| The Directors have pleasure in Presenting the Annual Report together
with the Audited Accounts of the Company for the year ended 31st March,
2000.
FINANCIAL RESULTS
During the year under review, company suffered a loss of Rs. 51.63
lakhs. The cumulative loss stands at Rs. 73.87 lakhs.
Company is making every efforts to manufacture some value added
products thereby the bottomline can be improved. Bank have been
approached for a rehabilitation plan.
ACCOUNTING POLICIES
The Company has complied with the Accounting Standards of the Institute
of Chartered Accountants of India, and the Accounts have been drawn in
conformity with those Accounting Standards
PROJECTION VS PERFORMANCE
(Rs. In Lakhs)
Projection as per Actual
Public Issue prospectus Performance
dated 16.2.96
Total Income 1070.03 149.42
Profit Before Tax 124.60 -51.63
Profit After Tax 124.60 -51.63
EPS (RS.) 2.40 -
Dividend (%) 12% -
DIRECTORS
M/s. Sanil John, T.K.Gopalakrishnan Nair and Dr. Gimjose Chittattu
retire by rotation and being eligible offers themselves for
reappointment.
PUBLIC DEPOSIT.
During the year under review, Company has not accepted any deposit from
public through advertisement.
PARTICULARS REGARDING CONSERVATION OF ENERGY & FOREIGN EXCHANGE
EARNINGS AND OUTFLOW
Information as per the Companies (Disclosure of particulars in the
Report of Board of Directors) Rules, 1998 relating to conservation of
energy, technology absorption and foreign exchange earnings and outgo
are given in Annexure - `A' forming part of this report.
PERSONNEL
Pursuant to Section 217 (2A) of the Companies Act, 1956 read with the
Companies (particulars of Employees) Rules, 1975, there were no
employees during the year under report whose remuneration is not less
than Rupees Six Lakhs per annum or Rupees Fifty Thousand per month.
AUDITORS
The Auditors M/s. Krishnamoorthy & Co., Chartered Accountants, Kollam,
Kerala retire at the forthcoming Annual General Meeting, and being
eligible, offer themselves for reappointment.
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