The Directors have pleasure in presenting Fourteenth Annual Report,
together with the Audited Accounts of the Company for the year ended
31st March, 2005.
(Rs.in lacs) (Rs.in lacs)
Gross Turnover 13162.14 9202.98
Gross Profit before 1116.61 800.00
Interest & Depreciation
Less: Interest 412.68 239.76
Less: Depreciation 422.85 296.42
Net Profit for the Year 281.08 263.82
In view of the meagre of the profit Directors are not recommanding any
The turnover of the company during the year increased by 43 % at
Rs.13162.14 lacs as compared to Rs.9202.98 lacs for the corresponding
year ended 31.03.2004. However net profit has not grown substantially
due to increase in the interest & depreciation.
During the year the company has installed 2 MW Natural Gas based
Captive Power Plant imported from Austria which reduce the power cost
by Rs.2 per unit. The CPP has started from Nov04.
BOARD OF DIRECTORS
Shri Jivabhai A. Patel, Shri Jaskaran P. Chopra and Shri Pravinchadra
Jariwala retire by rotation and being eligible offer themselves for
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the companies Act, 1956, the Directors
1. In the preparation of the annual accounts, the applicable
accounting standards have been followed;
2. Appropriate accounting policies have been selected and applied
consistently and judgements and estimates that are reasonable and
prudent have been made so as to give true and fair view of the state of
affairs at the end of the financial year and of the profit of the
company for the financial year ended March 31, 2005.
3. Proper and sufficient care has been taken for the maintenance and
adequate accounting records in accordance with the provisions of the
Companies Act, .1956, for safe guarding the assets of the company and
for preventing and detecting fraud and other irregularity.
4. The annual accounts have been prepared on a going concern basis.
As on 31st March, 2005 no deposits remained unclaimed after, maturity.
PARTICULARS OF EMPLOYEES
There was no employee remuneration during the year in excess of limits
prescribed u/s 217 (2A) of the Companies Act, 1956.
The Companys auditors M/s R. K. G. & Co., Charetered Accountants
retires but being eligible offer themselves for re-appointment from the
conclusion of this AGM upto the conclusion of next AGM.
Particulars required under Section 217 (1)(e) of the Companies Act,
1956 is annexed and forms part of the Directors report.
Your Directors wish to express their sincere thanks for the support and
co-operation extended by the Government, Dena Bank, State Bank of
Indore, State Bank of India, Customers, Suppliers, Dealers and
Shareholders for their continued support.
The Directors also wish to express their thanks for the services
rendered by the Companys employees at all level.
For and on behalf of the Board
Place : Palsana Jivabhai Patel
Date : 22-08-2005 Chairman