Dear Members,
Your Directors are pleased to present the 23rd Annual Report together with
Audited Statement of Accounts of the Company for the financial year ended March 31, 2016.
FINANCIAL RESULTS
The standalone operating performance of your company for the financial year ended March
31, 2016 is depicted below:
|
(Rs. In Lakhs except per share data) |
| Particulars |
2015-16 |
2014-15 |
| Revenue from Operations |
114164.54 |
93270.86 |
| Other Income |
289.46 |
469.31 |
| Total Income |
114454.00 |
93740.17 |
| Less: |
|
|
| Operating & Administrative expenses |
95216.70 |
76993.38 |
| Operating Profits (PBDIT) |
19237.30 |
16746.79 |
| Less: |
|
|
| Depreciation |
1242.92 |
957.88 |
| Interest Expenses |
9738.47 |
7653.35 |
| Profit Before Extraordinary Items & Tax |
8255.91 |
8135.56 |
| Less: |
|
|
| Extraordinary Items |
1.06 |
20.81 |
| Profit Before Tax |
8254.85 |
8114.75 |
| Less Tax Expenses |
2695.51 |
2621.39 |
| Net Profit After Tax from |
|
|
| Ordinary Activities |
5559.34 |
5493.36 |
| Add: Balance brought forward |
22911.25 |
18826.90 |
| Less: Adjustment of Account of change in useful life of Asset |
—- |
300.32 |
| Amount available for appropriation |
28470.59 |
24019.94 |
| Appropriations: |
|
|
| Transfer to General Reserve |
500.00 |
500.00 |
| Proposed Dividend on |
|
|
| Redeemable Preference Share |
310.40 |
310.40 |
| Proposed Equity Dividend |
97.66 |
195.32 |
| Dividend Distribution Tax |
83.07 |
102.95 |
| Balance Carried Forward |
27479.46 |
22911.27 |
| Earnings Per Share ( per share) |
|
|
| Basic |
53.10 |
52.42 |
| Diluted |
53.10 |
52.42 |
OPERATIONS AND REVIEW (Company’s Performance)
During the year under review total revenue from the standalone operations of your
Company has increased to . 11,4164.54 Lakhs from Rs. 93,270.86 Lakhs in the previous year
at a growth rate of 22.40%. Operating Profit (EBITDA) was Rs. 19237.30 Lakhs, against Rs.
16746.79 Lakhs in the previous year. Profit after Tax for the year was Rs. 5559.34 Lakhs,
against Rs. 5493.36 Lakhs in the previous year. Detailed report on operations of and
structure of Business of the Company has been included in Management Discussion and
Analysis Report, which forms part of this Annual Report.
DIVIDEND
Based on Company’s performance and future business plans, your Directors are
pleased to recommend dividend of Rs. 1.00/- per equity share (previous year Rs. 2.00/- per
equity share) on 9766166 equity shares of Rs. 10/- each for the year ended March 31, 2016.
The Dividend if approved by the shareholders will be paid to the eligible shareholders
within the period stipulated under the Companies Act, 2013. The Redeemable Preference
Shareholders are entitled to dividend of 8.00% per annum. Accordingly, the Directors have
recommended, for approval of the Members, a dividend of Rs. 8.00 per Share on 38,80,000
Redeemable Preference Shares of Rs. 100/- each for the ended March 31, 2016.
MANAGEMENT DISCUSSION AND ANALYSIS (MDA):
A Separate report on Management Discussion and Analysis Report has been presented in a
separate section, which forms part of this Annual Report.
SUBSIDIARY COMPANIES AND CONSOLIDATED FINANCIAL STATEMENTS:
Your Company has four subsidiary Companies, out of which one company (Arav Enterprise
Pte. Ltd.) has became subsidiary company during the year under review and no company has
been ceased to be subsidiary during the year under review. Pursuant to Section 129(3) of
the Companies Act, 2013 and Accounting Standard- 21 issued by the Institute of Chartered
Accountants of India, Consolidated Financial Statements presented by the Company include
the Financial Statements of its Subsidiaries. Further, a separate statement containing the
salient features of the financial statements of subsidiaries of the Company in the
prescribed form AOC-1 has been disclosed in the Consolidated Financial Statements.
Pursuant to the provisions of Section 136 of the Companies Act, 2013, the Company shall
place separate audited accounts of its Subsidiary Companies on its website at
www.anillimited.com.
The Company policy in place relating to material subsidiaries, which available on the
Company’s website at the link: "http://www.anillimited.com/investorsshareholder/
policy.htm".
DIRECTORS
(i) Board of Directors:
The Company recognizes the importance of a diverse board in its success. The Board of
Directors of your Company is lead by the Chairman and Managing Director and comprises two
Executive Director and two Non Executive Independent Director on March 31, 2016. Shri
Nalinkumar Thakur (DIN 03540700) was appointed as an Executive Director of the Company
w.e.f. November 6, 2015.
Shri Anurag Kothawala (DIN 00059037), Shri Shashin Desai (DIN 03539693) and Prof.
Indira Parikh (DIN 00143801) have resigned from the Board w.e.f. October 17, 2015,
November 6, 2015 and December 31, 2015 respectively. Shri Amol Sheth (DIN 00025357)
retires by rotation as director at the upcoming Annual General Meeting and being eligible
offers himself for re-appointment. Particulars of the Director retiring by rotation and
seeking reappointment are annexed to the notice convening the Annual General Meeting.
(ii) Meetings of Board of Directors:
The Board of Directors of the Company met five times during the year under review. The
details of board meetings and the attendance are provided in the Corporate Governance
Report which forms part of this Report.
(iii) Confirmation by Independent Directors and Separate Meeting:
In compliance with the provisions of Section 149 (7) of the Companies Act, 2013, all
Independent Directors have submitted their declarations of independence, stating that they
meet the criteria of independence. Pursuant to Section 149 (8) read along with Schedule IV
of the Companies Act, 2013, separate meeting of the Independent Directors of the Company
was held on August 3, 2015, without the attendance of Non-Independent Directors and
members of management. The Independent Directors reviewed the performance of
non-independent directors and the Board as a whole; the performance of the Chairperson of
the Company, taking into account the views of Executive Directors and Non-Executive
Directors and assessed the quality, quantity and timeliness of flow of information between
the Company Management and the Board that is necessary for the Board to effectively and
reasonably perform their duties.
The Company conducts Familiarization Programme for the Independent Directors to provide
them an opportunity to familiarize with the Company. Detailed information on this has been
included in Corporate Governance Report, which forms part of this Annual Report.
iv) Board Evaluation:
Pursuant to the provisions of the Act and Rules made there under and as provided in
Schedule IV of the Companies Act, 2013 and the Board has adopted method for evaluating its
performance and also of its Committees and individual Directors, Chairman of the Board.
Detailed information on this has been included in Corporate Governance Report, which forms
part of this Annual Report.
The evaluation was carried out through a defined process covering the areas of the
Boards functioning viz. composition of the Board and Committees, understanding of roles
and responsibilities, experience and competencies, contribution at the meetings etc.
v) Remuneration Policy:
Pursuant to the requirement of Section 134(3)(e) and Section 178(3) of the Companies
Act, 2013, the Board has, on the recommendation of the Nomination and Remuneration
Committee, framed a policy on appointment of Directors including criteria for determining
qualifications, positive attributes, independence of a Director and the policy on
remuneration of Directors, KMP and other senior management is attached as Annexure A,
which forms part of this report.
PARTICULARS OF REMUNERATION OF DIRECTORS/KMP/EMPLOYEES
The information required pursuant to Section 197 read with Rule 5 of the Companies
(Appointment & Remuneration of Managerial Personnel) Rules 2014 in respect of
employees of the Company will be provide upon request. In terms of Section 136 of the Act,
the reports and accounts are being sent to the members and others entitled thereto
excluding the information on employees particulars which is available for inspection by
members at the registered office of the Company during the business hours on all working
days of the Company up to the date of ensuing Annual General Meeting of the Company. If
any member is interested in inspection the same, the member may write to the Company
Secretary in advance.
DIRECTORS’ RESPONSIBILITY STATEMENT
In terms of Section 134 (3) (c) of the Companies Act, 2013, in relation to financial
statements of the Company for the year ended March 31, 2016, the Board of Directors state
that: (i) in the preparation of the annual financial statements, applicable accounting
standards have been followed and there are no material departures from the said standards;
(ii) such accounting policies have been selected and applied consistently and judgments
and estimates made that are reasonable and prudent so as to give a true and fair view of
the state of affairs of the company as at March 31, 2016 and of the profit of the company
for the year ended on that date; (iii) proper and sufficient care has been taken for
maintenance of adequate accounting records in accordance with the provisions of this Act
for safeguarding the assets of the company and for prevention and detection of fraud and
other irregularities; (iv) the annual financial statements have been prepared on a going
concern basis; (v) proper internal financial controls are in place and are adequate and
are operating effectively; and (vi) the systems to ensure compliance with the provisions
of all applicable laws are in place and are adequate and operating effectively.
CORPORATE SOCIAL RESPONSIBILITY
Pursuant to the requirements of Section 135 of Companies Act, 2013, your Company has
constituted a Corporate Social Responsibility Committee. The composition and terms of
reference of the Corporate Social Responsibility Committee is provided in the Corporate
Governance Report, which forms part of this report. Policy on Corporate Social
Responsibility is available on the website of the Company at
http://www.anillimited.com/investorsshareholder/ policy.htm. Report on CSR activities as
required under the Companies (Corporate Social Responsibility Policy) Rules, 2014 has been
appended as Annexure B to this Report.
CORPORATE GOVERNANCE
Your Company is committed to maintain highest standards of corporate governance and
practices. In line with the requirements of applicable Act, Regulations, your Company has
in place all the statutory Committees as required. A detailed report on Corporate
Governance along with the Compliance Certificate obtained from the practicing Company
Secretary Forms part of this Annual Report.
AUDITORS
M/s. Parikh & Majmudar, Chartered Accountants, Ahmedabad were appointed as
Statutory Auditors of your Company at the Annual General Meeting held on 30th September,
2014 for a term of four consecutive years. As per the provisions of Section 139 of the
Companies Act, 2013, the appointment of Auditors is required to be ratified by Members at
every Annual General Meeting. The Notes on Financial Statements are referred to in the
Auditors’ Report are self explanatory and do not call for any further comments.
Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/S. SPANJ
& ASSOCIATES, a firm of Company Secretaries in Practice to undertake the Secretarial
Audit of the Company for the year under review. The Board has duly reviewed the
Secretarial Auditor’s Report and the comments, appearing in the report are
self-explanatory and do not call for any further explanation by the Board of Directors as
provided under section 134 of the Act. The Secretarial Audit Report is annexed herewith as
"Annexure C".
PUBLIC DEPOSITS
During the year under review your Company has neither accepted nor renewed any Public
Deposits.
INSURANCE
The Company’s buildings, plant and machineries, stocks and other properties,
wherever necessary and to the extent required have been adequately insured.
RELATED PARTY TRANSACTIONS
Pursuant to the provisions of Section 134 (3) read with Section 188 (2) of the
Companies Act, 2013, details of transaction for the year under review are given in Form
AOC 2 as Annexure D to this report and in the section on Related Party Transactions in
Corporate Governance Report.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
Details of Loans, Guarantees and Investments are provided in the notes to the Financial
Statements.
EXTRACT OF ANNUAL RETURN
Extract of the Annual Return in Form MGT-9, is annexed to this Report as Annexure E.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
The particulars as prescribed under Section 134 (3)(m) of the Companies Act, 2013, read
with Rule 8 of the Companies (Accounts) Rules, 2014, relating to the Conservation of
Energy, Technology Absorption, Foreign Exchange Earnings and Outgo are set out in Annexure
F, which forms part of this report.
RISK MANAGEMENT
Your Company has implemented an integrated risk management approach to review and
assess significant risks on a continuous basis to ensure that there is a system for risk
controls and mitigation in place. Management periodically reviews this risk management
framework to keep updated and address emerging challenges.
VIGIL MECHANISM POLICY / WHISTLE BLOWER POLICY
Details on Vigil Mechanism policy / whistle blower policy is provided in the Corporate
Governance Report which forms part of this Report
ITERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY
The details of internal financial control and their adequacy are included in the
Management Discussion and Analysis Report, which forms part this report.
PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE
As per the requirement of The Sexual Harassment of Women at Workplace (Prevention,
Prohibition & Redressal) Act, 2013 read with rules made there under, your Company has
constituted Internal Complaints Committee which is responsible for redressal of complaints
related to sexual harassment. No complaints pertaining to sexual harassment received
during the year under review.
ACKNOWLEDGEMENTS
We thank our customers, vendors, investors, bankers for their continued support during
the year. We place on record our appreciation of the contribution made by our employees at
all levels and look forward for their continued support in the future.
|
For and on behalf of the Board |
| Place: Ahmedabad |
Amol Sheth |
| Date: May 19, 2016 |
Chairman & Managing Director |
Annexure - A to the Directors’ Report
POLICY ON APPOINTMENT, REMUNERATION & EVALUATION OF BOARD OF DIRECTORS, KMPs AND
SENIOR MANAGEMENT PERSONNEL
This policy for nomination and remuneration of Directors, Key Managerial Personnel
(KMP) and other employees has been formulated in terms of the provisions of the Companies
Act, 2013 and the Listing Agreement entered in to with the Stock Exchanges in order to
derive equitable remuneration to the Directors, KMPs and employees of the Company and to
synchronize the same with the objectives of the Company.
The Board has already constituted Nomination and Remuneration Committee (hereinafter
"the Committee") which shall be responsible for formulating the criteria for
appointment of Independent Director and evaluate the performance of every Director on the
Board and recommend to the Board remuneration for Directors, Key Managerial Personnel and
other Senior Management Personnel.
The Board has authority to reconstitute this committee from time to time.
This policy is divided in three parts:
PART I
POLICY FOR NOMINATION / APPOINTMENT AND REMOVAL OF DIRECTORS, KMPs AND SENIOR
MANAGEMENT
Nomination / Appointment:
1. The Committee shall identify and ascertain integrity, qualification, expertise and
experience of the person for appointment as Directors, KMP or Senior management level and
recommend to the Board his / her appointment.
2. The following persons shall be not eligible to be appointed as Executive Director
(Managing Director & Whole-time Director) if:
a. He is disqualified to act as a Director under the provisions of Section 164(1) and
other applicable provisions, if any, of the Companies Act 2013. If the disqualification is
subsequently removed, then the said person shall be eligible to be appointed as Executive
Director.
b. He does not satisfy requirements as prescribed in Part I of Schedule V of the
Companies Act, 2013. But the person who does not meet the criteria prescribed in Part I of
Schedule V, can be appointed as Executive Director if the approval of Central Government
is taken.
3. A person to be appointed as Director, KMP or senior management level should possess
adequate qualification, expertise and experience for the position he / she is considered
for appointment. The Committee has discretion to decide whether qualification, expertise
possessed by a person is sufficient / satisfactory for concerned position.
4. A person to be appointed as Director, should possess reputation for integrity, deep
expertise and insights in sectors / areas relevant to the Company, ability to contribute
to the Company’s growth, complementary skills in relation to the other Board Members.
5. A whole time KMP of the Company shall not hold office in more than one company
except its subsidiary Company at the same time. However, a whole time KMP can be appointed
as a Director in any Company, with the permission of the Board of Directors of the
Company.
6. Following factors shall be considered while appointing a person as an Independent
Director on the Board:
a. Integrity and relevant expertise and experience.
b. Requisite qualification so that he/she will exercise his/her role effectively.
c. Have an expert knowledge in field of the Company where the company operates and
shall provide his/her suggestions to the Board members of the Company to arrive at final
decision which is in the best interest of the Company.
d. Not be a promoter or related to promoter of the Company or its holding, subsidiary
or associate company;
e. Must not have any material or pecuniary relationship during the two immediately
preceding financial years or during the current financial year with the Company, its
holding, subsidiary or associate company or their promoters or directors.
f. The relatives of such person should not have had any pecuniary relationship with the
Company or its subsidiaries amounting to 2% or more of its gross turnover or total income
or Rs. 50 Lakhs or such higher amount as may be prescribed, whichever is less, during the
two immediately preceding financial years or in the current financial year;
g. He or his relatives must not:
(i) hold or has held the position of a Key Managerial Personnel or is or has been
employee of the Company or its holding, subsidiary or associate company in any of the
three financial years immediately preceding the financial year in which he is proposed to
be appointed.
(ii) is or has been an employee or proprietor or a partner, in any of the three
financial years immediately preceding the financial year in which he is proposed to be
appointed, of—(A) a firm of auditors or company secretaries in practice or cost
auditors of the company or its holding, subsidiary or associate company; or (B) any legal
or a consulting firm that has or had any transaction with the Company, its holding,
subsidiary or associate company amounting to ten per cent or more of the gross turnover of
such firm;
(iii) holds together with his relatives two per cent or more of the total voting power
of the company; or
(iv) is a Chief Executive or director, by whatever name called, of any non-profit
organization that receives 25% or more of its receipts from the Company, any of its
promoters, directors or its holding, subsidiary or associate Company or that holds 2% or
more of the total voting power of the Company; or
h. Such person who is proposed to be appointed as Independent Director shall possess
appropriate skills, experience and knowledge in one or more fields of finance, law,
management, sales, marketing, administration, research, corporate governance, technical
operations or other disciplines related to the Company’s business;
i. is not a material supplier, service provider or customer or a lessor or lessee of
the company;
j. is not less than 21 years of age;
k. The candidate shall not be disqualified under section 164, sub-section (1) and (2)
of the Companies Act, 2013;
l. The candidate shall give his/her declaration as provided in section 149(7);
m. It should be ensured that number of Boards on which such Independent Director serves
is restricted to Seven Listed Companies as an Independent Director and three listed
Companies as an Independent Director in case such person serving as a whole time
(Executive) Director of a listed Company.
Term / Tenure:
1. The Company shall appoint or re-appoint any person as its Managing Director, Whole
Time Director for a term not exceeding five years at a time. No reappointment shall be
made earlier than one year before the expiry of term.
2. The candidate appointed as an Independent Director shall be eligible to be
reappointed for a further period of 5 consecutive years, after the completion of his/her
tenure of first 5 years, subject to Board’s approval and the passing of a Special
Resolution by Shareholders. No Independent Director shall hold office for more than two
consecutive terms, but such Independent Director shall be eligible for appointment after
expiry of three year of ceasing to become an Independent Director.
Removal:
Due to reasons for any disqualification mentioned in the Companies Act, 2013 read with
any rules framed there under as amended from time to time, the committee may recommend to
the Board with reasons recorded in writing for removal of a Director or KMP subject to the
provisions and compliance of the said Act, rules and regulations.
Retirement:
The Whole Time Directors, KMPs and senior management personnel shall retire as per the
applicable provisions of the Companies Act, 2013 and the prevailing policy of the Company.
The Board will have the discretion to retain the Whole Time Directors, KMPs and senior
management personnel in the same position / remuneration or otherwise, even after the
retirement age, for the benefit of the Company.
PART II
REMUNERATION OF MANAGING DIRECTORS, INDEPENDENT DIRECTORS, KMPs AND OTHER SENIOR
MANAGEMENT:
1. The remuneration / Compensation / commission etc. to Directors will be determined by
the Committee and recommended to the Board for approval.
2. The remuneration and commission to be paid to the Managing Director shall be in
accordance with the provisions of the Companies Act, 2013 and the rules framed there under
from time to time. The remuneration, commission, etc., as the case may be, shall be
subject to the prior / post approval of the shareholders of the Company and Central
Government, wherever required.
3. Remuneration of Executive Directors shall be recommended by the Nomination &
Remuneration Committee and approved by the Board of Directors and the Shareholders of the
Company.
4. In sync with the industry size and complexity of the Company’s operation,
performance benchmark of the industry, the Chairman & Managing Director of the Company
with prior / post approval of the Board of Directors of the Company is authorised to
decide the remuneration of KMP (other than Managing Director / Whole Time Director) and
Senior Management as per the HR policy of the Company.
5. Increments to the existing remuneration / compensation of its Managing Director,
Chief Financial Officer, Company Secretary and any other employees for indemnifying them
against any liability, the premium paid on such insurance shall not be treated as part of
the remuneration payable to such personnel.
Minimum Remuneration to Managing Director:
If in any Financial year, the Company has no profits or its profits are inadequate, the
Company shall pay remuneration to its Managing Director in accordance with the provisions
of Schedule V of the Companies Act, 2013 and if it is not able to comply with such
provisions, with the previous approval of the Central Government.
6. The remuneration / Sitting Fees / commission etc. to Non Executive Directors /
Independent Directors shall be in accordance with the provisions of the Act read with
Rules as amended from time to time be decided by the Committee / Board / Shareholders as
the case may be.
7. Remuneration of Management Staff is business-specific and approved by the Nomination
and Remuneration Committee based on the market trend and policy of HR in force.
Remuneration is reviewed and revised periodically, when such a revision is warranted by
the market. The quantum of revision is linked to market trends, the competitive context of
the business, as well as the track record of the individual management personnel.
PART III
EVALUATION OF MANAGING DIRECTORS, INDEPENDENT DIRECTORS, KMPs AND OTHER SENIOR
MANAGEMENT:
1. Evaluation Of Managing Directors / Whole Time Directors / KMPs:
An annual appraisal/ evaluation of Executive Directors namely Managing Director and
Whole time Director shall be carried out by all the other Directors of the Company. The
annual evaluation shall be carried out in the form of questionnaire.
2. Evaluation of Independent Directors:
An annual performance evaluation of an Independent Director shall be carried out by all
other Directors at the end of the financial year in the form of questionnaire.
Annexure - D to the Directors’ Report
Form No. AOC -2
Form for disclosure of particulars of contracts/arrangements entered into by the
company with related parties referred to in sub-section (1) of section 188 of the
Companies Act, 2013 including certain arms length transactions under third proviso thereto
1. Details of contracts or arrangements or transactions not at arm’s length
basis:
(a) Name(s) of the related party and nature of relationship: NIL (b) Nature of
contracts/arrangements/transactions: (c) Duration of the contracts /
arrangements/transactions:
(d) Salient terms of the contracts or arrangements or transactions including the value,
if any: (e) Justification for entering into such contracts or arrangements or transactions
(f) Date(s) of approval by the Board: (g) Amount paid as advances, if any:
(h) Date on which the special resolution was passed in general meeting as required
under first proviso to section 188:
2. Details of material contracts or arrangement or transactions at arm’s
length basis:
(a) Name(s) of the related party and nature of relationship: Anil Mines And Minerals
Ltd. (AMML)
(b) Nature of contracts/arrangements/transactions: AMML - For Supply of Raw material
viz. Maize
(c) Duration of the contracts / arrangements/transactions: AMML – Approval of
members have been obtained in Annual General Meeting of the Company held on September 30,
2015
(d) Salient terms of the contracts or arrangements or transactions including the value,
if any: AMML - Purchase of Raw Material viz. Maize at arms length price basis (For details
of transactions during the year refer Note 34 to the standalone financial statements)
(e) Date(s) of approval by the Board, if any: AMML – May 29, 2015
(f) Amount paid as advances, if any: AMML – Nil
|
For and on behalf of the Board of Directors of |
| Place: Ahmedabad |
Amol Sheth |
| Date: May 19, 2016 |
Chairman & Managing Director |
Annexure - F to the Directors’ Report
Particulars of conservation of energy, technology absorption and foreign exchange
earnings and outgo in terms of Section 134 (3) (m) of the Companies Act, 2013 read with
Rule 8 of the Companies (Accounts) Rules, 2014, forming part of the Directors’
Report.
A. CONSERVATION OF ENERGY:
(a) Energy Conservation measures taken:
Anil has continued its efforts to improve energy usage efficiencies. It is an ongoing
process at the plant and the company has constantly striving to improve the performance so
as to reduce energy consumption and as a part of conservation of energy several measures
have been taken during the year under review.
Impact of above measures taken:
The measures taken have resulted in lower energy consumption and increase in
efficiencies.
(b) Steps taken by the Company for utilizing alternate sources of energy: None
(c) The Capital investment on energy conservation equipment: NIL
B. TECHNOLOGY ABSORPTION
(a) Efforts made towards technology absorption:
To achieve technology advantage it has become need to business to make continuous
effort for adoption of new technologies. Through continuous interaction with our R & D
team, your Company has continued its best endeavor to absorb the best technology.
(b) The benefits of technology absorption:
As a measure of technology absorption your company has improved the quality of the
existing products and has also developed various new products during the year under
review:
(c) Details of Technology imported in last three years - Nil
(d) The expenditure incurred on Research & Development:
| Particulars |
Rs . in Lakhs |
|
(2015-16) |
| Capital |
- |
| Recurring |
117.28 |
| Total |
117.28 |
C. FOREIGN EXCHANGE EARNINGS AND OUTGO:
| Particulars |
Rs. in Lakhs |
|
(2015-16) |
| Foreign Exchange Earnings: |
|
| FOB Value of Exports |
4925.58 |
| Foreign Exchange Outgo: |
|
| CIF Value of Imports |
122.85 |
| Travelling Expenses |
24.18 |
| Commission on Export Sales |
9.58 |
|