The Directors, have pleasure in presenting their 8th Annual Report and
Audited Statement of Accounts of the Company for the year 31st March,
FINANCIAL RESULTS :
The Financial results for the year and those of the previous year are
summarised below :
For the year ended For the year ended
Gross Profit/(Loss) 10,78,948 8,01,347
Less : Provision for Depreciation 10,51,532 7,52,880
Profit before Tax 27,416 48,467
Less : Provision for tax 55,248 -
Less : Provision for earlier year 8,758 -
Net Profit/(Loss) (36,590) 48,467
In view of inadequacy of profit of the Company, your Directors do not
recommend any dividend for the year.
The Directors have the pleasure of informing you that during the year,
the sales of the Company was Rs. 922.47 Lacs as compared with sales of
Rs. 624.59 lacs in 1998-99, but due to fluctuations in oil market, the
Company made loss after provision of Tax & prior period adjustments,
of Rs. 36,590. Due to heavy imports of edible oil and fluctuation of
international prices, and increase of import duty, the edible oil
industries are facing volatity as well as cut throat competition. There
are wide price flucturations adversly effecting the viability. During
current year, sales have fallen due to increase in big number of
players in the market and the present trend suggests that working may
The company did not accept any fixed deposit from public and hence no
details are required.
NOTES ON ACCOUNT ;
The Directors are of the view that the notes to the accounts are
adequate and self-explanatory in respect to Auditor's Report.
During the period under review Sri Anil Satnalika Director of the
company resigned on personal ground which was accepted by the Board in
there meeting held on 28.07.2000. In pursuance of section 256 of the
Companies Act '56, Sri Bibhuti Bhusan Das will be retiring from the
Board and being eligible, seeks his re-appointment. Your Board of
Directors also inducted MD Enamulla Ansari, as a Director of the
company w.e.f. 28.07.2000.
M/s. S. K. Agarwal & Associates, Chartered Accountants who retires at
the conclusion of the forth coming Annual General Meeting and have
expressed their willingness to be re-appointed which is within the
limits prescribed us 224 (1B) of the companies Act, 1956. The Director
recommended their re-appointment.
The Directors further inform that there are no employee drawing over
prescribed salary for which disclosure is to be made u/s 217 (2A) of
the Companies Act, 1956 the Companies Rule.
The Directors further inform that u/s 217 (1) (e) of the Companies Act,
1956 The Companies Disclosure in the Report for the financial year
ended 31st March '2000, the total electricity was bought from CESC Ltd.
for Rs. 21,638.00 in Head Office and Rs. 1,45,038.00 at Factory.
As regards Research & Development the Company constantly pursuing the
measure to improve the quality of the materials such as by appointing
technical qualified persons. Efforts are being made also in technology
absorption, as per form 'B' of the annex of the Rules.
The Directors are pleased to inform that the Company exported materials
to Bhutan valued for 40.76 Lacs (previous year 12.10 lacs) and there is
no foreign exchange expenditure during the year.
DISCLOSURE OF PAYMENT OF LISTING FEES TO STOCK EXCHANGE.
The company's shares are listed with Calcutta Stock Exchange & Mumbai
Stock Exchange. Payment of listing fees to above two exchanges, have
been paid for the year. As regards, Ahmedabad Stock Exchange, where
Company's share were also listed, the Company's request of delisting has
been accepted. The shares are no more listed at Ahmedabad Stock
Exchange as per their letter No. : 1175/2000 dt 28.06.2000.
`D' MAT SHARE TRADING
It has been bought to the notice of the management that your company
has been included for `D' Mat Trading. Necessary steps are being taken
to complete necessary formalities and arrangement.