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Himachal Fibres Ltd.

BSE: 514010 | NSE: | Series: NA | ISIN: INE723D01021 | SECTOR: Textiles - Spinning - Cotton Blended

BSE Live

Sep 24, 15:40
4.62 0.15 (3.36%)
Volume
AVERAGE VOLUME
5-Day
11,012
10-Day
17,287
30-Day
14,661
8,871
  • Prev. Close

    4.47

  • Open Price

    4.50

  • Bid Price (Qty.)

    4.38 (19)

  • Offer Price (Qty.)

    4.62 (1379)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Himachal Fibres is not listed on NSE

Annual Report

For Year :
2016 2015 2014 2013 2012 2011 2010 2009 2008

Director’s Report

The Directors of the Company have pleasure in presenting their 18th Annual Report on the business and operations of the Company. FINANCIAL RESULTS 1997-98 1998-97 (Rs. Lacs) (Rs. Lacs) a. Total Income 544060 6065.00 (including exports) (3778.86) (4516.79) b. Operating Profit 44943 932.19 Less : Interest & Finance charges 446.05 927.93 c. Net Profit 3.38 4.26 Surplus carried to Balance Sheet 3.38 4.26 PERFORMANCE The period under review saw gradual improvement in business sentiment. Textile industry in particular witnessed weak demand & intense competition amongst the suppliers. Low agricultural output resulted in higher raw material costs which could not be passed on to the customers due to competitive international markets and subdued demand. In order to meet these challenges the product mix is being restructured through introduction of new varieties of blended yarns. The Company is now engaged in manufacture of specialised and dyed yarns The directors have laid emphasis on marketing of these products in international markets in a big way. Efforts are also being made for development of domestic market for the company's products. Measures to control cost at all levels are being implemented to improve profitability. DIRECTORS Mr. Sonjoy Sethee ceased to be director of the company consequent upon withdrawal of nomination by IFCI. The Directors place on record their sincere appreciation for the services rendered by Mr. Sonjoy Sethee during his association with the Company. Mr. T. A. Subramanian and Mr. B. L. Sarda retire by rotation and being eligible. offer themselves for re-appointment. REQUIREMENT U/S 217 OF THE COMPANIES ACT, 1956 Additional information regarding the Conservation of energy, Technology absorption and Foreign Exchange earnings and outgo as required U/s 217(1)(e) of the Companies Act, 1956 is annexed and forms a part of this report. AUDITORS The retiring auditors M/s S. S. Kothari & Co., Chartered Accountants are eligible for re-appointment for the year 1998-99. They have furnished a certificate in terms of section 224(1B) of the Companies Act, 1956 certifying their eligibility to continue as auditors, if re-appointed. CHANGE IN ACCOUNTING YEAR The accounting year of the company had been changed from the period ended on September 30th, to the period ending on December 31st, and accordingly, the accounts for the period under review are for 15 months from 1st October, 1997 to 31st December 1998. DEPOSITS The deposits accepted by the company are being paid according to their terms & conditions. Y2K COMPLIANCE The operations & manufacturing process of the company are Y2K compliant. Additional information as required under Section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of particulars in the Report of Directors) Rule, 1988 end forming part of the Directors' Report for the period ended 31st December, 1998. RESEARCH & DEVELOPMENT 1. The Research & Development efforts in the company are focussed on qualify control and improvement of in house expertise & innovation in production of high end premium products which are eco-friendly. 2. The Company has derived benefits from its Research & Development activities by way of improvement in product quality, cost effectiveness and a consistent, controlled manufacturing process. 3. Research & Development Deptt. of the Company is being equipped with latest generation machines for carrying out studies on the various factors which have bearing on the process parameters. TECHNOLOGY ABSORPTION The Company has been frequently organising training programmes for its personnel to train them with latest art of technology. Acquisition of latest generation machines and presence of Organised work culture has resulted in quality products matching international standards alongwith achieving better productivity. FOREIGN EXCHANGE EARNING AND OUTGO 1997-98 1996-97 (Rs./Lacs) (Rs./Lacs) a) Earning : Export Yarn on FOB 3778.86 4516.79 b) Outgo: i) Imports 80.64 188.72 ii) Expenditure 54.68 52.83 c) Net Foreign Exchange Earnings 3643.54 4275.24

Director’s Report