all metal process industries ltd share price Directors report

ALL METAL PROCESS INDUSTRIES LIMITED ANNUAL REPORT 1999-2000 DIRECTORS REPORT Your Directors present the Fifteenth Annual Report of the Company together with the Audited Statement of Accounts for the Financial Year ended 31st March 2000. DIVIDEND The Directors do not recommend any dividend as the profit generated during the year is proposed to be invested for improvement in existing steel processing facilities. YEAR IN RETROSPECT Your Directors are happy to note that the Steel Industry is reviving and demand has picked up and with restructuring of the company, your company has turned the corner and a sizeable profit has been generated. FUTURE PROSPECTS Your company had no concentrated all its efforts at Pune Unit and hopes to give still better results in future. DEPOSITS The Company has not accepted any deposits from public during the year. PARTICULARS OF EMPLOYEES Your Company has not employees of the category specified under section 217(2A) of the Companies Act, 1956 during the year. DIRECTORS Shri. P.C. Surana retires by rotation and being eligible offers himself for reappoinment. Shri. Ashok Kapoor, Shri. Kanwaljeet Bawa, Shri. K. P. Wadalia, and Shri. Vikramjeet Singh Puri resigned from the Board of Directors, Shri. S.G.A. Safvi was redesignated as Executive Chairman. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND EXCHANGE EARNINGS AND OUTGOINGS As required under section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the report of the Board of Directors) Rules,1986 the relevant information is as under :- A) Conservation of Energy, Technology Absorption Your Company has always been conscious of the need to conserve energy and will Constantly endeavor to conserve energy to the maximum extent possible. B) RESEARCH & DEVELOPMENT: The Company has no specific Research & Development department. However, the Company has fully equipped modern quality control department to check the quality of products and to support the in-house product and process development. AUDITORS Members are requested to appoint Auditors and fix their remuneration. M/s. A.R.Sodha & Co., Chartered Accountant retiring at the conclusion of this Meeting being eligible for reappoinment have furnished the required certificate under section 224(1 B) of Companies Act, 1956. ACKNOWLEDGEMENT Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the Banks, Government authorities, shareholders, customers and suppliers. during the year under review. Your Directors wish to place on record their deep sense of appreciation for the services of the executives, Staff and Workers of the Company. For and on behalf of the Board of Directors Place: PUNE S. G. A. SAFVI Date : 23rd November 2000 Executive Chairman