Our Directors have pleasure in presenting the 17th Annual Report of
the Company together with Audited Accounts for the year ended
(Rs. in lakhs)
YEAR ENDED YEAR ENDED
Collections 6.29 24.14
Profit (Loss) before Tax (221.60) (366.55)
Balance brought forward (792.11) (478.11)
Balance carried forward (1029.32) (792.12)
The companys turnover during the year has received a jolt. The Company
is however taking steps for enhancing the operations and to achieve a
better bottom line.
ADDITIONAL INFORMATION AS REQUIRED U/S 217(1)(e) OF THE COMPANIES ACT,
(a) Conservation of Energy : The company is monitoring the consumption
of energy and is identifying measures for conservation of energy
(b) (i) Research and Development (R & D): No research and Development
has been carried out.
(ii) Technology Absorption, adaptation and innovation:- No technology
either indigenous or Foreign is involved.
(c) Foreign exchange earnings and outgo : Nil
PARTICULARS OF EMPLOYEES
In pursuance of the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules 1975, the
Directors are to report that no employee was In receipt of remuneration
of Rs.24,00,000/- or more per annum or Rs.2,00,000/- or more per month
where employed for a part of the year.
Sri V Ravishankar retires by rotation at the ensuing Annual General
Meeting and being eligible offers himself for re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT
i) that in the preparation of the Annual Accounts, for the year ended
31st March, 2005, the applicable accounting standards have been
followed and there are no material departures;
ii) we have selected appropriate accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company as on 31st March, 2005 and of the Loss of the company for
the financial year ended 31st March, 2005;
iii) we have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities; and
iv) we have prepared the annual accounts for the financial year ended
31st March, 2005 on a going concern basis
M/s. P. MURALI & Co., Chartered Accountants, retiring auditors of the
Company being eligible offer themselves for reappointment as auditors
of the Company. M/s. P.MURALI &Co,, Chartered Accountants have
furnished a certificate Of their eligibility u/s 224 (1B) of the
Companies Act, 1956. The members are requested to reappoint the
auditors and authorize the Board of Directors of the Company to fix
MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT:
Pursuant to Clause 49 of the Listing Agreement, a Management Analysis
Report is given below:
A. INDUSTRY BACKGROUND
The medical equipments are mostly imported from various countries
During the last one decade many companies have setup their
manufacturing bases in India, either with indigenous technology or by
B. INDUSTRY OUTLOOK
The growth of medicare services both in private and Government setups
is increasing tremendously. The utilization of services shall also
increase gradually with the privatization of insurance and higher
awareness and availability of medical services. This increases purchase
of medical equipment in the country.
C. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Company has adequate internal control systems that define roles and
responsibilities of people across various levels of the organization.
These systems facilitate effective checks and controls as well as tight
monitoring on a continuous basis.
D. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES/INDUSTRIAL RELATIONS:
The Company is able to retain the experienced staff The Company feels
confident of keeping its manpower costs to below industry norms, with
the emphasis on becoming customer-centric, the staff are regularly
exposed to training & Orientation programmes not only in their
respective fields but also in public relations.
STATEMENT PURSUANT TO LISTING AGREEMENT
Presently the companys Equity shares are listed at The Hyderabad Stock
Exchange Limited (HSE) and The Stock Exchange, Mumbai (BSE) and company
has paid the Annual Listing Fees upto 2004-2005.
A detailed report on Corporate Governance forming part of the
Directors Report is enclosed
The relations between the management and the staff were very cordial
throughout the year under review. Your Directors take this opportunity
to record their appreciation for the co-operation and loyal services
rendered by the employees.
The company has not accepted any deposits during the year.
Your Directors wish to place on record their appreciation for the
support extended by Government Authorities, Company Bankers, Customers
and Shareholders of the Company
Your directors also wish to place on record their appreciation for the
sincere services rendered by the employees of your Company during the
year. Their dedication, teamwork and efficiency have been commendable.
BY ORDER OF THE BOARD OF DIRECTORS
for CDR MEDICAL INDUSTRIES LIMITED
P.PRASADA RAO N. SRIDHAR REDDY
PLACE : HYDERABAD
DATE : 05-09-2005