volplast ltd share price Directors report

VOLPLAST LIMITED ANNUAL REPORT 2000-2001 DIRECTORS REPORT To, Members Volplast Limited The directors are pleased to present Annual Report and Audited Statement of Accounts for the year ending 31st March 2000-2001. DIVIDEND: The Board of Directors do not recommend any dividend for the year. OPERATIONS: The operation of company was at satisfactory level and the profits will be utilized for the restructuring for the Companys asset, The profit before depreciation and interest is Rs.3.77 as compared to 62.50 lacs during previous year. The profit after depreciation ,and tax is Rs.0.74 lacs as compared to 59.25 lacs during previous year. FIXED DEPOSIT : Company has not accepted fixed deposit as per section 58A of the Companies Act 1956. DIRECTORS: The retiring directors are eligible for reappointment and Board recommend members to reappoint them. CONVERSION OF ENERGY,TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS/OUTGo. Since company is operating on a very low level and the project envisaged, by public issue is under implementation the details of conversion of energy etc. be treated as NIL. PERSONAL: Relation between Employees and Management remained cordial during the year. No employee of the company is in receipt of remuneration in excess of limits prescribed in accordance with section 217 (2A) of the Companies Act 1956 read with (particulars of Employees) Rules 1975 and the details there under should be treated as nil. AUDITORS: The retiring auditors BHARAT PARIK & ASSOCIATES, Chartered Accountants retire at ensuing Annual General Meeting and being eligible offer themselves for reappointment. Directors recommend reappointment of retiring auditors. APPRECIATION: Yours Directors place on record their sincere gratitude to Shareholders, Financial institution, Bankers, Business Associates, Colaborators, Government Agencies and other Regulatory Agencies for continued support and faith in the company. Directors are also happy to place on record their appreciation for co-operation and contribution made by staff members and look forward if continued support. For and on behalf of Board of Directors Chairman 20th July, 2001