ANNUAL REPORT 2005-2006
Ladies and Gentleman,
Your Directors have pleasure in presenting the fifteenth Annual Report of
the Company for the year 2005-2006.
(Rs. in Lakhs)
Profit/(Loss) (36.00) (77.99)
Depreciation 10.37 10.37
Net Loss (46.37) (88.36)
During the last financial year Company could not achieve much due to lack
of Bank facilities and low turn over. Sales has reduced to such a low level
operation of the Co has to be stopped. The accumulated loss has been
calculated as more than the capital and the Co has become fully sick.
The salary dues of the employees and their PF and ESI dues are to be
settled. PF and ESI authorities have already initiated action for
attachment of the Co's properties.
After great effort Bankers have agreed for an One Time Settelment by paying
an amount of Rs.36 lakhs Company is making efforts to raise this amount by
disposing the landed properties pledged with Bank itself. Tiic has also
stepped up efforts to recover their dues. They have also indicated their
willingness to settle the dues under OTS.
As the co is facing acute financial problems there is no other go but to
continue the closure of the Co which is in force from 01.04.06.
In order to survive there should be demand for the products of the Company.
This fully depends upon creating market for our products. As the huge
losses incurred are hindering the plans, Company is trying to find a way
our to raise more funds.
Shri. Vasanth Bhadra who retires on rotation as director has offered
himself for reappointment.
Shri S.Ganesh, Chartered Accountant, D.No.27, New Damu Nagar, P.N.Palayam,
Coimbatore. The retiring Auditor has indicated his willingness to continue
and the availability for appointment as Auditor and necessary proposal for
his re-appointment is made.
The Company has not accepted any deposit from Public.
There is no employee in the Company drawing remuneration that require,
declaration under Section 217(2A) of the Companies Act, 1956.
CONSERVATION Oh ENERGY:
Report are given in Annexures.
DIRECTORS RESPONSIBILITY STATEMENT:
Your Directors in terms of Section 217(2AA) of the Companies Act, 1956
1) All applicable accounting standards have been followed in the
preparation of the annual accounts.
2) Your Directors have selected such accounting policies and applied them
consistently and made judgements at estimates that are reasonable and
prudent so as to give a true and fair view of the statement of affairs of
the Company as of 31.03.2006 and of the loss of the Company for the year
ended on 31.03.2006.
3) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in the accordance with the provision of the Act
for safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities.
4) The annual accounts have been prepared on a going concern basis as
stated in of notes on accounts.
The Company has become fully sick. Your board considers compliance with the
corporate governance will erode whatever funds are available to be utilized
for the sustenance of the Company.
Your Director wish to record their profound gratitude towards the financial
Institutions, especially Tamil Nadu Industrial Investment Corporation and
The Catholic Syrian Bank Ltd., Singanallur, Coimbatore for the excellent
help and co-operation extended by them.
Out thanks are also due to our customers who encouraged our products and
whose unstinted support is a source of inspiration.
We also take this opportunity to assure our shareholders that it will be
our endeavour to see that their investments bear fruit at the earliest
In the last, we fully appreciate the valuable services rendered by our
staff and workers.
By order of the Board
For ASSOCIATED TEXTILE RUBBER PRODUCTS LIMITED
Place : Coimbatore T.N.Kutty
Date : 02.09.2006 Chairman cum Managing Director
ANNEXURE - 1 TO THE DIRECTORS REPORT
Information Pursuant to Section 217(1)(e) of the Companies Act, 1956
A. CONSERVATION OF ENERGY:
a. Energy conservation measure takes : High tension is converted
b. Additional Investments and
proposels, if any being on
implementation for reduction
of consumption of energy : Nil
c. Impact of the measures at (a) : energy charges reduced minimum
and (b) above for reduction of charges payable is reduced
energy consumption and consequent
impact on the cost of production
d) Total energy consumption and : 40777 75959
energy consumption per unit of 0.354 0.316
production as per Form A of
the annexure in respect of
Industries specified in the
schedule there to
A. TECHNOLOGY ABSORPTION:
e. Effort made in technology : N.A.
absorption as per From B of
B. FOREIGN EXCHANGE AND OUTGO : N.A.
f. Activities relating to export, : N.A.
initiatives taken To increase
exports, development of new
Export market for Produced and
services, and Export plans
g. Total foreign exchange used
and earned : N.A.
FORM A (See Rule7)
From of disclosure of particulars with respect to conservation of energy:
Current year Previous year
A. POWER AND FUEL CONSUMPTION:
a. Purchase Units 40777 75061
Total amount (Rs.) 194131 352788
Rate/Unit (Rs.) 4.70
b. Own Generation:
Through diesel generator (Unit) 520 898
Units per litre of diesel oil 10 Units 10 Units
Cost/Unit (Rs.) 2.6 2.40
3. Furnace oil
4. Others / Internal generation
13. CONSUMPTION PER PIECE OF APRON
& COT PRODUCED
Electricity (Units) 0.354 0.515
FORM B (SEE RULE 2):
From of disclosures of particulars with respect to absorption:
RESEARCH AND DEVELOPMENT' (R & D):
1. Specific areas in which R & D:
carried out by the company : Nil
2. Benefits derived as a result
of the above R & D : Not Applicable
3. Future plan of action : Nil
4. Expenditure on R & D
d. Total R & D expenditure as a
percentage of total turnover : Nil
TECHNOLOGY ABSORPTION, ADAPTION &
1. Efforts, in brief, made towards
technology absorption and
innovation : Nil
2. Benefits derived as a result of the
above efforts e.g. product improvement,
cost reduction, product development,
import substitution etc., : Not Applicable
3. In case of imported technology (imported
during the last five years reckoned from
the beginning of the financial year)
following information may be furnished
a. Technology imported
b. year of import
c. Has technology been fully absorbed?
d. If not fully absorbed, areas where this
has not taken place, reasons therefore
and future plans of action : Not Applicable