Professional Documents
Culture Documents
DIRECTORS' REPORT
Gross Revenue increased by 40% during the year, the highest growth
recorded
in the last ten years. In the process the milestone of Rs. 1000 crores
(Rs.
10000 million) has been achieved. Domestic sales grew by 34% and
Exports by
70%. Net Profit from Operations increased by 31% over 1994.
Interest cost has risen very sharply on account of higher funding needs
to
service recently commissioned projects, as well as to meet increased
export
orders, for which materials often had to be purchased in advance.
The Company's overall sales and profit progression during 1995 can thus
be
considered very satisfactory The current year has started well and
your
Directors are hopeful of another very satisfactory year.
Dividends
Two interim dividends of Rs 2.50 each totalling Rs. 5/- per equity
share,
were paid during the year. Your Directors are pleased to recommend a
final
dividend of Rs. 1.50 per equity share (making a total of Rs. 6.50,
subject
to tax). If approved, the final dividend, will be payable to
the
shareholders registered at the close of business hours on 13th May,
1996.
Debentures
The Directors certify that the funds raised by the issue of
Secured
Redeemable Non Convertible Debentures have been utilised for the
purpose
for which the funds were raised and the same have not been diverted for
any
other purpose.
Public Deposits
Business Development
The Directors are pleased to state that the concrete steps initiated
last
year in respect of the following key business areas are proving
extremely
fruitful:
Performance of the major new products launched over the past two
years
continues to be very satisfactory - in particular BONUS Soya-Based
Health
Beverage, POLO Mint, MILKMAID Dessert Mixes, and CONTADINA Snack
Dressing
Encouraged by this success, new variant, for a number of these products
are
in the process of being introduced.
The above steps are likely to be completed by the end of this year,
and
subsequently, similar efforts will also be undertaken for other
key
agricultural raw materials, to the mutual benefit of both the Company
and
the farmers/ planters.
Directors
Mr. Lim Khing Fong, appointed in the casual vacancy, brings with him
rich
experience and specialised knowledge relevant to the business of
the
Company as a result of his long association with Nestle S.A.,
Switzerland.
He holds office till the Annual General Meeting, and is eligible
for
reappointment. Notice has been received from a member signifying
his
intention to propose him as a Director.
Auditors
Employees
NARENDRA SINGH
CHAIRMAN