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Bhuvan Tripura Industries Directors Report, Bhuvan Tripura Reports by Directors
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Bhuvan Tripura Industries

BSE: 524725|ISIN: INE604B01027|SECTOR: Chemicals
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Bhuvan Tripura Industries is not listed on BSE
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Directors Report Year End : Sep '95   
 Your Directors have pleasure in presenting the Second Annual Report 
 together with Audited Statement of Accounts for the year ended 30th 
 September, 1995.
 
 ACCOUNTS
 
 As the commercial production has yet to commence during the year ended 
 30th September, 1995 no Profit and Loss Account has been prepared for 
 the above period and all expenditure incurred, net of income earned on 
 deployment of fund has been shown as project/other expenses to be 
 capitalised appropriately at a later stage.
 
 PROGRESS OF THE PROJECT
 
 The Company has successfully completed phase I implementation of the 
 project to produce Di-Methyl Amino Ethanol (DMAE) and Di-Ethyl Amino 
 Ethanol (DEAE). Civil work is completed and Plant & Machinery have 
 been installed. The products have found acceptance in market place and 
 supplies have commenced from October 1995. The Company has received 
 active inquiries from European market.
 
 Phase II of the project for down stream products is under 
 implementation. These products will have DMAE and DEAE as raw 
 materials and give higher value addition.  The project team has 
 successfully commercialised the in-house technology to give technology 
 strength to the Company.
 
 The demand growth of these products is likely to be very good due to 
 high growth observed in its end use segments like pharmaceuticals, 
 water treatment, paint industries. In export front too, the Company 
 will have distinct advantage as it will be the only company to have 
 integrated manufacturing facilities.
 
 FUTURE OUTLOOK
 
 The Company has already made significant progress in development of 
 range Solvent Dyes. These dyes are used in colouring petroleum 
 fractions, food grade plastics etc. and have very high value addition.
 
 The Company has planned complete vertical integration to produce a 
 host of chemicals based on Di-Methyl Amino Ethanol (DMAE), Di-Ethyl 
 Amino Ethanol (DEAE) and Ethylin Oxide (EO). With this strategy the 
 Company is looking forward to be technology leader.
 
 SHARE CAPITAL
 
 During the year under review, the Paid-up share capital of the Company 
 increased from Rs. 90 lacs to Rs. 1500 lacs consequent upon the 
 allotment made out of the applications received in our Public Issue. 
 The public issue received overwhelming response and oversubscribed by 
 9,173 times.
 
 DIRECTORS
 
 In accordance with the provisions of the Companies Act, 1956 and the 
 Company's Articles of Association, Mr. P K Vora and Mr. P J Damany 
 retire by rotation at the ensuing Annual General Meeting and being 
 eligible offer themselves for re-appointment.
 
 DISCLOSURE UNDER CLAUSE 43 OF THE LISTING AGREEMENT
 
 As required under listing agreement with Stock Exchanges, the 
 Companies who have issued shares during the year are required to 
 furnish comparison of projection given in the prospectus with the 
 actual performance in respect of profitability as well as utilisation 
 of funds. The details of Projected Profitability as given in the 
 prospectus dated 15.9.94 commences from the year 1995-96 and therefore 
 no details of projected v/s actual profitability are submitted in this 
 report.
 
 FIXED DEPOSIT
 
 During the year under review, the Company has not accepted any fixed 
 deposits as contemplated under the provisions of Section 58-A of the 
 Companies Act 1956 read with Companies (Acceptance of Deposits) Rules 
 1975.
 
 HUMAN RESOURCES
 
 Harmonious Industrial Relations at all levels prevailed throughout the 
 year. Your Directors place on record their appreciation for hard work 
 and dedication shown by all categories of employees.
 
 RESEARCH AND DEVELOPMENT
 
 The Company has developed and successfully commercialised DMAE and 
 DEAE. Pilot plant work for Di-Methyl Amino Ethanol (DMAE) and its 
 Chloride-Hydro Chloride are also completed and phase II of the project 
 is under implementation. The Company has thus developed four 
 technology licenses in a year thereby giving technology edge required 
 in the market place.
 
 The R&D strategy of vertical integration is also completed. Hydroxy 
 Ethyl Cellulose (HEC) is under pilot plant trials and expected to be 
 commercialised soon R&D continues to be the back bone and 
 commercialising of licenses has given the Company confidence to look 
 forward for growth.
 
 POLLUTION CONTROL AND ENVIRONMENTAL SAFETY
 
 The Company has obtained No Objection Certificate (NOC) from Gujarat 
 Pollution Control Board (GPCB) for phase I and II.  The plant set up 
 is in total conformity with NOC and consent application has already 
 been made, awaiting clearance.
 
 The Company has ensure zero discharge plant by incurring capital 
 costs for better process design and new catalysts.
 
 The Company has developed green belt and gardening in the factory 
 premises with a view to promote clean environment.
 
 AUDITORS
 
 M/s D.Burman & Associates, the Auditors of the Company retire at the 
 ensuing Annual General Meeting and are eligible for reappointment. The 
 Company has received a certificate from the Auditors to this effect 
 that their appointment, if made, would be within the limits prescribed 
 under Section 224 (1B) of the Companies Act, 1956.  The members are 
 requested to appoint the Auditors and authorise the Board of Directors 
 to fix their remuneration.
 
 PARTICULARS OF EMPLOYEES
 
 Information in accordance with the provisions of Section 217(2A) of 
 the Companies Act 1956 read with the Companies (Particulars of 
 Employees) Rules 1975, as amended, is not given as no employees of the 
 Company are covered thereby.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE 
 EARNINGS, AND OUTGO
 
 Since commercial production has not yet commenced, the information 
 required under Section 217(1)(e) of the Companies Act 1956, read with 
 Companies (Disclosure of Particulars in the Report of Board of 
 Directors) Rules, 1988 regarding conservation of energy, technology 
 absorption and foreign exchange earnings and outgo are not given.
Source : Dion Global Solutions Limited
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