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24.15 0.65%

Updated:09 Apr, 2021, 15:59 PM IST

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23.95 0.64%

Updated:09 Apr, 2021, 16:00 PM IST

Disclosure in board of directors report explanatory

The Members,
Your Directors have pleasure in presenting their 22ND Annual Report on the
business and operations of the Company and the accounts for the financial year ended
March 31st, 2015.

Details explained as per points ahead.

Description of state of companies affair

The Company has performed well on all fronts. The Total turnover and EBIDTA of the Company as well as the entire group has increased. During the P.Y. 2013–2014 there was one time income on account of sale of fixed assets of about Rs. 5 Crores. The present year total income of the Company does not include any one time income and therefore there is increase in the total operating profit of the Company. The increased profitability of the Company was because of investing in designing, consolidation of operations, Limited Verticals and Backward Integration. The Company has made serious efforts towards backward integration and thereby providing the Company an edge in the industry by providing better quality products and increased profitability of the Company. The Company also improved its productivity through automation and process improvement. The management of the Company has moved towards providing ODM solutions to its customers and thereby adding to the brand value of Dixon. The reverse logistics business of the Company has also witnessed sharp increase and therefore is an important component of total turnover of the Company. Company has also created several centers for refurbishment of Set Top Boxes for various clients across the country. During the year the Company has built its own R & D team for LED and achieved a big milestone by developing its own designed 32” LED TV. The Company has an Open Cell Assembly factory in Dehradun which is only 2nd in India of its kind which is another milestone for the Company. The company and the group as a whole had following achievements during the previous year: ? in all the group Companies the Profit and EBIDTA has increased; ? there is a positive cash flow in the Company because of better current assets management; ? bank Borrowings of the Company as well as the Group Borrowings have reduced; ? the Company has won all its IT cases except a contingent liability of Rs, 16 Lacs and ? there is multifold increase in STB refurbishment business from the previous F.Y. The Management expects that the Company shall continue its growth story in future also and will be able to achieve its expected business plans in coming years.

Details regarding energy conservation

a. Conservation of energy:(ii) the steps taken or impact on conservation of energy; Awareness program implemented in the Company for energy conservation. Further the Company continuously evaluates new technologies and techniques to make infrastructure more energy efficient. (iii) the steps taken by the company for utilising alternate sources of energy; New recourses of alternative energy are being identifying by Company (iv) the capital investment on energy conservation equipment’s; Company is investing in more advanced machines to increase productivity without substantially increasing power consumption.

Details regarding technology absorption

Technology absorption: (i) the efforts made towards technology absorption; The company is developing design for LED Bulbs, Smart Washing Machines and Smart LED TVs. (ii) the benefits derived like product improvement, cost reduction, product development or import substitution; • Your company is now technically more capable of developing any kind of Electronic items as per our customer requirement. • Has resulted in increased market share with reduced costs. This has helped the Company in negotiating orders with more OEMs. (iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)– S No. PARTICULARS (a) Technology imported. Nil (b) Year of import. Not Applicable (c) Has technology been fully absorbed? Not Applicable (d) If not fully absorbed, areas where this has not taken place. reasons there for and future plans of action. Not Applicable (iv) the expenditure incurred on Research and Development. (a) Capital NIL (b) Recurring Rs. 1,4 4,12,072/– (P.Y. Rs. 85, 84,120/–) (c) Total Rs. 1,4 4,12,072/– (P.Y. Rs. 85, 84,120/–) (d) Total R & D expenditures as a percentage of total turnover 0.13%.

Details regarding foreign exchange earnings and outgo

Foreign exchange earnings and Outgo: The Foreign Exchange earned in terms of actual inflows during the year and the Foreign Exchange outgo during the year in terms of actual outflows.Exchange outgo during the year in terms of actual outflows.Exchange outgo during the year in terms of actual outflows.The Foreign Exchange Earnings and out go during the year were as under:Foreign Exchange Outgo :Particulars Amount(in Rs. ) Raw Material & Components 69,22,04,940 P&M 1,10,94,892 Spares 5,58,701 Tools & Dies 74,18,791 Other Expenses 20,031 Service Charges 46,86,222 Travelling & Conveyance 11,59,325 TOTAL 71,71,42,902 Foreign Exchange Earnings: Export (FOB Basis) – Rs. 1,19,63,034/–

Disclosures in director’s responsibility statement

Directors’ Responsibility Statement The Directors’ Responsibility Statement referred to in clause (c) of sub–section (3) of Section 134 of the Companies Act, 2013, shall state that— (a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; (b) the directors had selected such accounting policies and applied them consistently and made judgments 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 and of the profit and loss of the company for that period; (c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; (d) the directors had prepared the annual accounts on a going concern basis; and (e) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

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