span dyestuff industries ltd Directors report

SPAN DYESTUFF INDUSTRIES LIMITED ANNUAL REPORT 1999-2000 DIRECTORS REPORT Dear Sirs, We have pleasure in submitting herewith the Seventh Annual Report together With the audited accounts for the period ended 31.3.2000 You will be pleased to hear that inspite of the continuing recessionary trend in the economy in general and textiles in particulars the company could achieve higher sales and by effecting cost control measures it could attain improvement in overall results. The Notes forming part of audited accounts are self explanatory. As a measures of excersing economy at All levels the Board had requested the Managing & Joint Managing Directors to draw lesser remuneration, to which they were agreed and accepted to draw the reduced remuneration at Rs.8000/- p.m. being no change in other perquisites/benefits. CURRENT YEARS TREND The trend during the current year is encouraging. Barring unforeseen circumstances the Company expects to post better results. Y2K COMPLIANCE Since the computer Hardware and Software are fully Y2K Compliant the company has not faced any problem apprehended as Y2K bug. PARTICULARS OF EMPLOYEES AND PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO. The statements as prescribed in section 217(2a) of the companies Act 1956, read with companies (particulars of employees) Rules 1975, and the particulars required to be given under section 217(2c) of the companies Act,1956, to the extent applicable are appended hereto. INSURANCE The assets of the company have been adequately insured. AUDITORS The Auditors M/s Ajay Chhaya & Co. Chartered Accountants, Ahmedabad retire at the conclusion of the ensuing annual general meeting and being eligible they offer themselves for reappointment. DIRECTORS Directors Bhupen L.Kharawala and Shri Bakulbhai R.Shah retire at the ensuing Annual General Meeting. Being eligible they offer themselves for re-election. ACKNOWLEDGEMENTS Your Directors wish to extend their sincere thanks for the support, assistance and encouragement given by the shareholders Government authorities, Gujarat Industrial Investment Corporation and State Bank of Saurashtra. They also appreciate the co-operation received from the employees at all levels. PLACE: AHMEDABAD. FOR AND ON BEHALF OF THE BOARD DATE : 30.06.2000. Chairman ANNEXTURE TO DIRECTORS REPORT Information as per Section 217(i) (e) of the Companies Act 1956 read with the companies (Disclosure of Particulars in the Report of Board of directors) Rules 1988 and forming part of the Directors Report for the Year ended 31st March 2000. A. Conservation of Energy. Energy Conservation measures taken: 1. Capacitors are fixed in series for lighting purpose to reduce power consumption. 2. Company uses most power efficient equipment to ensure minimum consumption. B. ADDITIONAL INVESTMENT AND PROPOSALS BEING IMPLEMENTED FOR REDUCTIONS OF CONSUMPTION OF ENERGY. The company is on a constant vigil to review its production process to ensure minimum power consumption. C. IMPACT OF MEASURES (a) & (b) ABOVE FOR REDUCTION OF CONSUMPTION AND CONSEQUENT IMPACT ON THE COST OF PRODUCTION OF GOODS. The energy saving measures have enabled the company to keep the cost of Production at minimum. D. Particulars of energy consumption per unit of Production are not required to be given as the Companys Industrial activity does not fall in the list of specified industries. E. TECHNOLOGY ABSORPTION. Effort made in technology absorption as per FORM B here as under. A. Research & Development : The company does not have R & D Dept at present, but plans to set up at appropriate time. B. Technology absorption and adaptation : The company has not purchased any Technology for the manufacture of the Disperse Dyes. The company ensures the minimum power consumption through the product improvement efforts and innovative techniques. C. In case of improved technology : Not Applicable (Imported during last five years reckoned from beginning of financial year) Ahmedabad For SPAN DYESTUFF INDUSTRIES LTD. Dated : 30.06.2000 Chairman