956, read with the Companies (Particulars of Employees) Rules, 1975 as
amended. Hence no particulars are given herewith.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION :
A statement giving details of conservation of energy, technology absorption
and foreign exchange earning and outgo in accordance with the companies
(Disclosure of Particulars in the Report of Board of Directors), Rules,
1988 is se tout in ANNEXURE.
ACKNOWLEDGMENTS :
Your Directors are pleased to record their utmost gratitude towards Bank of
Baroda, Statutory Auditors, Customers, Suppliers, Staff and our Esteemed
Shareholders who remain associated with the Company even during all crisis
and difficult period.
For and on behalf of the Board
DILIP K. JHAVERI
Chairman & Managing Director
Place: Mumbai
Dated: 30th August, 2000
ANNEXURE TO THE DIRECTORS REPORT
(Particulars required by the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 and forming part of the
Directors Report for the year ended on 31st March, 2000)
A. CONSERVATION OF ENERGY:
Management is fully conscious of national economy and as such all efforts
are continuously made for conservation of energy wherever possible, either
by introduction of improved method of production, or otherwise. We are also
contributing significantly towards conservation of energy by supplying
improved systems and equipment resulting in saving of energy to the users.
B. TECHNOLOGY ABSORPTION & EFFORTS MADE:
RESEARCH & DEVELOPMENT:
1. Specific areas in which R & D carried out by the Company:
The Company is currently carrying out research and development on improved
design of Duplex Strainers/Filters and Catridge Filters.
2. Benefits Derived:
Many turnkey projects have been executed with major indigenisation of the
components and in some cases totally indegenised. e.g.
Valveless Autowash Gravity Filters
Automatic Self Cleaning Filters
3. Expenditure on R & D
No separate R & D expenses have been incurred as the efforts are related to
existing line of business.
C. TECHNOLOGY ABSORPTION AND INNOVATION
1. The Company through its R & D efforts have made the significant
improvements on the designs of various types of industrial filters and
technology for Pipe coating is a new innovation for the Company.
2. Foreign Technology:
The Company had bought into this country the best technologies many of them
are for the first time, in different types of filteration and separation
technology.
The Company has made synergic agreements alliance with following reputed
foreign company for bringing further technologies in liquid/solid
filteration and separation and separation and pollution control.
Sr. Name of the Products & Services
No. Company
1. Huntington VOC/HAP
Environmental Emission Control
Nox Reduction, Odor Control,
Soil and Ground Water
Remediation.
For and on behalf of the Board
DILIP K. JHAVERI
Chairman & Managing Director
Place: Mumbai
Dated: 30th August, 2000