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अल्फा ड्रग्स इंडिया निदेशकों की रिपोर्ट, अल्फा ड्रग्स इंडिया निर्देशकों द्वारा रिपोर्ट

अल्फा ड्रग्स इंडिया

बीएसई: 500006  |  NSE: ALPHADRUG  |  ISIN: INE256B01026  |  Pharmaceuticals

खोजें अल्फा ड्रग्स इंडिया कनेक्शन
निदेशकों की रिपोर्ट वर्षांत : Mar '05
The Directors are pleased to present the 18th Annual Report and the
 Audited Statements of Account of the Company for the year ended 31st
 March, 2005.
 
 FINANCIAL RESULTS                                                         
 
 (Rs. in Lacs)
 
 Particulars                                         2004-05   2003-04
 
 Sales/Income from Operations                        2884.20   2577.78
 Other Income                                         557.67     87.87
 Total Income                                        3441.87   2665.65
 Total Expenditure                                   3446.57   2365.34
 Profit/Loss (-) Before Depreciation & Tax             -4.70    300.31
 Depreciation                                         147.43    167.25
 Provision for Tax                                         -         -
 Profit/Loss (-) for the year                        -152.13    133.06
 Prior Period adjustment/Extra Ordinary Item          -25.29     36.23
 Net Profit/Loss (-)                                 -177.42    169.29
 
 OPERATIONS
 
 During the year under review the sales of the Company have risen by 12%
 at Rs. 28.84 crores as compared to Rs. 25.78 crores of last year. The
 Company has recorded a loss of Rs. 1.77 crores as compared to profit of
 Rs. 1.69 crores in the last year. The working of the Company has been
 affected mainly on account of the suspension of working in plant due to
 flash flood in the premises of the Company on 3.8.2004. The Company has
 filed a claim of Rs. 221 lacs with the Insurance Company which is under
 their consideration for settlement.
 
 In order to make optimum utilization of the plant and machinery,
 utilities and other infrastructure and to generate additional revenue,
 the Company has entered into an agreement for the contract
 manufacturing of one pharma product with one of the Indian
 multinational companies.
 
 The efforts to sustain growth in the Company are being taken on all
 possible fronts.
 
 AMALGAMATION
 
 In order to restructure the activities of the Company and for the long
 term benefits, the Board of Directors have approved by majority the
 Scheme of Amalgamation of the Company and STS Chemicals Limited with
 Punjab Chemicals & Crop Protection Limited, subject to the approval of
 the Hon'ble High Court of Punjab & Haryana at Chandigarh.  Accordingly,
 for the approval of the above said scheme, Court convened Meetings of
 Equity Shareholders; Unsecured Creditors and Secured Creditote were
 held on 23rd July, 2005.  In the aforesaid meetings, resolutions for
 the approval of the above scheme were passed by the requisite majority
 under Section 391(2) of the Companies Act, 1956 by the Equity
 Shareholders, Unsecured Creditors and Secured Creditors. Thereafter,
 final Petition was filed by the Company in the Hon'ble High Court of
 Punjab & Haryana at Chandigarh, which is pending.
 
 The Directors feel that the aforesaid scheme of amalgamation will
 provide the benefit of economies of scale, lower operating cost,
 diversifying business risks, technological development, integrated
 marketing strategies and integrated R&D activities, etc.
 
 FINANCE
 
 During the year, to achieve substantial reduction in the interest rate,
 the Company has shifted its working capital limits sanctioned jointly
 by the Punjab National Bank and Allahabad Bank to UTI Bank Ltd.  The
 Company has also taken Term Loan and Corporate Loan for expansion,
 re-engineering and updation of the plants from UTI Bank Ltd.  Punjab
 Chemicals and Crop Protection Limited (PCCPL), the holding Company has
 given the Corporate Guarantee as an additional security for all those
 borrowings.
 
 The Company has also taken an additional unsecured loan of Rs. 0.50
 crores from its holding Company (PCPL) during the year.  The Company
 has not accepted any deposit from the public during the year under
 review.
 
 REDUCTION OF CAPITAL
 
 The Equity Share Capital of the Company was reduced from Rs. 37.92
 Crores to 7.58 Crcre, pursuant to the order of the Hon'ble High Court
 of Punjab & Haryana at Chandigarh dated 3.12.2004, as amended on
 14.1.2005.
 
 LISTING OF SHARES
 
 The Equity Shares of the Company remain listed at Stock Exchange,
 Mumbai, having nation wide terminals and Calcutta Stock Exchange.  The
 Company has paid annual listing fees upto the financial year 2005-06 to
 both the Stock Exchanges. However, the application for delisting of
 Equity Shares of the Company from Calcutta Stock Exchange filed during
 March, 2004 is still under process with the Exchange as on date.
 
 CORPORATE GOVERNANCE
 
 As required under Clause 49 of the Listing Agreement, a Report on
 Corporate Governance is enclosed as annexure to this report. Auditor's
 Certificate on the compliance of Corporate Governance is also annexed
 with this report.
 
 INFORMATION PURSUANT TO SECTION 217 OF THE COMPANIES ACT, 1956.
 
 i) PARTICULARS REGARDING CONSERVATION OF ENERGY ETC.
 
 Particulars as prescribed under Section 217(1)(e) of the Companies
 Act,1956, read with the Companies (Disclosure of Particulars in the
 Report of Board of Directors) Rules, 1988, are annexed to this Report.
 
 ii) PARTICULARS OF EMPLOYEES.
 
 The information as required under section 217(2A)(a) of the Companies
 Act,1956 read with the Companies (Particulars of Employees) Rules,
 1975, is not given because there is no employee in the Company, whose
 remuneration exceeds the limit prescribed under the relevant
 provisions.
 
 iii) RESPONSIBILITY STATEMENT
 
 As required under Section 217 (2AA) of the Companies (Amendment) Act,
 2000, your Directors state :
 
 i) that in the preparation of the annual accounts for the year ended
 31st March, 2005, the applicable accounting standards had been followed
 along with proper explanation relating to material departures, if any.
 
 ii) that they had selected appropriate accounting policies and applied
 them consistently and made judgements and estimates that are reasonable
 and prudent so as to give a true and fair view of the state of affairs
 of the Company at the end of the financial year as at 31st March, 2005
 and of the toss of the Company for that period;
 
 iii) that they had taken proper and sufficient care for the maintenance
 of adequate accounting records in accordance with the provisions of the
 Companies Act, 1956, for safeguarding the assets of the Company and for
 preventing and detecting fraud and other irregularities;
 
 iv) that the annual accounts have been prepared on a going concern
 basis.
 
 DIRECTORS
 
 During the year under review, Shri Anil Kohli stepped down from the
 directorship of the Company w.e.f. 23.3.2005. The Board wishes to place
 on record its appreciation of the valuable contributions made by him
 during his association with the Company.
 
 Shri L. Rajagopalan was appointed as an additional director on the
 Board of the Company on 17.08.2004. He holds office upto the ensuing
 Annual General Meeting of the Company. The Company has received notice
 from a member proposing the candidature of Shri L. Rajagopalan for
 being appointed as a Director of the Company.
 
 Shri G N Gupta, Director, Shri Avtar Singh, Director, Shri Punit K.
 Abrol, Directors, retires by rotation at the ensuing Annual General
 Meeting and being eligible offer themselves for re-appointment.
 
 Brief profile of the Directors who are being appointed/reappointed, is
 given as Annexure II to the Notice of the ensuing AGM.
 
 COST AUDIT
 
 The Company has re-appointed M/s Verma, Verma & Associates, as the Cost
 Auditor for conducting audit of `Bulk Drugs' being manufactured by the
 Company. The report on the Cost Audit has already been submitted by
 them to the Central Government directly.
 
 STATUTORY AUDITORS
 
 The Auditors of the Company M/s S.Tandon & Associates, Chartered
 Accountants, hold office upto the conclusion of the forthcoming Annual
 General Meeting. They have expressed their willingness to continue in
 office, if re-appointed, and have furnished the requisite certificate
 of their eligibility pursuant to Section 224(1B) of the Companies Act,
 1956.
 
 AUDITORS'REPORT
 
 The observation of the Auditors in their Report have been explained in
 the Notes to the Accounts as referred to in their Report.
 
 INSURANCE
 
 The Company has acquired insurance cover for the possible risks like
 fire, flood, public liability, marine etc.
 
 ENVIRONMENT MANAGEMENT AND POLLUTION CONTROL
 
 The Company continues to take adequate measures for pollution control.
 The participation of the employees in the programmes for imparting
 knowledge in the areas of energy conservation, pollution control, value
 addition and reduction in waste generation are the ongoing process.
 
 DEPOSITORY SYSTEM
 
 The shares of the Company are tradable compulsorily in the electronic
 form. M/s Alankit Assignments Ltd. 2 E/21, Jhandewalan Extension, New
 Delhi are the Registrar of the Company for the physical as well as
 demat shares.
 
 EMPLOYEES & INDUSTRIAL RELATIONS
 
 The Directors take this opportunity to thank all the employees for
 their hard work, sincerity and dedicated service in the difficult time.
 
 The Company has started training and upgradation of the personnel for
 the upliftment of their career and standard of living.
 
 ACKNOWLEDGEMENTS
 
 The Directors express their gratitude to PCCPL, the holding Company for
 their unstinted support to conduct the affairs of the Company. The help
 from customers, vendors, shareholders, investors, business partners,
 bankers (UTI Bank), financial institutions, business associates and
 advisors are deeply acknowledged with thanks and we look forward to
 their continued support.
 
 For and On behalf of the Board of Directors
 
 Place : New Delhi               (G. Narayana)
 Dated : 26th November, 2005     Chairman
 
 ANNEXURE TO THE DIRECTORS'REPORT FOR THE YEAR 2004-05
 
 Conservation of Energy, Technology Absorption, Foreign Exchange
 Earnings and Outgo in accordance with Companies (Disclosure of
 Particulars in the Report of Board of Directors) Rules, 1988.
 
 I) CONSERVATION OF ENERGY
 
 a) Energy Conservation Measures taken:
 
 Energy conservation is taken as continuous process and high rated
 motors are being replaced to reduce electrical consumption.
 
 Plants are being run at optimum capacity so as to optimize the use of
 utilities.
 
 Alternative fuel to save the energy cost has been identified and action
 has already been intitiated.
 
 b) Additional Investments and proposal, if any, being implemented for
 reducing the consumption of energy.
 
 New Boiler has been planned and ordered out with alternative fuel so as
 to save on energy cost.
 
 Additional product being added within the same utility load so as to
 reduce the .utility consumption per kg of the products.
 
 c) Impact of (a) and (b) above for reduction of energy consumption and
 consequent impact on cost of production of goods.  The production cost
 of the products being manufactured has come down because of the saving
 in electrical consumption.
 
 d) Total energy consumption and energy consumption per unit of
 production, as per prescribed Form `A'.
 
 B. Consumption per unit of Production
 
 Due to complexities of the operations and recording system of the
 Company, itemwise data is not identifiable.
 
 II) TECHNOLOGY ABSORPTION
 
 Form `B' for disclosure of particulars with respect to Technology
 Absorption.
 
 FORM `B'
 
 RESEARCH AND DEVELOPMENT (R&D)
 
 1. Specific areas in which R&D was carried out by the Company.
 
 Process modification was done in the existing products.
 Facilities recognized by DSIR.
 The process for the new products developed and some of the product have
 been taken on commercial scale.
 
 2. Benefits derived as a result of the above R&D.
 
 Increase in turnover and reduction in the cost of production.
 
 3. Future plan of action :
 
 - R&D on new product development. Continuous process improvement of old
 products to save on repairs and maintenance, power, fuel, effluent,
 etc.
 
 4. Expenditure on R&D                          2004-2005    2003-2004
                                                (Rs. Lacs)   (Rs. Lacs)
 
 a) Capital                                        22.11        0.50
 b) Recurring                                       8.54        1.69
 c) Total                                          30.65        2.19
 d) Total R&D expenditure as
    % age of total turnover                         1.06        0.08
 
 TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION
 
 1. Efforts, in brief, made towards technology absorption, adaptation
 and innovation.
 
 Development of process technologies to add more products with minimum
 possible investment.
 
 2. Benefits derived as a result of the above efforts, e.g.  product
 simprovement and cost reduction, product development, import
 substitution etc.
 
 The Company has been able to increase the turnover
 
 3. Technology imported during the last 5 years :
 
 The Company has not imported any technology.
 
 III) FOREIGN EXCHANGE EARNINGS AND OUTGO
 
 a) Activities relating to export initiatives taken to increase exports,
 development of new export markets for products and export plans.
 
 Participation in the International Chemical Exhibition and conducting
 personal visits to customers.
 
 The Company is certified for ISO 9001:2000 and ISO 14001:1996.
 
 The Company has obtained renewal of COS certification for supply of
 Trimethoprim in Europe market.
 
 b) Total Foreign Exchange earned and used
 
                                            2004-2005      2003-2004
                                          (Rs. in lacs)  (Rs. in lacs)
 
 i) Earned                                    1111.60       1181.13
 ii) Used                                     1012.54        629.81
 
                            For and On behalf of the Board of Directors
 
 Place : New Delhi                                         (G.Narayana)
 Dated : 26th November, 2005                                   Chairman
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1116.79 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `450.36 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `58.91 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1197.47 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `1280 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `22.75 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `1.60 Cr की बिकवाली
  • CS ON AUROBINDO PHARMA : रेटिंग Neutral से घटाकर Underperform
  • CS ON AUROBINDO PHARMA : लक्ष्य `450/Sh से घटाकर `345/Sh
  • HSBC ON BAJAJ FIN : BUY रेटिंग, लक्ष्य `4,860 से घटाकर `3,750/Sh

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