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कावेरी इंजीनियरिंग इंडस्ट्रीज निदेशकों की रिपोर्ट, कावेरी इंजीनियरिंग इंडस्ट्रीज निर्देशकों द्वारा रिपोर्ट

कावेरी इंजीनियरिंग इंडस्ट्रीज

बीएसई: 522062  |  NSE: N.A  |  ISIN:  |  Engineering

खोजें कावेरी इंजीनियरिंग इंडस्ट्रीज कनेक्शन
निदेशकों की रिपोर्ट वर्षांत : Mar '97
 Your Directors present the 23rd Annual Report and the Audited Accounts
 for the year ended 31st March, 1997
 
 FINANCIAL RESULTS
 
                                                  1996-97       1995-96
                                                      (Rs. in Lakhs)
 
 Turnover                                         1805.60       3502.58
 Profit Before Interest and Depreciation            92.76        689.24
 Interest                                          625.89        450.32
 Depreciation                                      128.97        127.49
 Profit/(Loss) before Tax                         (662.10)       111.43
 Provision for Tax                                      -             -
 Profit/(Loss) after Tax                          (662.10)       111.43
 Profit brought forward                            212.07        182.00
 Previous year's excess provision
 of dividend written back                               -          0.05
 Excess payment of Income Tax refunded                  -             -
 Profit/(Loss) available for appropriation        (450.03)       293.48
 Transfer to Debenture Redemption Reserve               -         25.00
 Transfer from/to General Reserve                  356.00          2.96
 Proposed Dividend                                      -         53.45
 Profit/(Loss) carried to Balance Sheet            (94.03)       212.07
 
 
 There has been a substantial drop in the turnover during the year under
 review as compared to the previous year.  The Company had faced several
 constraints and the liquidity constraints caused further strain.  This
 had resulted in the inventories to be carried forward for a longer
 period, resulting in additional interest burden.  Thus it affected the
 turnover significantly resulting in net loss for the year.
 
 DIVIDEND
 
 The loss for the year ended 31.03.1997 resulted in your Directors not
 being able to consider any Dividend.
 
 TECHNOLOGY
 
 During the year under review, your Company could not actively involve
 in upgrading the technological strength owing to liquidity constraints.
 However, with the technology base available it has earned a position to
 serve the Customers at large on Re-engineering and Retrofeiting of the
 Plant and equipments.  The Company is involved in high-tech areas and
 it is still pursuing the technology upgradation programme by arranging
 for strategic alliance and turnkey supplies of plant and equipment.
 
 RESEARCH AND DEVELOPMENT
 
 Details of work on R & D are available in a separate Annexure forming
 part of this Report.
 
 OUTLOOK FOR THE FUTURE AND DIVERSIFICATION
 
 The Technology upgradation and strict Quality Control procedures to
 meet the International Standards keep the Company in good stead as
 leading Manufacturer in High-tech Capital goods for the Core Sector.
 During the year there has been a reduction in investment in the core
 sector, as all of them are either on drawing board, evaluation status
 or approval status.  The Company hopes that from the second half of
 1997 there will be phenomenal investment that will take place in the
 Core sector industries, which would result in substantial business to
 the Company.  With the Order book position at Rs. 52 Crores it hopes to
 achieve a turnover of over Rs. 35 Crores for the current year ending
 31.03.1998.
 
 Your Directors are pleased to inform you that your Company's new
 venture into manufacture of Industrial Enzymes, as a Division of your
 Company, has commenced its activities near Chennai.  Term loan has been
 obtained from The Industrial Finance Corporation of India.  The Plant
 and machinery required for the Project have arrived and construction
 activities have commenced.  There has been a delay in completion of the
 Project due to liquidity constraints.  However, the Company hopes to
 commission the Project during the current financial year.
 
 INDUSTRIAL RELATIONS
 
 The Industrial Relations with the employees of the Company were cordial
 during the year under review.
 
 DIRECTORS
 
 The following Directors retire on rotation at the ensuing Annual
 General Meeting and are eligible for re-appointment as Directors :
 
 1) Mr. M. Sukumar
 
 2) Mr. M. Sriram
 
 
 Both Mr. M. Sukumar and Mr. M. Sriram being eligible, offer themselves
 for re-appointment.
 
 AUDITORS
 
 The Shareholders have to elect the Auditors of the Company for the
 current year to hold office from the conclusion of the ensuing Twenty
 Third Annual General Meeting till the conclusion of the next Annual
 General Meeting and fix their remuneration.  M/s. P.S. Gopalakrishnan &
 Co., Chartered Accountants, Chennai, the retiring Auditors, being
 eligible offer themselves for re-appointment.
 
 PARTICULARS OF EMPLOYEES
 
 The particulars required under Section 217(2A) of the Companies Act,
 1956 are furnished in a separate Annexure forming part of this report.
 
 FIXED DEPOSITS
 
 The Fixed Deposits accepted by the Company as on 31st March, 1997
 amounted to Rs. 83,44,000/-.  There were no unclaimed deposits as on
 that date.
 
 ACKNOWLEDGEMENTS
 
 Your Directors acknowledge with gratitude the assistance and support
 extended by various Customers, Collaborators, Educational and Research
 Institutions, Consultancy and Contracting Organisations.  Your
 Directors wish to express their sincere thanks to the Consortium of
 Banks led by State Bank of India with UCO Bank, Bank of Baroda and
 Central Bank of India, Financial Institutions, various Departments of
 the State and Central Governments for their valuable support and
 assistance extended to the Company.
 
 Your Directors wish to place on record their deep appreciation of the
 dedicated services by all the employees of your Company and look
 forward to their continued support.
 
 RESEARCH AND DEVELOPMENT
 
 1. Specific areas in which R&D Activities carried out by the Company
 
 a) Development of welding techniques for dissimilar materials using
 inconel Electrodes
 
 b) Development of expertise in supply of systems to the Offshore
 installation
 
 c) Development of engineering for equipments for Pulp Industry
 
 d) Development of welding techniques for Nickel Cladding of equipments
 
 2. Benefits derived as a result of the above R&D
 
 a) Successful welding of dissimilar material using Inconel electrodes
 
 b) Order and supply of equipment to the Pulp Industry
 
 c) Successful supply of Nickel Clad equipments
 
 3. Future plan of action
 
 a) Development of Process Engineering of small chemical plants on
 turnkey basis
 
 b) Development of Engineering of Pipe Reactor for a Fertilizer Industry
 
 c) Development of higher activity strains for manufacture of Enzyme
 
 4. Expenditure on R & D
 
    a) Capital                             -  Nil
    b) Recurring                           -  Rs. 8,43,315/-
    c) Total                               -  Rs. 8,43,315/-
    d) Total R&D expenditure as a 
       percentage of total turnover        -  0.47%
 
 5. Technology Absorption, Adoption and Innovation
 
 a) The Company's R&D activities are recognised by the Ministry of
 Science and Technology, Government of India.
 
 The Company has fully absorbed the various technologies imported.  It
 has also been continuously striving to improve such technologies to
 suit the Indian conditions, at the same time improving the quality of
 the products.
 
 b) The manpower development not only for commercial exploitation of
 such development but also for multi-skill is being undertaken by the
 Company.
 
 c) In case of imported technology (imported during the last five years
 reckoned from the beginning of the financial year) following
 information is furnished
 
 
 Technology  Year of  Has technology   If not fully absorbed, areas 
 imported    import   been fully       absorbed where this has not taken 
                      absorbed         place, reasons there-for and 
                                       future plans of action
 
 Design and 
 manufacture 
 of Desalter 
 from 
 PETROLITE,
 USA (Import 
 of Design 
 and           1993       Yes                 Not applicable
 Drawing)
 
 
 Statement of particulars of employees pursuant to the provisions of
 Section 217(2A) of the Companies Act, 1956, read with the Companies
 (Particulars of Employees) Rules, 1975, as amended and forming part of
 the Directors' Report for the Financial Year ended 31st March, 1997.
 
 1. Name & Age (Years) of the employee  :  Sri M. Kalidas (55)
 2. Designation/Nature of duties        :  Chairman & Managing Director
 3. Gross Remuneration                  :  Rs. 4,26,000/-
 4. Qualification/Experience (Years)    :  F.I.E., M.I.M.A. (36)
 5. Date of commencement of employment  :  16.08.1976
 6. Previous Employment                 :  Managing Partner
                                           Kaveri Structurals
             
 
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `995 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `853 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `729 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1002 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `922 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `1176 Cr की बिकवाली
  • ENTERS IN F&O BAN : SAIL के F&O में नई पोजीशन पर रोक
  • STILL IN F&O BAN : EQUITAS, BHEL, GLENMARK, I-BULLS HSG

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