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Chairman's Speech (Taparia Tools) Year : Mar '97
 General Meeting. The Company has received letter from them to the
 effect that their appointment, if made, would be within the prescribed
 limits under section 224 (1B) of the Companies Act, 1956.  Accordingly,
 the said Auditors will be appointed as Auditors of the Company at the
 ensuing Annual General Meeting. The notes to the accounts referred to
 in the Auditors' Report are self explanatory and therefore do not call
 for any further comments.
 
 8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 A statement giving details of conservation of energy, technology
 absorption, foreign exchange earnings and outgo, in accordance with the
 Companies (Disclosure of particulars in the Report of Board of
 Directors) Rules, 1988 is annexed and marked Annexure-A which forms
 part of this report.
 
 9. CONTRIBUTION TO REVENUE
 
 Company has contributed the following amounts to the exchequer revenues
 during the year:
 
                                  (Rs.in Lakhs)
 
 a) Excise Duty             :          383.74
 b) Sales Tax               :           99.32
 c) Octroi & Municipal Taxes:           19.28
               Total                   502.34
 
 10. ACKNOWLEDGMENTS
 
 Your Directors take this opportunity to record their appreciation of
 the support of the Financial Institutions viz. Industrial Development
 Bank of India, Industrial Investment Bank of India Limited and the
 Bankers - Central Bank of India.
 
 The Directors also wish to place on record their appreciation of the
 dedication and contribution made by the workmen, staff, officers,
 managers and directors of the Company.
 
 (Additional Information in terms of Notification No.  1029 of
 31.12.1988 issued by the Department of Company Affairs)
 
 DISCLOSURES
 
 A) CONSERVATION OF ENERGY
 
 (a) Energy conservation measures taken
 
 Continuous efforts for improving the efficiency of oil fired furnaces
 are going on, with stress on reducing the exhaust losses by design
 improvement of existing furnaces.
 
 Constant effort to control compressed air loss by monitoring &
 repairing the pneumatic lines for leakages.
 
 Continuous work on analysis of utilisation of electrical energy to
 optimise the maximum demand.
 
 (b) Additional Investments and proposals being implemented for
 reduction of consumption of energy
 
 We are analysing the possibility of introducing efficient and cost
 effective oil fired normalising furnace in place of existing less
 efficient electrical normalising furnaces.
 
 (c) Impact of the measures at (a) and (b) for reduction of energy
 consumption and consequent impact on the cost of production of goods
 
 Continuous efforts for conservation of energy are creating awareness at
 all levels and everybody is becoming more cautious in controlling the
 consumption of these valuable resources.
 
 TECHNOLOGY ABSORPTION
 
 a Research and Development
 
 1) Specific areas in which R & D carried out by the Company:
 
 The Company has a full-fledged R & D Department where R & D is made in
 following areas:
 
 * Developing critical process equipments as import subsitution.
 
 * Development of new products and processes.
Source : Dion Global Solutions Limited
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