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Shri Bhagavati Bright Bars Directors Report, Shri Bhagavati Reports by Directors
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Shri Bhagavati Bright Bars
BSE: 530913|SECTOR: Steel - Medium / Small
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Directors Report Year End : Mar '98   
The Directors have great pleasure in presenting their Seventh Annual
 Report and the Audited Accounts of the Company for the Financial year
 ended on 31st March 1998.
 
 FINANCIAL RESULTS :
 
 The Financial Results of the company for the year ended on 31st March
 1998 as compared to previous year are summarised below.
 
                                                 1997-98      1996-97
                                               Amount Rs.    Amount Rs.
 
 
 Profit Before Interest, Dep. & Taxation     1,22,52,319    1,23,86,106
 
 Less : (i) Interest & commission.             45,42,808      48,54,025
 
       (ii) Depreciation.                      17,81,596      17,78,977
 
 Profit Before Tax                             59,27,915      57,53,104
 
 Provision for Taxation                                -              - 
 
 Profit After Tax                              59,27,915      57,53,104
 
 
 SKIPING OF DIVIDEND :
 
 Eventhough the company has registered a very good performance for the
 year, in view of the expansion programme, the directors feel that it
 would serve the interest of the company better if the surplus
 accumulated is ploughed back in to operations of the company to ensure
 long term strength and stability the directors, therefore do not
 recommend any dividend for the year.
 
 OPERATIONS :
 
 The Company recorded an impressive performance even in adverse market
 situation during the year under review.  Domestic turnover, at Rs.
 2102.56 lacs represents an increase of 4.08%.  Export Sales has been
 reduced from Rs. 69.10 to Rs. 57.03 lacs during current year due to
 sluggish market.
 
 FINANCE :
 
 Interest payments and repayment of principal to the term landing
 Institutions and Banks were met in time and in full during the year
 under review.
 
 ENVIRONMENTAL PROTECTION :
 
 The Company continues to attach permanent importance to the
 conservation and improvement of the environment.
 
 PUBLIC DEPOSITS :
 
 During the year under review, the company has accepted fixed deposits
 from its employees, Members and Directors which is exempted from the
 purview of sec. 58 A of the Companies Act, 1956, As there was no
 deposits unclaimed or unpaid by the Company after the date on which it
 has become due for payment or renewal on 31st March 1998 the
 information regarding such deposits are not furnished.
 
 INSURANCE :
 
 All Insurable assets of the Company are Insured.
 
 FOREIGN EXCHANGE EARNING & OUTGO :
 
 The Company has neither any earnings nor any outgo of Foreign Exchange
 during the year.
 
 INDUSTRIAL RELATION :
 
 The Employer-Employee relation were cordial throughout the year under
 review.  The Company's performance owes much to their efforts.
 
 A. CONSERVATION OF ENERGY :
 
 Energy conservation is high priority area for the company.  Our
 continued efforts to reduce and optimise the use of energy consumption
 has shown positive results better controls are planned to achieve
 further reduction in energy consumption.
Source : Dion Global Solutions Limited
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