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Mohota Industries Ltd.

BSE: 530047 | NSE: MOHOTAIND | Series: NA | ISIN: INE313D01013 | SECTOR: Textiles - Composite Mills

BSE Live

Dec 06, 16:00
7.00 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
15,964
10-Day
14,445
30-Day
13,653
39,855
  • Prev. Close

    7.00

  • Open Price

    6.81

  • Bid Price (Qty.)

    6.82 (900)

  • Offer Price (Qty.)

    7.00 (787)

NSE Live

Dec 06, 15:51
6.95 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
39,155
10-Day
38,696
30-Day
42,952
74,332
  • Prev. Close

    6.95

  • Open Price

    6.80

  • Bid Price (Qty.)

    6.95 (1)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Director’s Report

The Directors submit their Report and the Audited Accounts for the year ended 31st March 1999. FINANCIAL RESULTS Year ended Year ended 31.03.98 31.03.99 (Rs. in Lacs) (Rs. in Lacs) Grass Revenue 9083.26 9161.15 Gross Profit (before interest, depreciation and tax) 865.55 875.52 Less : Interest 314.89 233.52 Depreciation 365.17 245.93 Profit before Tax 185.49 396.07 Less : Provision for Tax & Tax paid 2.32 36.93 Net Profit available for appropriation 183.17 359.14 Appropriations : Proposed Final Dividend 63.07 84.09 Tax an Dividend 6.31 8.41 Transferred to General Reserve 113.79 266.64 183.17 359.14 SALES & INCOME Sales for the year at Rs. 8986 Lacs were 0.62% less than that of the previous year 1997-98. The slow dawn in the economy and depressed market condition caused lower sales. Profit before interest & depreciation marginally decreased to Rs. 865.55 Lacs as against Rs. 875.52 Lacs for the previous year inspite of price pressure in the market and inflationary pressure an expenditure. The net profit after charging interest, depreciation and tax amounted to Rs. 183.17 Lacs as against Rs. 359.14 Lacs for the previous year. A sharp increase in interest and depreciation cast affected the result of the year. Although working capital levels improved, the overall interest cost increased by Rs. 81.37 Lacs due to higher cost of borrowing for the new investment at Wani Unit. DIVIDEND Due to lower profitability, the Directors recommend a lower dividend of 15% involving a sum of Rs. 63.07 Lacs (previous year Rs. 84.09 Lacs) subject to the approval at the Annual General Meeting. MODERNISATION The company is continuously modernising its operations. During the year under review the company has installed latest yarn preparatory machines (LC 300 Cards) alongwith Autoconer Machines for smoothning of its operations and producing export quality yarns. FINANCE The company has incurred capital expenditure of Rs. 182.76 Lacs during the year under review. The capital expenditure has been mainly incurred towards modernization of Hinganghat Unit and is being financed through internal resources. CONTRIBUTIONS TO GOVERNMENT REVENUE During the year under review, the company has paid Rs. 1281.95 lacs by way of Excise Duty and Rs. 145.83 lacs towards sales tax. Thus the total contribution of the company to the central and state exchequers has been to the tune of Rs. 1427.78 Lacs. Apart from it, Rs. 39.12 Lacs were also paid to Nagar Parishad, Hinganghat as octroi duty. INSURANCE Adequate insurance cover has been taken for properties of the company including Building, Plant and Machineries and Stocks. YEAR 2000 COMPLIANCE The Company has taker effective steps to be Y2K compliant by November 1999. The Casts incurred/to be incurred in this connection are not likely to be material. The Company is also developing contingency plans to ensure minimum disruption of its operations in the event of system breakdown/failure due to Y2K Problems. DIRECTORS In accordance with the provisions of the Companies Act, 1956 and the Company's Articles of Association, Shri Ranchhoddas Mohota & Shri Basantkumar Mohota Directors of the Company, retire by rotation and being eligible offer themselves for re-appointment. DEPOSITS The Company has accepted Deposits U/S 58A of the Companies Act, 1956 and are within the rules as prescribed under the Companies (Acceptance of Deposit) Rules, 1975. COST AUDITORS Pursuant to the directives of the Central Government under the provision of Section 223 B of the Companies Act, 1956, qualified cast auditor has been appointed to conduct cast audit of the company. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO Information required under Section 217(1) (e) of the Companies Act, 1956 read with rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 is given in the Annexure 'A' which forms an integral part of this report. PERSONNEL There are no employees (Other than Managing & Joint Managing Directors) to whom the disclosure requirement of Section 217 (2A) of the Companies Act, 1956 apply. Information as per section 217 (1) (e) read with companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988 and forming part of the Directors Report for the year ended 31st March 1999. A. CONSERVATION OF ENERGY : (a) Measures taken : The Company is aware of the importance of conservation of energy and continuous efforts are being made to reduce energy cast at all levels. Special attention is being given for the use of energy efficient equipments. During the year Company reviewed and continued to pursue the energy conservation measures taken in the previous year with a view to further reduce the cost of energy and consequently the cast of production. (b) Additional investments and proposal for reduction of consumption of energy : The Management is committed to further identify new areas where the conventional equipments can be replaced by latest equipments so as to reduce the consumption of various sources of energy. (c) Impact of the measures (a) and (b) : The Company has achieved reduction in energy casts. B. TECHNOLOGY ABSORPTION : Efforts made in technology absorption as per Farm B is given below : I. Research and Development (R & D) 1. Specific areas : The R & D activities of the Company are aimed at quality control and improvement/upgradation of the product range : 2. Benefits derived : Improvement in product quality, development of new value added products and cost effectiveness. 3. Future plan of action : Development of more value added products and making the product more cast effective. 4. Expenditure on R & D : Expenditure an Research & Development are very difficult to ascertain as the same staff and equipments are used for production and quality control. II. Technology Absorption, adaption and innovation : 1. Efforts made : Sustained efforts are being made towards upgrading the process technology. 2. Benefits derived : The Company has been able to improve the quality of its existing products. 3. Particulars of technology imported during the last five years. : Nil C. FOREIGN EXCHANGE EARNINGS AND OUTGO : (a) Efforts : Various efforts are being made to explore and secure new export market for Company's products. (b) Earnings and outgo : (Rs. in lacs) i) Foreign Exchange earnings : 27.05 ii) Foreign exchange outgo : 85.21

Director’s Report