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200000000009-29-29-29-29-2000001111100000
Balaji AMINES LTD.
CORPORACORPORACORPORACORPORACORPORATE INFORMATE INFORMATE
INFORMATE INFORMATE INFORMATIONTIONTIONTIONTION
BOBOBOBOBOARD OF DIRECARD OF DIRECARD OF DIRECARD OF DIRECARD OF
DIRECTTTTTORSORSORSORSORS
SRI. M. R. KRISHNAIAHSRI. M. R. KRISHNAIAHSRI. M. R.
KRISHNAIAHSRI. M. R. KRISHNAIAHSRI. M. R. KRISHNAIAH Chairman
SRI. A. PRASRI. A. PRASRI. A. PRASRI. A. PRASRI. A. PRATHAP
REDDTHAP REDDTHAP REDDTHAP REDDTHAP REDDYYYYY Managing Director
SRI. N. RAJESHWSRI. N. RAJESHWSRI. N. RAJESHWSRI. N. RAJESHWSRI.
N. RAJESHWAR REDDAR REDDAR REDDAR REDDAR REDDYYYYY Whole Time
Director
SRI. D. RAM REDDSRI. D. RAM REDDSRI. D. RAM REDDSRI. D. RAM
REDDSRI. D. RAM REDDYYYYY Whole Time Director
SRI. G. HEMANTH REDDSRI. G. HEMANTH REDDSRI. G. HEMANTH REDDSRI.
G. HEMANTH REDDSRI. G. HEMANTH REDDYYYYY Whole Time Director
SRI. TSRI. TSRI. TSRI. TSRI. T. NA. NA. NA. NA. NAVEENA
CHANDRAVEENA CHANDRAVEENA CHANDRAVEENA CHANDRAVEENA CHANDRA
Independent Director
SRI. S. VISHNU RASRI. S. VISHNU RASRI. S. VISHNU RASRI. S.
VISHNU RASRI. S. VISHNU RAOOOOO Independent Director
SRI. S. VSRI. S. VSRI. S. VSRI. S. VSRI. S. V. PA. PA. PA. PA.
PATTTTTTTTTTABHIRAMANABHIRAMANABHIRAMANABHIRAMANABHIRAMAN
Independent Director
MR. HEMISH PURUSHOMR. HEMISH PURUSHOMR. HEMISH PURUSHOMR. HEMISH
PURUSHOMR. HEMISH PURUSHOTTTTTTTTTTAMAMAMAMAM Company Secretary
AUDIT COMMITTEEAUDIT COMMITTEEAUDIT COMMITTEEAUDIT
COMMITTEEAUDIT COMMITTEE
SRI. TSRI. TSRI. TSRI. TSRI. T. NA. NA. NA. NA. NAVEENA CHANDRA,
VEENA CHANDRA, VEENA CHANDRA, VEENA CHANDRA, VEENA CHANDRA,
ChairmanSRI. M. R. KRISHNAIAH, SRI. M. R. KRISHNAIAH, SRI. M. R.
KRISHNAIAH, SRI. M. R. KRISHNAIAH, SRI. M. R. KRISHNAIAH,
MemberSRI. S. VISHNU RASRI. S. VISHNU RASRI. S. VISHNU RASRI. S.
VISHNU RASRI. S. VISHNU RAOOOOO,,,,, MemberSRI. S.SRI. S.SRI.
S.SRI. S.SRI. S. V V V V V. PA. PA. PA. PA. PATTTTTTTTTTABHI
RAMAN,ABHI RAMAN,ABHI RAMAN,ABHI RAMAN,ABHI RAMAN, Member
SHARE HOLDERS'/INVESTSHARE HOLDERS'/INVESTSHARE
HOLDERS'/INVESTSHARE HOLDERS'/INVESTSHARE
HOLDERS'/INVESTORS'ORS'ORS'ORS'ORS'REDRESSAL COMMITTEEREDRESSAL
COMMITTEEREDRESSAL COMMITTEEREDRESSAL COMMITTEEREDRESSAL
COMMITTEE
SRI. TSRI. TSRI. TSRI. TSRI. T. NA. NA. NA. NA. NAVEENA CHANDRA,
VEENA CHANDRA, VEENA CHANDRA, VEENA CHANDRA, VEENA CHANDRA,
ChairmanSRI. S. VISHNU RASRI. S. VISHNU RASRI. S. VISHNU RASRI. S.
VISHNU RASRI. S. VISHNU RAOOOOO,,,,, MemberSRI. A. PRASRI. A.
PRASRI. A. PRASRI. A. PRASRI. A. PRATHAP REDDTHAP REDDTHAP REDDTHAP
REDDTHAP REDDYYYYY,,,,, Member
RESEARRESEARRESEARRESEARRESEARCH & DEVELOPMENT COMMITTEECH
& DEVELOPMENT COMMITTEECH & DEVELOPMENT COMMITTEECH &
DEVELOPMENT COMMITTEECH & DEVELOPMENT COMMITTEE
SRI. A. PRASRI. A. PRASRI. A. PRASRI. A. PRASRI. A. PRATHAP
REDDTHAP REDDTHAP REDDTHAP REDDTHAP REDDYYYYY, , , , , ChairmanSRI.
N. RAJESHWSRI. N. RAJESHWSRI. N. RAJESHWSRI. N. RAJESHWSRI. N.
RAJESHWAR REDDAR REDDAR REDDAR REDDAR REDDYYYYY,,,,, MemberSRI. G.
HEMANTH REDDSRI. G. HEMANTH REDDSRI. G. HEMANTH REDDSRI. G. HEMANTH
REDDSRI. G. HEMANTH REDDYYYYY,,,,, Member
REMUNERAREMUNERAREMUNERAREMUNERAREMUNERATION COMMITTEETION
COMMITTEETION COMMITTEETION COMMITTEETION COMMITTEESRI. M. R.
KRISHNAIAH,SRI. M. R. KRISHNAIAH,SRI. M. R. KRISHNAIAH,SRI. M. R.
KRISHNAIAH,SRI. M. R. KRISHNAIAH, ChairmanSRI. TSRI. TSRI. TSRI.
TSRI. T. NA. NA. NA. NA. NAVEENA CHANDRA, VEENA CHANDRA, VEENA
CHANDRA, VEENA CHANDRA, VEENA CHANDRA, MemberSRI. S. VISHNU RASRI.
S. VISHNU RASRI. S. VISHNU RASRI. S. VISHNU RASRI. S. VISHNU
RAOOOOO, , , , , Member
REGISTERED OFFICEREGISTERED OFFICEREGISTERED OFFICEREGISTERED
OFFICEREGISTERED OFFICEBALAJI BHAVAN165/A RAILWAY
LINESSOLAPURMAHARASHTRA-413001
ADMINISTRAADMINISTRAADMINISTRAADMINISTRAADMINISTRATIVE
OFFICETIVE OFFICETIVE OFFICETIVE OFFICETIVE OFFICEIII RD FLOORKPR
HOUSE, SARDAR PATEL ROADSECUNDERABAD-500 003, A.P.
AAAAAUDITUDITUDITUDITUDITORSORSORSORSORSM/S V. SRIDHAR &
COCHARTERED ACCOUNTANTSHYDERABAD
BBBBBANKERSANKERSANKERSANKERSANKERS
STATE BANK OF HYDERABADSTATE BANK OF INDIAING VYSYA BANKBANK OF
BARODA
SHARE TRANSFER ASHARE TRANSFER ASHARE TRANSFER ASHARE TRANSFER
ASHARE TRANSFER AGENTSGENTSGENTSGENTSGENTSSATHGURU
MANAGEMENTCONSULTANTS PVT. LTD.PLOT NO. 15, HINDI NAGARPUNJAGUTTA,
HYDERABAD-500034
FFFFFAAAAACCCCCTTTTTORYORYORYORYORY
UNITUNITUNITUNITUNIT-I-I-I-I-I
TAMMALWADI (VILLAGE)TULJAPUR (TQ)OSMANABAD
DISTMAHARASTRA-413623
UNITUNITUNITUNITUNIT-II-II-II-II-IIPLOT NO 4 & 5BESIDE APSEB
SUB STATION-IIIDA, BOLLARAM-502325MEDAK DIST. (A.P)
UNITUNITUNITUNITUNIT-III-III-III-III-IIIPLOT NO. E-7 &
E-8MIDC, CHINCHOLISOLAPUR - 413 255, MAHARASTRA
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ContentsContentsContentsContentsContents
1 Notice
_____________________________________________________________ 3
2 Director's Report
___________________________________________________ 15
3 Management Discussion and analysis
________________________________ 23
4 Report on Corporate Governance
____________________________________ 25
5 Auditors' Certificate on Corporate governance
_________________________ 35
6 Auditors Report on Financial statement
______________________________ 36
7 Balance Sheet
_____________________________________________________ 39
8 Profit and Loss account
____________________________________________ 40
9 Schedules forming part of the accounts
_______________________________41
10 Notes on accounts
_________________________________________________ 47
11 Cash flow statement
_______________________________________________ 52
12 Balance Sheet Extract and Company's General Profile
__________________ 53
13 Auditors' Report on Consolidated Financial Statement
_________________ 54
14 Consolidated Balance Sheet
_________________________________________ 55
15 Consolidated Profit and Loss account
________________________________ 56
16 Schedules forming part of Consolidated accounts
_____________________ 57
17 Notes on Consolidated accounts
____________________________________ 63
18 Consolidated Cash Flow Statement
__________________________________ 65
19 Statement Pursuant to Section 212 of The Companies Act, 1956
________ 66
20 Subsidiary Annual Report
___________________________________________ 67
21 Form for ECS Mandate
_____________________________________________ 85
22 Proxy form & Attendance Slip
_______________________________________ 87
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Balaji AMINES LTD.
NONONONONOTICETICETICETICETICE
NONONONONOTICE IS HEREBTICE IS HEREBTICE IS HEREBTICE IS
HEREBTICE IS HEREBY GIVEN THAY GIVEN THAY GIVEN THAY GIVEN THAY
GIVEN THAT THE TWENTY SECOND ANNUT THE TWENTY SECOND ANNUT THE
TWENTY SECOND ANNUT THE TWENTY SECOND ANNUT THE TWENTY SECOND
ANNUAL GENERAL MEETING OF THE MEMBERSAL GENERAL MEETING OF THE
MEMBERSAL GENERAL MEETING OF THE MEMBERSAL GENERAL MEETING OF THE
MEMBERSAL GENERAL MEETING OF THE MEMBERSOF BOF BOF BOF BOF BALAJI
AMINES LIMITEDALAJI AMINES LIMITEDALAJI AMINES LIMITEDALAJI AMINES
LIMITEDALAJI AMINES LIMITED will be held on Wednesday, 8th day of
September 2010 at 11:30 a.m. at the RegisteredOffice of the company
at 165/A, Balaji Bhawan, Railway Lines, Solapur to transact the
following business:-
ORDINARY BUSINESSORDINARY BUSINESSORDINARY BUSINESSORDINARY
BUSINESSORDINARY BUSINESS
1.1.1.1.1. To receive, consider and adopt the Audited Profit and
Loss Account for the financial year ended 31st March,2010 and
Balance Sheet as at that date together with the Directors Report
and Auditors Report.
2.2.2.2.2. To declare Dividend on equity shares.
3.3.3.3.3. To appoint a Director in place of Sri T. Naveena
Chandra, who retires by rotation, and being eligible offershimself
for re-appointment.
4.4.4.4.4. To appoint a Director in place of Sri D. Ram Reddy,
who retires by rotation, and being eligible offers himselffor
re-appointment.
5.5.5.5.5. To appoint Auditors to hold the office from the
conclusion of this Annual General Meeting till the conclusionof the
next Annual General Meeting and to authorize the Board of Directors
to fix their remuneration
SPECIAL BUSINESSSPECIAL BUSINESSSPECIAL BUSINESSSPECIAL
BUSINESSSPECIAL BUSINESS
6.6.6.6.6. Sub-division of Equity sharesSub-division of Equity
sharesSub-division of Equity sharesSub-division of Equity
sharesSub-division of Equity shares
To consider and if thought fit, to pass with or without
modification(s) the following resolution as a
"Special"Special"Special"Special"SpecialRRRRResolution":esolution":esolution":esolution":esolution":
"RESOLVED THAT pursuant to the provisions of Section 16, 94 and
other applicable provisions, if any, of theCompanies Act, 1956
("the Act") or any other law for the time being in force (including
any statutorymodification or re-enactment thereof) and the
provisions of the Articles of Association of the Company andsubject
to such approval(s), permission(s), sanction(s), confirmation(s),
as may be required under any law forthe time being in force, the
consent of the Company be and is hereby accorded for sub-division
of the existingequity shares of face value of Rs.10/- each of the
Company into 5 equity shares of Rs 2 /- each.
RESOLVED FURTHER THAT the existing Clause V of the Memorandum of
Association be and is herebysubstituted in the manner as set out
below:
'The Authorised Share Capital of the Company is Rs. 9,00,00,000
(Rupees Nine Crores) divided into 4,50,00,000(Four Crores and Fifty
Lakhs Only) Equity Shares of Rs. 2/- (Rupees Two) each. The share
capital is inaccordance with the provisions of the Companies Act,
1956'.
"RESOLVED FURTHER THAT pursuant to the provisions of Section 31
and all other applicable provisions, ifany, of the Companies Act,
1956 (" the Act") or any other law for the time being in force
(including anystatutory modification or re-enactment thereof) the
Article 3 of the Articles of Association of the Company beand is
hereby amended and substituted as:
'The Authorised Share Capital of the Company is Rs. 9,00,00,000
(Rupees Nine Crores) divided into 4,50,00,000(Four Crores and Fifty
Lakhs Only) Equity Shares of Rs. 2/- (Rupees Two) each'.
RESOLVED FURTHER THAT the existing share certificate(s) in
relation to the equity share capital held inphysical form be
cancelled and new share certificate(s) be issued in respect of the
equity shares held by themembers of the Company consequent upon the
sub-division of the equity shares as aforesaid and in case ofshares
held in the dematerialized form, the sub-divided equity shares be
credited to the respective demataccounts of the beneficiaries in
lieu of the existing shares held by them.
RESOLVED FURTHER THAT the Board of directors of the Company
("the Board", which expression shall alsoinclude a duly constituted
Committee thereof) be and is hereby authorised to do all such acts,
deeds andthings and to delegate all or any of the powers vested in
the Board to any Director(s) or Officer(s) of theCompany as may be
required to give effect to the above resolution."
7.7.7.7.7. RRRRReappointment of Mreappointment of Mreappointment
of Mreappointment of Mreappointment of Mr. A. Prathap R. A. Prathap
R. A. Prathap R. A. Prathap R. A. Prathap Reddy as Managing
Directoreddy as Managing Directoreddy as Managing Directoreddy as
Managing Directoreddy as Managing Director
To consider and if thought fit, to pass with or without
modification(s) the following resolution as a
"Special"Special"Special"Special"SpecialRRRRResolution":esolution":esolution":esolution":esolution":
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"RESOLVED THAT pursuant to the provisions of Sections 198, 269,
309 & 310 read with Schedule XIII andother applicable
provisions, if any, of the Companies Act, 1956, Sri. A Prathap
Reddy be and is herebyreappointed as Managing Director of the
company for a period of 3 years with effect from 01.04.2010 on
thefollowing remuneration as approved by the remuneration
committee.
IIIII Salary Salary Salary Salary Salary Rs. 2,00,000/- p.m.
IIIIIIIIII
PPPPPerquisites:erquisites:erquisites:erquisites:erquisites:
a) House Rent Allowance : 25% of the Salary
b) Leave Travel Concession: Reimbursement of Leave travel
expenses for self & family once in 4years.
c) Premium on Personal Accident Insurance and premium on
Mediclaim policy for self and familynot exceeding Rs.25,000/- per
annum. For the purpose of this category, 'Family' means
spouse,dependent children and dependent parents.
d) Use of Company Car with Driver.
e) Mobile Phone Facilities.
f) Telephone facilities at residence
g) Provident fund: Company's contribution to provident fund not
exceeding 20 % of basic salary.
h) Gratuity payable at a rate not exceeding half a month's
salary for each completed year of service.
i) The Managing Director will be eligible for an annual
increment of Rs. 10,000/- p.m. The firstannual increment shall
accrue to him on 1st April, 2011.
j) The Managing Director shall be entitled to be reimbursed in
respect of all expenses incurred byhim (including traveling,
entertainment, etc.) for and on behalf of the company during
thecourse of business.
k) Club Fees: Fees of Clubs subject to a maximum of one
club.
l) Commission on Profits: Upto 5% of the net profits of the year
as computed according to theCompanies Act, 1956.
III.III.III.III.III. OvOvOvOvOverall remuneration:erall
remuneration:erall remuneration:erall remuneration:erall
remuneration:
The overall remuneration (i.e. salary, perquisites and
commission) in any one financial year shall notexceed 5% of the net
profits or any such higher limits prescribed from time to time
under section 198,309 and other applicable provisions of the
Companies Act, 1956 read with schedule XIII to the saidAct, as may
for the time being, be in force and any amendments thereto. In case
of any doubts/discrepancy/clarification that may arise with respect
to payment of remuneration the same shall bedetermined and decided
by the Remuneration Committee of Directors. Further, within the
overallremuneration, the individual components may be changed as
desired by Mr. Prathap Reddy and acceptedby the Remuneration
Committee.
IVIVIVIVIV..... Minimum remuneration:Minimum
remuneration:Minimum remuneration:Minimum remuneration:Minimum
remuneration:
In the event of inadequacy or absence of profits in any
financial year, during the currency of the tenureof his office, he
shall be paid the above remuneration, as minimum remuneration
subject to the ceilingmentioned in Schedule XIII to the Companies
Act, 1956 from time to time.
8.8.8.8.8. RRRRReappointment of Mreappointment of Mreappointment
of Mreappointment of Mreappointment of Mr. N R. N R. N R. N R. N
Rajeshwajeshwajeshwajeshwajeshwar Rar Rar Rar Rar Reddy as
Executiveddy as Executiveddy as Executiveddy as Executiveddy as
Executive Directore Directore Directore Directore Director
To consider and if thought fit, to pass with or without
modification(s) the following resolution as a
"Special"Special"Special"Special"SpecialRRRRResolution":esolution":esolution":esolution":esolution":
"RESOLVED THAT pursuant to the provisions of Sections 198, 269,
309 & 310 read with Schedule XIII andother applicable
provisions, if any, of the Companies Act, 1956, Sri. N Rajeshwar
Reddy be and is herebyreappointed as Executive Director of the
company for a period of 3 years with effect from 01.04.2010 on
thefollowing remuneration as approved by the remuneration
committee.
IIIII SalarySalarySalarySalarySalary RsRsRsRsRs. . . . .
1,50,000/- p.m.
IIIIIIIIII
PPPPPerquisites:erquisites:erquisites:erquisites:erquisites:
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Balaji AMINES LTD.
a) House Rent Allowance: 25% of the Salary.
b) Leave Travel Concession: Reimbursement of Leave travel
expenses for self & family once in 4years.
c) Premium on Personal Accident Insurance and premium on
Mediclaim policy for self and familynot exceeding Rs.25,000/- per
annum. For the purpose of this category, 'Family' means
spouse,dependent children and dependent parents.
d) Use of Company Car with Driver.
e) Mobile Phone Facilities.
f) Telephone facilities at residence
g) Provident fund: Company's contribution to provident fund not
exceeding 20% of salary.
h) Gratuity payable at a rate not exceeding half a month's
salary for each completed year of service.
i) The Executive Director will be eligible for an annual
increment of Rs. 10,000/- p.m. The firstannual increment shall
accrue to him on 1st April, 2011.
j) The Executive Director shall be entitled to be reimbursed in
respect of all expenses incurred byhim (including traveling,
entertainment etc.,) for and on behalf of the company during
thecourse of business.
k) Club Fees: Fees of Clubs subject to a maximum of one
club.
l) Commission on Profits: Upto 2% of the net profits of the year
computed according to theCompanies Act, 1956.
III.III.III.III.III. OvOvOvOvOverall remuneration:erall
remuneration:erall remuneration:erall remuneration:erall
remuneration:
The overall remuneration (i.e. salary, perquisites and
commission) in any one financial year shall notexceed 2% of the net
profits or any such higher limits prescribed from time to time
under section 198,309 and other applicable provisions of the
Companies Act, 1956 read with schedule XIII to the saidAct, as may
for the time being, be in force and any amendments thereto. In case
of any doubts/discrepancy/clarification that may arise with respect
to payment of remuneration the same shall bedetermined and decided
by the Remuneration Committee of Directors. Further, within the
overallremuneration, the individual components may be changed as
desired by Mr. N Rajeshwar Reddy andaccepted by the Remuneration
Committee.
IVIVIVIVIV..... Minimum remuneration:Minimum
remuneration:Minimum remuneration:Minimum remuneration:Minimum
remuneration:
In the event of inadequacy or absence of profits in any
financial year, during the currency of the tenureof his office, he
shall be paid the above remuneration, as minimum remuneration
subject to the ceilingmentioned in Schedule XIII to the Companies
Act, 1956 from time to time.
9.9.9.9.9. RRRRReappointment of Mreappointment of Mreappointment
of Mreappointment of Mreappointment of Mr. D R. D R. D R. D R. D
Ram Ram Ram Ram Ram Reddy as Director - Commercialeddy as Director
- Commercialeddy as Director - Commercialeddy as Director -
Commercialeddy as Director - Commercial
To consider and if thought fit, to pass with or without
modification(s) the following resolution as a
"Special"Special"Special"Special"SpecialRRRRResolution":esolution":esolution":esolution":esolution":
"RESOLVED THAT pursuant to the provisions of Sections 198, 269,
309 & 310 read with Schedule XIII andother applicable
provisions, if any, of the Companies Act, 1956, Sri. D Ram Reddy be
and is hereby reappointedas Whole Time Director and designated as
Director - Commercial, of the company for a period of 3 years
witheffect from 01.04.2010 on the following remuneration as
approved by the remuneration committee.
IIIII Salary Salary Salary Salary Salary Rs. 1,50,000/- p.m.
IIIIIIIIII
PPPPPerquisites:erquisites:erquisites:erquisites:erquisites:
a) House Rent Allowance : 25% of the Salary
b) Leave Travel Concession: Reimbursement of Leave travel
expenses for self and family once in 4years
c) Premium on Personal Accident Insurance and Mediclaim premium
for self and family notexceeding Rs.25,000/- per annum. For the
purpose of this category 'Family' means spouse,dependent children
and dependent parents.
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d) Use of Company's Car with Driver.
e) Mobile Phone Facilities.
f) Telephone facility at residence
g) Provident fund: Company's contribution to provident fund not
exceeding 20% of salary.
h) Gratuity payable at a rate not exceeding half a month's
salary for each completed year of service.
i) The Commercial Director will be eligible for an annual
increment of Rs. 10,000/- p.m. The firstannual increment shall
accrue to him on 1st April, 2011.
j) The Commercial Director shall be entitled to be reimbursed in
respect of all expenses incurredby him (including travelling,
entertainment etc.,) for and on behalf of the company during
thecourse of business.
k) Club Fees: Fees of Clubs subject to a maximum of one
club.
l) Commission on Profits: Upto 2 % of the net profits of the
year computed according to theCompanies Act, 1956.
III.III.III.III.III. OvOvOvOvOverall remuneration:erall
remuneration:erall remuneration:erall remuneration:erall
remuneration:
The overall remuneration (i.e. salary, perquisites and
commission) in any one financial year shall notexceed 2% of the net
profits or any such higher limits prescribed from time to time
under section 198,309 and other applicable provisions of the
Companies Act, 1956 read with schedule XIII to the saidAct, as may
for the time being, be in force and any amendments thereto. In case
of any doubts/discrepancy/clarification that may arise with respect
to payment of remuneration the same shall bedetermined and decided
by the Remuneration Committee of Directors. Further, within the
overallremuneration, the individual components may be changed as
desired by Mr. D Ram Reddy and acceptedby the Remuneration
Committee.
IVIVIVIVIV..... Minimum remuneration:Minimum
remuneration:Minimum remuneration:Minimum remuneration:Minimum
remuneration:
In the event of inadequacy or absence of profits in any
financial year, during the currency of the tenureof his office, he
shall be paid the above remuneration, as minimum remuneration
subject to the ceilingmentioned in Schedule XIII to the Companies
Act, 1956 from time to time.
111110.0.0.0.0. RRRRReappointment Mreappointment Mreappointment
Mreappointment Mreappointment Mr. G. Hemanth R. G. Hemanth R. G.
Hemanth R. G. Hemanth R. G. Hemanth Reddy as Whole Time
Directoreddy as Whole Time Directoreddy as Whole Time Directoreddy
as Whole Time Directoreddy as Whole Time Director
To consider and if thought fit, to pass with or without
modification(s) the following resolution as a
"Special"Special"Special"Special"SpecialRRRRResolution":esolution":esolution":esolution":esolution":
"RESOLVED THAT pursuant to the provisions of Sections 198, 269,
309 & 310 read with Schedule XIII andother applicable
provisions, if any, of the Companies Act, 1956, Mr. G. Hemanth
Reddy be and is herebyreappointed as a Whole Time Director of the
company for a period of 3 years with effect from 01.04.2010 onthe
following remuneration as approved by the remuneration
committee.
IIIII Salary Salary Salary Salary Salary Rs. 1,50,000/- p.m.
IIIIIIIIII
PPPPPerquisites:erquisites:erquisites:erquisites:erquisites:
a) House Rent Allowance: 25% of the Salary.
b) Leave Travel Concession: Reimbursement of Leave travel
expenses for self and Family once in 4years.
c) Premium on personal Accident Insurance and Mediclaim premium
for self and family notexceeding Rs.25,000/- per annum. For the
purpose of this category 'Family' means spouse,dependent children
and dependent parents.
d) Use of Company's Car with Driver.
e) Mobile Phone Facilities.
f) Telephone facility at residence
g) Provident fund: Company's contribution to provident fund not
exceeding 20% of salary.
h) Gratuity payable at a rate not exceeding half a month's
salary for each completed year of service.
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i) The Whole Time Director will be eligible for annual increment
of Rs. 10,000/- p.m. The firstannual increment shall accrue to him
on 1st April, 2011.
j) The Whole Time Director shall be entitled to be reimbursed in
respect of all expenses incurredby him (including travelling,
entertainment etc.,) for and on behalf of the company during
thecourse of business.
k) Club Fees: Fees of Clubs subject to a maximum of one
club.
l) Commission on Profits: Upto 1% of the net profits of the year
computed according to theCompanies Act, 1956.
III.III.III.III.III. OvOvOvOvOverall remuneration:erall
remuneration:erall remuneration:erall remuneration:erall
remuneration:
The overall remuneration (i.e. salary, perquisites and
commission) in any one financial year shall notexceed 1% of the net
profits or any such higher limits prescribed from time to time
under section 198,309 and other applicable provisions of the
Companies Act, 1956 read with schedule XIII to the saidAct, as may
for the time being, be in force and any amendments thereto. In case
of any doubts/discrepancy/clarification that may arise with respect
to payment of remuneration the same shall bedetermined and decided
by the Remuneration Committee of Directors. Further, within the
overallremuneration, the individual components may be changed as
desired by Mr. G Hemanth Reddy andaccepted by the Remuneration
Committee.
IVIVIVIVIV..... Minimum remuneration:Minimum
remuneration:Minimum remuneration:Minimum remuneration:Minimum
remuneration:
In the event of inadequacy or absence of profits in any
financial year, during the currency of the tenureof his office, he
shall be paid the above remuneration, as minimum remuneration
subject to the ceilingmentioned in Schedule XIII to the Companies
Act, 1956 from time to time.
111111.1.1.1.1. Increase in borroIncrease in borroIncrease in
borroIncrease in borroIncrease in borrowing powing powing powing
powing powwwwwers pursuant to section 293 (1)(d) of the Companies
Aers pursuant to section 293 (1)(d) of the Companies Aers pursuant
to section 293 (1)(d) of the Companies Aers pursuant to section 293
(1)(d) of the Companies Aers pursuant to section 293 (1)(d) of the
Companies Act, 1956 upto Rsct, 1956 upto Rsct, 1956 upto Rsct, 1956
upto Rsct, 1956 upto Rs. 5. 5. 5. 5.
50000000000crorecrorecrorecrorecrore.....
To consider and if thought fit, to pass with or without
modification(s) the following resolution as an
"Ordinary"Ordinary"Ordinary"Ordinary"OrdinaryRRRRResolution":esolution":esolution":esolution":esolution":
"RESOL"RESOL"RESOL"RESOL"RESOLVED THAVED THAVED THAVED THAVED
THATTTTT in supersession of the resolution passed at the Sixteenth
Annual General Meeting of theShareholders of the Company held on
29th September, 2004, consent of the members of the Company be
andis hereby accorded to the Board of Directors of the Company
pursuant to Section 293(1)(d) and otherapplicable provisions of the
Companies Act, 1956, for borrowing from time to time, any sum or
sums ofmoney for the purposes of the Company upon such terms and
conditions and with or without security as theBoard of Directors
may in its discretion think fit, not withstanding, that the money
or monies to be borrowedby the Company (apart from the Temporary
loans obtained or to be obtained from time to time from
theCompany's Bankers in the ordinary course of business) together
with the money already borrowed, may exceedthe aggregate of the
Paid-up Share Capital of the Company and its free reserves that is
to say, reserves not setapart for any specific purpose(s), provided
however that the money or monies to be borrowed by the
Companytogether with the money already borrowed shall not, at any
time exceed Rs.500 Crores (Rupees Five HundredCrores only)".
By Order of The Board of DirectorsFor Balaji Amines Limited
Balaji Amines Limited Balaji Amines Limited Balaji Amines Limited
Balaji Amines Limited
Secunderabad Hemish PurushottamHemish PurushottamHemish
PurushottamHemish PurushottamHemish Purushottam29 July, 2010
Company Secretary
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200000000009-29-29-29-29-2000001111100000
NONONONONOTES:TES:TES:TES:TES:
a) A member entitled to attend and vote at the meeting is
entitled to appoint a proxy to attend and voteinstead of himself/
herself and a proxy need not be a member of the company. Proxies,
in order to bevalid and effective, must be delivered at the
registered office of the company not later than 48 hoursbefore the
commencement of the meeting.
b) The notice of the Annual General Meeting will be sent to
those members whose names appear on theregister of members as on
Friday, July 30, 2010.
c) The register of members and share transfer books of the
company will remain closed from 01.09.2010to 08.09.2010 (both days
inclusive). The dividend if declared will be paid to the Members,
whosenames appear in the register of members as on 08.09.2010
d) (i) Members holding shares in physical form are requested to
immediately notify change in theiraddress , if any, to the
Registrar and Transfer Agents of the company namely M/s
SathguruManagement Consultants Private Limited, Plot No 15, Hindi
Nagar, Punjagutta, Hyderabad-500034 quoting their Folio
Numbers.
(ii) In order to avoid fraudulent encashment of dividend
warrants, Members holding shares inphysical forms are requested to
send to the Registrar and Transfer Agents of the company, on
orbefore 31st August, 2010, a Bank Mandate (providing details of
name and address of banker,branch, PIN code and particulars of bank
accounts) or changes thereon, if not provided earlier,under the
signature of the sole / first holders along with the folio numbers.
This informationwill be printed on the dividend warrants. You may
avail of the Electronic Clearing Service (ECS)mandate facilities
provided by the company.
e) Members holding shares in dematerialized mode are requested
to intimate all changes pertaining totheir bank account details.
ECS mandates, nominations, power of attorney, change of address/
nameetc. to their depository participant only and not to the
company or its Registrar and Transfer Agent. Thesaid nominations
will be automatically reflected in the Company's records.
f) Shareholders who have not yet encashed their dividend warrant
for the year 2002-03 and subsequentyears may approach the company
for re-validation, issue of duplicate warrants etc. Dividend
remainingunclaimed for over Seven Years will be transfer to
Investor Education and Protection Fund as per Law.
g) Consequent upon the introduction of Section 109 A of the
Companies Act, 1956, shareholders areentitled to make nomination in
respect of shares held by them in physical form. Shareholders
desirousof making nominations are requested to send their request
in Form No. 2B in duplicate to the company.
h) Pursuant to the requirements on the Corporate Governance
under the listing agreement entered intowith stock exchanges, the
information about the Directors proposed to be appointed /re-
appointed isgiven in the annexure to the notice.
i) Members desirous of getting any information about the
accounts and / or operations of the companyare requested to write
to the company at least seven days before the date of the meeting
to enable thecompany to keep the information ready at the
meeting.
j) All the documents referred to in the Notice and explanatory
statement will be available to themembers at the Registered of the
company between 10.30 A.M to 12.30 P.M on all working days fromthe
date hereof upto the date of the Meeting.
k) Explanatory Statement pursuant to the provisions of section
173(2) of the Companies Act, 1956, isannexed herewith.
By Order of The Board of DirectorsFor Balaji Amines Limited
Balaji Amines Limited Balaji Amines Limited Balaji Amines Limited
Balaji Amines Limited
Secunderabad Hemish PurushottamHemish PurushottamHemish
PurushottamHemish PurushottamHemish Purushottam29 July, 2010
Company Secretary
-
www.balajiamines.com922nd Annual R22nd Annual R22nd Annual R22nd
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200000000009-29-29-29-29-2000001111100000
Balaji AMINES LTD.
EXPLANAEXPLANAEXPLANAEXPLANAEXPLANATTTTTORY STORY STORY STORY
STORY STAAAAATEMENTTEMENTTEMENTTEMENTTEMENT
Explanatory Statement under section 173 (2) of the Companies
AExplanatory Statement under section 173 (2) of the Companies
AExplanatory Statement under section 173 (2) of the Companies
AExplanatory Statement under section 173 (2) of the Companies
AExplanatory Statement under section 173 (2) of the Companies Act,
1956ct, 1956ct, 1956ct, 1956ct, 1956
Item No 06Item No 06Item No 06Item No 06Item No 06
The equity shares of the Company are listed and are actively
traded on the National Stock Exchange of India Limited(NSE) and
Bombay Stock Exchange Limited (BSE). The market price of the shares
of the Company has witnessedsignificant growth over the past few
years and are presently traded around Rs. 170/-. In order to
improve the liquidityof the Company's shares in the stock market
and to make it affordable to the small investors, the Board of
directorsof the Company at their meeting held on 29th July, 2010,
considered it desirable to sub-divide the nominal value ofthe
equity share capital of the Company from Rs. 10/- per share to Rs.
2/- per share as proposed in the resolution.
The aforesaid sub-division would require substitution of
existing Capital Clause V of the Memorandum of Associationand
Article 3 of the Articles of Association of the Company by Clause V
and Article 3 detailed in the resolution no. 6.
Accordingly, the Board recommends the resolutions as set out in
item no. 06 for approval from shareholders. Uponapproval of the
shareholders for sub-division of shares, in case the shares are
held in physical, the old share certificatesof face value of Rs.
10/- each will be cancelled on the record date and the new share
certificates will be sent to theshareholders. In case the shares
are in dematerialized form, the sub-divided shares will be directly
credited to theshareholders demat account on the record date in
lieu of their existing shares.
The Directors of the Company are deemed to be concerned or
interested in the resolution to the extent of shares heldby them in
the Company.
Item No. 0Item No. 0Item No. 0Item No. 0Item No. 07 to 17 to 17
to 17 to 17 to 100000
At the 17th Annual General Meeting of the Company held on 29th
September, 2005, the members had approved there-appointment and
terms of remuneration of Mr. A. Prathap Reddy as Managing Director,
Mr. N. Rajeshwar Reddyas Executive Director, Mr. D. Ram Reddy as
Director-Commercial & Mr. G. Hemanth Reddy as Whole time
directorfor a period of 5 years w.e.f. from 1st April, 2005. The
Board of Directors at its Meeting held on 29th April, 2010
hasre-appointed Mr. A. Prathap Reddy as Managing Director, Mr. N.
Rajeshwar Reddy as Executive Director, Mr. D. RamReddy as
Director-Commercial & Mr. G. Hemanth Reddy as Whole time
director for a period of three years w.e.f from1st April, 2010,
subject to the approval of the Members at the remuneration stated
in the resolution no. 7,8,9 &10.The said remuneration was
approved by the Remuneration Committee of the Company at their
meeting held on 29thApril, 2010.
Brief Profile of Directors being reappointed:
Mr. A Prathap Reddy is a Civil Engineer by qualification and
started his career in the year 1970 working for a companyengaged in
manufacturing of RCC spun pipes. In the year 1988 he incorporated
Balaji Amines Limited for themanufacture of Methyl and Ethyl
Amines. BAL's continuing success is a testimony to the
entrepreneurial skills of Mr.A. Prathap Reddy. His vision and
perseverance today has taken the Company as one of the leading
manufacturers andexporters of specialty chemicals, aliphatic amines
and derivatives in the entire Chemical Industry. Mr. A.
PrathapReddy received the 2010 IMM Eminent Organisation Award for
excellence at the 37th World Marketing Congresshosted by the
Institute of Marketing and Management, New Delhi.
Mr. N. Rajeshwar Reddy is a commerce graduate having more than
three decades of experience spread across differentIndustries. He
started his career as a Manager in Bharat Cement Pipe Industries in
1976 and in 1982 foundedBhagyanagar Potteries and managed the unit
till 1985. In 1985, he joined Balaji Cement Products (Pvt.) Ltd
asExecutive director and successfully implemented the project
before joining Balaji Amines Ltd as Director in 1988. Heis
responsible for the day to day operations at the plants in Solapur.
He has been instrumental in executing theprojects in time with
lowest cost of investments well within time schedules. He is also
responsible for perfecting theprocesses of various products to
achieve optimization of cost of utilities etc.,
Mr. D. Ram Reddy is a graduate having more than 29 years of
experience spread across various businesses. He joinedBharat Cement
Pipe Industries, Hyderabad as Manager in 1980. In 1985, he joined
Balaji Cement Products Pvt Ltdand successfully managed the Company
before joining Balaji Amines Ltd., as Director in 1988. He is
responsible forthe procurement, marketing and logistics activities
of the Company. He has played a key role in establishing
customerand supplier's relationship with leading buyers and
suppliers of specialty chemicals both within the country and
alsoabroad. He is instrumental in achieving first of its kind large
scale supply contract arrangement with world's leadingcompany in
speciality chemicals.
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10
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Mr. G. Hemanth Reddy is a post graduate in management with
Finance and Marketing as specialisation having morethan 20 years of
experience spread across various businesses. He has been
instrumental in setting up of BhagyanagarWoodplast Limited and
successfully managed the IPO of Bhagyanagar Woodplast. As an
Executive Director, he hasimplemented various projects globally
such as water supply projects in Africa, Solar project in Africa
and Ruralelectrification and Global Sourcing of material for
various water supply projects in Africa. He joined Balaji
AminesLimited as Whole Time Director responsible for finance of the
Company.
The appointment and remuneration payable to Mr. A. Prathap Reddy
as Managing Director, Mr. N. Rajeshwar Reddyas Executive Director,
Mr. D. Ram Reddy as Director-commercial and Mr. G. Hemanth Reddy as
Whole Time Directorrequires the approval of the shareholders in
general meeting by way of Special Resolution in terms of provisions
ofParagraph 1(B) (iii) of Section II of Part II and Part III of
Schedule XIII of the Companies Act, 1956.
Keeping in view the experience and expertise of these persons,
the Board commends the Resolutions at Item nos. 07to 10 for
approval by the Members.
A statement containing the information required under proviso
(iv) to Section-II(B) of Schedule XIII to the CompaniesAct, 1956 is
annexed for the information of the members.
Mr. A. Prathap Reddy, Mr. N. Rajeshwar Reddy, Mr. D Ram Reddy
and Mr. G. Hemanth Reddy, Directors of theCompany are concerned or
interested in this resolution. None of the other directors are
concerned or interested inthis resolution, except to the extent of
equity shares held by them.
Items No. 1Items No. 1Items No. 1Items No. 1Items No. 111111
Members of the Company at the 16th Annual General Meeting held
on 29th September, 2004 have accorded theirconsent under Section
293(1)(d) of the Companies Act, 1956 to the Board of Directors to
borrow monies apart fromthe temporary loans in aggregate upto Rs.
200 Crores.
As the Company is expanding its operations the company would
require to borrow funds from time to time by wayof loans or
otherwise beyond the existing limit of Rs. 200.00 Crores, which
will be insufficient. Your directors feelthat an amount Rs. 500.00
Crores will be required to be taken from Banks / Financial
Institutions, which exceedsthe aggregate of the paid up capital of
the company and its free reserves.
Pursuant to the provisions of Section 293 (1) (d) of the
Companies Act, 1956, the company cannot borrow anamount in excess
of the aggregate of the paid up share capital of the company and
its free reserves, i.e., reserves notset apart for any specific
purpose without the consent of the members in their general
meeting.
Hence the resolution is commended for your approval
The Directors are interested, in the above resolution, to the
extent of share capital held by them.
By Order of The Board of DirectorsFor Balaji Amines Limited
Balaji Amines Limited Balaji Amines Limited Balaji Amines Limited
Balaji Amines Limited
Secunderabad Hemish PurushottamHemish PurushottamHemish
PurushottamHemish PurushottamHemish Purushottam29 July, 2010
Company Secretary
-
www.balajiamines.com1122nd Annual R22nd Annual R22nd Annual
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200000000009-29-29-29-29-2000001111100000
Balaji AMINES LTD.
STSTSTSTSTAAAAATEMENT PURSUTEMENT PURSUTEMENT PURSUTEMENT
PURSUTEMENT PURSUANT TANT TANT TANT TANT TO CLAO CLAO CLAO CLAO
CLAUSE (1) (B) (IV) OF SECUSE (1) (B) (IV) OF SECUSE (1) (B) (IV)
OF SECUSE (1) (B) (IV) OF SECUSE (1) (B) (IV) OF SECTION II OF
PTION II OF PTION II OF PTION II OF PTION II OF PART II OFART II
OFART II OFART II OFART II OFSCHEDULE XIII, OF THE COMPSCHEDULE
XIII, OF THE COMPSCHEDULE XIII, OF THE COMPSCHEDULE XIII, OF THE
COMPSCHEDULE XIII, OF THE COMPANIES AANIES AANIES AANIES AANIES
ACCCCCTTTTT, 1956:, 1956:, 1956:, 1956:, 1956:
IIIII GENERAL INFORMAGENERAL INFORMAGENERAL INFORMAGENERAL
INFORMAGENERAL INFORMATIONTIONTIONTIONTION
(1)(1)(1)(1)(1) Nature of Industry:Nature of Industry:Nature of
Industry:Nature of Industry:Nature of Industry:
The Company operates in the Speciality Chemicals, aliphatic
amines and their derivatives which aremainly used in API's,
Agrochemicals, Paint industry, Refineries and host of other
industries.
(2)(2)(2)(2)(2) Date of commencement of commercial
production:Date of commencement of commercial production:Date of
commencement of commercial production:Date of commencement of
commercial production:Date of commencement of commercial
production:
1st March, 1991
(3)(3)(3)(3)(3) In case of new companiesIn case of new
companiesIn case of new companiesIn case of new companiesIn case of
new companies, expected date of commencement of activities as per
project appro, expected date of commencement of activities as per
project appro, expected date of commencement of activities as per
project appro, expected date of commencement of activities as per
project appro, expected date of commencement of activities as per
project approvvvvvedededededbbbbby financial institutions appearing
in the prospectus:y financial institutions appearing in the
prospectus:y financial institutions appearing in the prospectus:y
financial institutions appearing in the prospectus:y financial
institutions appearing in the prospectus:
Not applicable.
(4)(4)(4)(4)(4) Financial performance during last three
yFinancial performance during last three yFinancial performance
during last three yFinancial performance during last three
yFinancial performance during last three years:ears:ears:ears:ears:
(Rs. In Crore)
PPPPParticularsarticularsarticularsarticularsarticulars
2222200000000007-087-087-087-087-08
22222008-0008-0008-0008-0008-099999
2222200000000009-19-19-19-19-100000
GROSS INCOME 239.68 273.58 277.14
PBDIT 30.90 39.91 47.74
PBT 18.66 24.90 31.56
PAT 13.26 15.32 20.65
CASH PROFIT 17.66 20.14 27.49
BOOK VALUE (Rs.) 110.35 141.48 179.08
EPS (Rs.) 20.46* 23.65 31.87
* After Bonus issue share capital doubled to Rs. 6.48 crore from
Rs. 3.24 crore
(5)(5)(5)(5)(5) Export performance and net foreign exchange
earnings:Export performance and net foreign exchange
earnings:Export performance and net foreign exchange
earnings:Export performance and net foreign exchange
earnings:Export performance and net foreign exchange earnings:(Rs.
In Thousands)
Export of the yExport of the yExport of the yExport of the
yExport of the year ended 3ear ended 3ear ended 3ear ended 3ear
ended 31st March, 21st March, 21st March, 21st March, 21st March,
2000001111100000 6,12,6646,12,6646,12,6646,12,6646,12,664
Income/Expenditure in Foreign Currency for the year ended
31.03.2010 is as follows:
Income:Income:Income:Income:Income:
Sales/ Income from OperationsSales/ Income from OperationsSales/
Income from OperationsSales/ Income from OperationsSales/ Income
from Operations 6,12,6646,12,6646,12,6646,12,6646,12,664
ExpenditureExpenditureExpenditureExpenditureExpenditure
RRRRRaaaaaw Materialsw Materialsw Materialsw Materialsw
Materials 5,74,2805,74,2805,74,2805,74,2805,74,280
Capital GoodsCapital GoodsCapital GoodsCapital GoodsCapital
Goods 6,2376,2376,2376,2376,237
OvOvOvOvOverseas Terseas Terseas Terseas Terseas
Trararararavvvvvelelelelel 2,3972,3972,3972,3972,397
Consultancy ChargesConsultancy ChargesConsultancy
ChargesConsultancy ChargesConsultancy Charges
2,1742,1742,1742,1742,174
OthersOthersOthersOthersOthers 3,3693,3693,3693,3693,369
TTTTTotalotalotalotalotal
5,88,4575,88,4575,88,4575,88,4575,88,457
(6)(6)(6)(6)(6) FFFFForeign invoreign invoreign invoreign
invoreign investments or collaborationsestments or
collaborationsestments or collaborationsestments or
collaborationsestments or collaborations, if an, if an, if an, if
an, if any: y: y: y: y: The Company has no Foreign Direct
Investment orCollaborations in the Company so far.
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II.II.II.II.II. INFORMAINFORMAINFORMAINFORMAINFORMATION ABOUT
THE APPOINTEES:TION ABOUT THE APPOINTEES:TION ABOUT THE
APPOINTEES:TION ABOUT THE APPOINTEES:TION ABOUT THE APPOINTEES:
Sl.Sl.Sl.Sl.Sl.
InformationInformationInformationInformationInformation A. Prathap
RA. Prathap RA. Prathap RA. Prathap RA. Prathap
Reddyeddyeddyeddyeddy N. RN. RN. RN. RN.
Rajeshwajeshwajeshwajeshwajeshwararararar D. RD. RD. RD. RD. Ram
Ram Ram Ram Ram Reddyeddyeddyeddyeddy G. HemanthG. HemanthG.
HemanthG. HemanthG. HemanthNoNoNoNoNo Of TheOf TheOf TheOf TheOf
The RRRRReddyeddyeddyeddyeddy RRRRReddyeddyeddyeddyeddy
AppointeeAppointeeAppointeeAppointeeAppointee
1 Background of He is a Civil He holds a He holds a Sri G.
Hemanththe Appointee Engineer by Bachelor's degree Bachelor's
degree Reddy is post
Qualification. in Commerce in Commerce. He graduate inHe has
founded He is one of the is one of the management. He isBalaji
Amines Ltd. founder promoter founder promoter one of the founderand
has been and has been and has been promoter and isinstrumental in
handling the day handling the responsible ofdeveloping the to day
operation of procurements, finance of thecompany from a the plants
and marketing and Companysingle product expansion projects logistic
activities ofcompany with a of Company the Companyturnover of
onecrore during thefirst year to morethan 25 productsand a turnover
ofRs. 277 crores forthe year 2010
2 Past Remunerati Rs. 1,73,33,623/- Rs. 69,33,449/- Rs.
69,33,449/- Rs. 34,66,725/-on (Salary, Perks& Commission)Rs /
PA.(Year 2009-10)
3 Recognition and 2010 IMM EminentAwards Organisation
Award for excelle-nce at the 37thWorld MarketingCongress. — —
—
4 Job Profile and Managing Director Executive Commercial Whole
Timesuitability He will exercise Director. Director. He is
Director. He is
the management He is responsible responsible for responsible
forcontrol over the for the day to the procurement, finance,whole
of the day operations marketing and operations andaffairs of the at
the plants logistics activities administrationCompany. Providing in
Solapur of the Company of Unit-II of theleadership and
Company.strategic guidanceto the Company
5 Remuneration As detailed in As detailed in As detailed in As
detailed inProposed Resolution no. 07 Resolution no. 08 Resolution
no. 09 Resolution no. 10
6 Comparative Considering the Considering the Considering the
Considering theremuneration general industry general industry
general industry general industryprofile with and the specific and
the specific and the specific and the specificrespect to company
profile, company profile, company profile, company
profile,industry, size of the proposed the proposed the proposed
the proposedthe Company, remuneration to remuneration to
remuneration to remuneration toProfile of the the appointee is the
appointee is the appointee is the appointee isposition and in line
with the in line with the in line with the in line with theperson
(in case remuneration remuneration remuneration remunerationof
expatriates the comparable to comparable to comparable to
comparable torelevant details the size of the the size of the the
size of the the size of thewould be w.r.t. Company and Company and
Company and Company andthe country of also that of the also that of
the also that of the also that of thehis origin) industry and of
industry and of industry and of industry and of
the position and the position and the position and the
positionperson. person. person. and person.
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Balaji AMINES LTD.
7 Pecuniary 1.1.1.1.1. Has no 1. 1. 1. 1. 1. Has no 1. 1. 1. 1.
1. Has no 1.1.1.1.1. Has no pecuniaryrelationship pecuniary
pecuniary pecuniary relationship directlydirectly or relationship
relationship relationship or indirectly withindirectly with
directly or directly or directly or the Company exceptthe Company,
or indirectly with indirectly with indirectly with to the extent of
hisrelationship with the Company the Company the Company
remuneration andthe managerial except to the except to the except
to the shareholding inpersonnel, if any extent of his extent of his
extent of his the Company.
remuneration remuneration and remuneration andand shareholding
shareholding in shareholding inin the Company. the Company. the
Company.2. He is father in 2. He is brother in 2. He is not related
2. He is son in lawlaw of law of to any managerial to A. Prathap
ReddyG. Hemanth Reddy G. Hemanth Reddy personnel. and brother in
Law
to N. RajeshwarReddy
III.III.III.III.III. OOOOOTHER INFORMATHER INFORMATHER
INFORMATHER INFORMATHER INFORMATION:TION:TION:TION:TION:
(1)(1)(1)(1)(1) RRRRReason of Loss or inadequate profits:eason
of Loss or inadequate profits:eason of Loss or inadequate
profits:eason of Loss or inadequate profits:eason of Loss or
inadequate profits:
The Company has achieved profits from its operations during the
year and it is expected to earn profitsin the future years also.
The Company is seeking the permission of the shareholders for
paying minimumremuneration during their tenure of appointment, in
accordance with the provisions as laid down in PartII in Section II
to Schedule XIII of the Companies Act, 1956, in the event the
Company has no profit orinadequate profits in any such financial
year
(2)(2)(2)(2)(2) Steps taken or proposed to be taken for
improSteps taken or proposed to be taken for improSteps taken or
proposed to be taken for improSteps taken or proposed to be taken
for improSteps taken or proposed to be taken for
improvvvvvement:ement:ement:ement:ement:
The management is continuously striving to improve the
performance of the Company and has takensteps to expand and
diversify the operations, which is evident from the performance of
the company.
(3)(3)(3)(3)(3) Expected increase in productivity and profits in
measurable terms:Expected increase in productivity and profits in
measurable terms:Expected increase in productivity and profits in
measurable terms:Expected increase in productivity and profits in
measurable terms:Expected increase in productivity and profits in
measurable terms:
The investments in R&D activities and continuous up
gradation of the plants along with expansion anddiversification,
the company envisages to grow at compounded average growth rate of
about 20-25%both in topline and bottom line.
IVIVIVIVIV.....
DISCLOSURES:DISCLOSURES:DISCLOSURES:DISCLOSURES:DISCLOSURES:
1 The remuneration packages of the managerial persons are being
informed regularly to the Shareholdersin the Corporate Governance
section forming part of the Annual Report.
2. The remuneration package for the financial year 2009-10 of
all the directors has been disclosed under theCorporate Governance
forming part of the Annual Report
3. The proposed remuneration package is as detailed in the
resolution.
Sl.Sl.Sl.Sl.Sl.
InformationInformationInformationInformationInformation A. Prathap
RA. Prathap RA. Prathap RA. Prathap RA. Prathap
Reddyeddyeddyeddyeddy N. RN. RN. RN. RN.
Rajeshwajeshwajeshwajeshwajeshwararararar D. RD. RD. RD. RD. Ram
Ram Ram Ram Ram Reddyeddyeddyeddyeddy G. HemanthG. HemanthG.
HemanthG. HemanthG. HemanthNoNoNoNoNo Of TheOf TheOf TheOf TheOf
The RRRRReddyeddyeddyeddyeddy RRRRReddyeddyeddyeddyeddy
AppointeeAppointeeAppointeeAppointeeAppointee
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ADDITIONAL INFORMAADDITIONAL INFORMAADDITIONAL INFORMAADDITIONAL
INFORMAADDITIONAL INFORMATIONTIONTIONTIONTION
(pursuant to Clause 49 IV (G) of the Listing Agreement-(pursuant
to Clause 49 IV (G) of the Listing Agreement-(pursuant to Clause 49
IV (G) of the Listing Agreement-(pursuant to Clause 49 IV (G) of
the Listing Agreement-(pursuant to Clause 49 IV (G) of the Listing
Agreement-Information of directors proposed to be appointed/
re-appointed)Information of directors proposed to be appointed/
re-appointed)Information of directors proposed to be appointed/
re-appointed)Information of directors proposed to be appointed/
re-appointed)Information of directors proposed to be appointed/
re-appointed)
Name ofName ofName ofName ofName of TTTTT. Na. Na. Na. Na.
Navvvvveenaeenaeenaeenaeena D. RD. RD. RD. RD. Ramamamamam A.
PrathapA. PrathapA. PrathapA. PrathapA. Prathap G. HemanthG.
HemanthG. HemanthG. HemanthG. Hemanth N. RN. RN. RN. RN.
Rajeshwajeshwajeshwajeshwajeshwarararararthe Directorthe
Directorthe Directorthe Directorthe Director
ChandraChandraChandraChandraChandra RRRRReddyeddyeddyeddyeddy
RRRRReddyeddyeddyeddyeddy RRRRReddyeddyeddyeddyeddy
RRRRReddyeddyeddyeddyeddy
Date of Birth 28th November, 20th October, 16th 19th June,
02nd1960 1961 September, 1966 February,
1951 1955
Date of 24th June, 15th January, 06th 28th 16thappointment 1996
1989 November, July, 2005 November,on the Board 1988 1988
Qualification, He holds a He holds a He is a Civil Sri G. He
holds aExperience & Bachelor's Bacherlor's Engineer by Hemanth
Bachelor'sExpertise degree in degree in Qualification. Reddy is
post degree in
Commerce and Commerce He has over graduate in Commerce &is a
Fellow and has over 40 year of management has over 30Member of the
30 years of experience and has over years ofInstitute of experience
across variety 20 years of experienceChartered across variety of
Industries. experience in across varietyAccountant of of
industries. various in of industries.India. He has dustries. Heover
25 years takes care ofof rich and finance, ERPvaried andexperience
in administration.the fields of He hasFinance, immenseTaxation,
experience inProjects, operations,Capital finance andMarkets.
administration
Directorship in Saaketa Nil Balaji Balaji Nilother public
Consultants Greentech Greentechcompanies Limited Products
Products(excluding Bhagyanagar Limited. Limited.foreign Wood
Plastcompanies and Limited. Bhagyanagar BhagyanagarSection 25
Chemicals ChemicalsCompanies) Limited Limited
Shareholding 10 93,377 11,07,610 1,41,004 1,18,830
By Order of The Board of DirectorsFor Balaji Amines Limited
Balaji Amines Limited Balaji Amines Limited Balaji Amines Limited
Balaji Amines Limited
Secunderabad Hemish PurushottamHemish PurushottamHemish
PurushottamHemish PurushottamHemish Purushottam29 July, 2010
Company Secretary
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Balaji AMINES LTD.
DIRECDIRECDIRECDIRECDIRECTTTTTORS REPORTORS REPORTORS REPORTORS
REPORTORS REPORT
Dear Shareholders
Your Directors have pleasure in presenting the 22nd Annual
Report of the company with Audited Statement ofAccounts for the
year ended 31st March, 2010.
FINANCIAL RESULFINANCIAL RESULFINANCIAL RESULFINANCIAL
RESULFINANCIAL RESULTSTSTSTSTS
The financial highlights for the current year in comparison to
the previous year are as under
(Rupees in Lakhs)
S.No.S.No.S.No.S.No.S.No.
PPPPPARTICULARSARTICULARSARTICULARSARTICULARSARTICULARS Current
YCurrent YCurrent YCurrent YCurrent Yearearearearear Previous
Year2222200000000009-29-29-29-29-2000001111100000 2008-2009
1. Gross Sales 27727727727727713.9813.9813.9813.9813.98
27358.52
2. Less: Excise Duty 1524.401524.401524.401524.401524.40
2189.84
3. Sales 2626262626189.58189.58189.58189.58189.58 25168.68
4. Other Income 145.63145.63145.63145.63145.63 287.07
5. Expenditure 23487.1223487.1223487.1223487.1223487.12
23011.75
6. Profit before interest, depreciation and tax
4774.244774.244774.244774.244774.24 3990.55
7. Depreciation 683.60683.60683.60683.60683.60 481.56
8. Profit before interest & tax
474747474706.4406.4406.4406.4406.44 3508.98
9. Interest and Finance Charges 97979797970.590.590.590.590.59
1018.60
10. Prior Period items 36.4036.4036.4036.4036.40 0.00
11. Profit before tax 33333156.45156.45156.45156.45156.45
2490.38
12. Provision for Income tax (including FBT)
53535353530.000.000.000.000.00 325.00
13. Deferred tax 56565656561.51.51.51.51.500000 632.72
14. Profit after tax 22222064.95064.95064.95064.95064.95
1532.66
15. Dividend for the year (including corporate dividend tax)
189.54189.54189.54189.54189.54 147.95
16. Transfer to General Reserve 22222111110.000.000.000.000.00
120.00
17. Balance carried forward to Balance Sheet
1665.41665.41665.41665.41665.411111 1264.70
18. Reserves(Excluding Revaluation reserves)
8278278278278271.961.961.961.961.96 6396.55
19. EPS (Rs) 333331.871.871.871.871.87 23.65
OPERAOPERAOPERAOPERAOPERATING RESULTING RESULTING RESULTING
RESULTING RESULTS AND BUSINESSTS AND BUSINESSTS AND BUSINESSTS AND
BUSINESSTS AND BUSINESS
During the year, your company has achieved a Gross turnover of
Rs. 277.14 Crore as compared to the turnover ofRs. 273.58 Crore
achieved during the previous year. This growth was achieved despite
Global slowdown and consequentpressure on prices and volumes.
However, even with a marginal increase in turnover, your company
registered animpressive year on year growth of 34.70% in Profit
After Tax from Rs.15.33 Crore in the previous year to Rs.
20.65Crore in the Current year.
Your Company's consistent performance can be primarily
attributed to increase in plant efficiencies, continuouspower
supply through captive co-generation power plant and long term
purchase contracts entered with suppliers ofraw materials which has
optimised the consumption co-efficients of materials compared to
previous year and stringentcost control measures implemented by the
management across the plants.
Exports: Though the Gross turnover increased marginally, the net
exports have increased by 14.56% over the previousyear figures of
Rs. 58.20 Crore to Rs. 67.17 Crore.
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DIVIDENDDIVIDENDDIVIDENDDIVIDENDDIVIDEND
Based on company's performance and track record of declaring
dividends to shareholders, the Directors are pleasedto recommend
for approval of the members a dividend of Rs 2.50/- per share (25%
on paid up value of Rs 10/- pershare). The total cash outflow on
account of dividends payable including dividend distribution tax
payable isRs. 189.54 lacs.
TRANSFER TTRANSFER TTRANSFER TTRANSFER TTRANSFER TO RESERVESO
RESERVESO RESERVESO RESERVESO RESERVES
The Company proposes to transfer Rs. 210 lacs to the General
Reserve out of the amount available for appropriationsand an amount
of Rs. 1665.41 lacs is proposed to be retained in the Profit and
Loss account.
RESEARRESEARRESEARRESEARRESEARCH & DEVELOPMENTCH &
DEVELOPMENTCH & DEVELOPMENTCH & DEVELOPMENTCH &
DEVELOPMENT
The R&D initiatives have yielded results during the year,
and have been one of the major contributories in makingthe company
stand by Global majors in Specialty Chemicals, among International
Specialty Chemicals business.
Your Company has been setting aside sizable money for continuous
Research and Development for the followingactivities.
� Identification of New products and latest technologies for the
same.
� Continuous development of process parameters to optimize
energy, utilities and raw materials consumption.
� Backward and forward integration of products.
During the year the company has invested in R& D activities
as under:
R & D Capital Expenditure - Rs. 622.07 lacs
R & D Revenue Expenditure - Rs. 277.70 lacs
EXPEXPEXPEXPEXPANSION / DIVERSIFICAANSION / DIVERSIFICAANSION /
DIVERSIFICAANSION / DIVERSIFICAANSION /
DIVERSIFICATIONTIONTIONTIONTION
The company with a view to expand and diversify into new area of
Business, envisaged construction, developmentand leasing out
properties for hotel and other related business has amended its
Other Objects Clause in theMemorandum of Association to include
these objects and passed a special resolution for the commencement
of thesebusinesses. The company plans to utilize the available
vacant lands in upcoming areas of Solapur for these purposes.The
company has appointed Mahajan & Aibara, experienced consultants
in Hotel and Restaurant Industry for givingfeasibility report for
the usage of existing land, who have submitted a report after
thorough study. Accordingly, yourCompany has proposed to setup a
Hotel with 100 rooms and banquet facilities with an investment of
Rs. 40 Crore.The project will be completed over a period of 2 years
from now.
During the year, the following plants have come into
operation:
� 2.5 Mw Co- Generation Power Plant at Tamalwadi, Solapur has
been commissioned in July, 2009
� PVP Plant at Chincholi, Solapur has started producing various
grades and the mandatory approvals are in finalstages.
FIXED DEPOSITSFIXED DEPOSITSFIXED DEPOSITSFIXED DEPOSITSFIXED
DEPOSITS
The company has neither accepted nor renewed any deposits
falling within the provisions of Section 58A of theCompanies Act,
1956 read with the Companies (Acceptance of Deposits) Rules, 1975
from the public during thefinancial year.
DIRECDIRECDIRECDIRECDIRECTTTTTORSORSORSORSORS
In terms of Article 134 of the Articles of Association of the
company Sri T. Naveena Chandra and Sri D. Ram Reddyretire by
rotation and being eligible, offer themselves for reappointment at
the ensuing Annual General Meeting.
The Board of Directors at its Meeting held on 29th April, 2010
has re-appointed Mr. A. Prathap Reddy as ManagingDirector, Mr. N.
Rajeshwar Reddy as Executive Director, Mr. D. Ram Reddy as
Director-Commercial & Mr. G. Hemanth
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Balaji AMINES LTD.
Reddy as Whole time director for a period of three years w.e.f
from 1st April, 2010, subject to the approval of theMembers. The
said resolution forms part of the notice of the Annual General
Meeting
Their profile describing the expertise in specific functional
area and other directorships held by them as stipulatedin clause 49
of the listing agreement is provided in the notice of AGM.
CONSOLIDCONSOLIDCONSOLIDCONSOLIDCONSOLIDAAAAATED FINANCIAL STTED
FINANCIAL STTED FINANCIAL STTED FINANCIAL STTED FINANCIAL
STAAAAATEMENTSTEMENTSTEMENTSTEMENTSTEMENTS
The Consolidated Financial Statement of your company with that
of its wholly owned subsidiary BhagyanagarChemicals limited is
provided in the Annual Report.
AAAAAUDITUDITUDITUDITUDITORSORSORSORSORS
M/s V.Sridhar & Co, Chartered Accountants, Hyderabad,
Statutory Auditors of the company hold office until theconclusion
of the ensuing Annual General Meeting and are eligible for
re-appointment. The company has receivedletter from the Auditors to
the effect that, their appointment, if made , would be within the
prescribed limits undersection 224 (1B) of the Companies Act, 1956
and that they are not disqualified for such re appointment within
themeaning of section 226 of the said Act.
PPPPPARTICULARS OF EMPLOARTICULARS OF EMPLOARTICULARS OF
EMPLOARTICULARS OF EMPLOARTICULARS OF EMPLOYEESYEESYEESYEESYEES
There are no employees whose particulars are required to be
furnished under Section 217(2A) of the Companies Act,1956 read with
Companies (Particulars of employees) Rules, 1975, and as amended
from time to time as remunerationof none of the employees is in
excess of Rs.2,00,000/- per month, if employed for the part of year
orRs.24,00,000/- per annum during the financial year 2009-10. The
remuneration details of the Whole Time Director'shave been
disclosed in the Corporate Governance Report which forms part of
Directors Report.
MANAMANAMANAMANAMANAGEMENT DISCUSSION AND ANALGEMENT DISCUSSION
AND ANALGEMENT DISCUSSION AND ANALGEMENT DISCUSSION AND ANALGEMENT
DISCUSSION AND ANALYSIS REPORTYSIS REPORTYSIS REPORTYSIS REPORTYSIS
REPORT
Management Discussion and Analysis Report for the year under
review as stipulated under clause 49 of the ListingAgreement forms
the part of the Annual Report and is annexed hereto.
DIRECDIRECDIRECDIRECDIRECTTTTTORS' RESPONSIBILITY STORS'
RESPONSIBILITY STORS' RESPONSIBILITY STORS' RESPONSIBILITY STORS'
RESPONSIBILITY STAAAAATEMENTTEMENTTEMENTTEMENTTEMENT
Pursuant to the provisions of subsection (2AA) of Section 217 of
the Companies Act, 1956, your Directors confirmthat:
(i) in the preparation of Annual Accounts for the financial year
ended 31st March, 2010, the applicable accountingstandards have
been followed along with the proper explanation relating to
material departures, if any;
(ii) the directors have selected such accounting policies and
applied them consistently and made judgments andestimates that are
reasonable and prudent so as to give a true and fair view of the
state of affairs of thecompany at the end of the financial year and
of the profit and loss account of the company for that period:
(iii) the directors have taken proper and sufficient care for
the maintenance of adequate accounting records inaccordance with
the provisions of this Act for safeguarding the assets of the
company and for preventing anddetecting fraud and other
irregularities
(iv) the directors have prepared the annual accounts on a going
concern basis.
CONSERVCONSERVCONSERVCONSERVCONSERVAAAAATION OF ENERGYTION OF
ENERGYTION OF ENERGYTION OF ENERGYTION OF ENERGY, TECHNOLOGY
ABSORPTION AND FOREIGN EX, TECHNOLOGY ABSORPTION AND FOREIGN EX,
TECHNOLOGY ABSORPTION AND FOREIGN EX, TECHNOLOGY ABSORPTION AND
FOREIGN EX, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
ANDCHANGE EARNINGS ANDCHANGE EARNINGS ANDCHANGE EARNINGS ANDCHANGE
EARNINGS ANDOUTOUTOUTOUTOUTGOGOGOGOGO
The details regarding Energy Conservation, Technology
Absorption, Foreign Exchange Earnings and Outgo as requiredby
section 217(1)(e) of the Companies Act, 1956 read with the
Companies (Disclosure of the particulars in the reportof the Board
of Directors) Rules, 1988 are given as Annexure and forms part of
this report.
CORPORACORPORACORPORACORPORACORPORATE GOTE GOTE GOTE GOTE
GOVERNANCEVERNANCEVERNANCEVERNANCEVERNANCE
Report on Corporate Governance as stipulated under Clause 49 of
the Listing Agreement forms part of this AnnualReport. Certificate
from the Auditors of the Company, confirming compliance of the
conditions of Corporate Governanceas stipulated under the aforesaid
Clause 49 is annexed to this Report.
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INDUSTRIAL RELAINDUSTRIAL RELAINDUSTRIAL RELAINDUSTRIAL
RELAINDUSTRIAL RELATIONSTIONSTIONSTIONSTIONS
The relationship with employees, suppliers and customers across
the Company are cordial.
SOCIAL RESPONSIBILITYSOCIAL RESPONSIBILITYSOCIAL
RESPONSIBILITYSOCIAL RESPONSIBILITYSOCIAL RESPONSIBILITY
The Company has undertaken various community projects in and
around solapur/ osmanabad district areas throughBalaji Foundation
& Research Centre. The Company has undertaken the following
activities during the year.
a. Started a clinic with a visiting Doctor for rural under
privilged, needy people at Tammalwadi in a placeprovided by village
Gram Panchayat.
b. Conducting Health camps in villages where there are no
doctors.
c. Encouraging rural youth for pursuing their dreams in
education, sports and other activities.
d. Employing rural youth by providing appropriate vocational
training.
AAAAACKNOCKNOCKNOCKNOCKNOWLEDGMENTSWLEDGMENTSWLEDGMENTSWLEDGMENTSWLEDGMENTS
Your Directors acknowledge the tremendous services rendered by
the employees of the company at all the levelstowards its overall
success. Your Directors also express their grateful appreciation
for the support and co-operationreceived from Banks, Government
authorities, Customers, Vendors and members.
For and on behalf of the Board of Directors
Secunderabad M. R. KRISHNAIAHM. R. KRISHNAIAHM. R. KRISHNAIAHM.
R. KRISHNAIAHM. R. KRISHNAIAH29 July, 2010 Chairman
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Balaji AMINES LTD.
ANNEXURE TANNEXURE TANNEXURE TANNEXURE TANNEXURE TO THE DIRECO
THE DIRECO THE DIRECO THE DIRECO THE DIRECTTTTTOR'S REPORTOR'S
REPORTOR'S REPORTOR'S REPORTOR'S REPORT
PPPPPARTICULARS REQUIRED UNDERARTICULARS REQUIRED
UNDERARTICULARS REQUIRED UNDERARTICULARS REQUIRED UNDERARTICULARS
REQUIRED UNDER
THE COMPTHE COMPTHE COMPTHE COMPTHE COMPANIES (DISCLOSURE OF
PANIES (DISCLOSURE OF PANIES (DISCLOSURE OF PANIES (DISCLOSURE OF
PANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARTICULARS IN
THE REPORT OF BOARTICULARS IN THE REPORT OF BOARTICULARS IN THE
REPORT OF BOARTICULARS IN THE REPORT OF BOARD OF DIRECARD OF
DIRECARD OF DIRECARD OF DIRECARD OF DIRECTTTTTORS) RULES, 1988ORS)
RULES, 1988ORS) RULES, 1988ORS) RULES, 1988ORS) RULES, 1988
A.A.A.A.A. CONSERVCONSERVCONSERVCONSERVCONSERVAAAAATION OF
ENERGYTION OF ENERGYTION OF ENERGYTION OF ENERGYTION OF ENERGY
(a)(a)(a)(a)(a) Energy ConservEnergy ConservEnergy ConservEnergy
ConservEnergy Conservation Measures takenation Measures takenation
Measures takenation Measures takenation Measures taken
The Company has an excellent team of professionals who are
responsible for energy conservation oncontinuous basis with the
latest trends, developments & technologies available in
conserving the energyacross all the plants.
The main areas of conservation of energy are:
a. Instrumentation & Automation
b. Steam generation & Optimum recovery by
synchronisation.
c. Waste Water utilisation & Conservation
d. Recovery of heat from process
Energy audits are done periodically and any further scope for
improvement are being addressed foreach plant at all the units duly
implementing the latest techniques, processes and
methodologies.
(b)(b)(b)(b)(b) AAAAAdditional Invdditional Invdditional
Invdditional Invdditional Investments and Proposals for Restments
and Proposals for Restments and Proposals for Restments and
Proposals for Restments and Proposals for Reduction of Consumption
of Energyeduction of Consumption of Energyeduction of Consumption
of Energyeduction of Consumption of Energyeduction of Consumption
of Energy
a. Investment in Co-generation Power Plant
b. Heat / Steam recovery system
c. Optimising the usage of storage/ pumping system.
d. Pollution control/ waste water recovery system.
(c)(c)(c)(c)(c) Impact of the aboImpact of the aboImpact of the
aboImpact of the aboImpact of the abovvvvve measurese measurese
measurese measurese measures
PLANTPLANTPLANTPLANTPLANT-I-I-I-I-I
1.1.1.1.1. VVVVVent absorber packing replaced bent absorber
packing replaced bent absorber packing replaced bent absorber
packing replaced bent absorber packing replaced by Py Py Py Py Paul
rings:aul rings:aul rings:aul rings:aul rings:
a. Loss of MMA reduced due to more absorption.
b. Frequent cleaning of MMA column reboiler reduced.
c. Coefficient of MMA reduced from 0.335 to 0.325
2.2.2.2.2. VVVVVent absorber cooler replaced bent absorber
cooler replaced bent absorber cooler replaced bent absorber cooler
replaced bent absorber cooler replaced by more HTy more HTy more
HTy more HTy more HTA exchanger:A exchanger:A exchanger:A
exchanger:A exchanger:
a. Loss of MMA through vent absorber reduced due to more
cooling.
PLANTPLANTPLANTPLANTPLANT-II-II-II-II-II
1.1.1.1.1. Separate feed arrangement for feeding MEA+DEA
mix:Separate feed arrangement for feeding MEA+DEA mix:Separate feed
arrangement for feeding MEA+DEA mix:Separate feed arrangement for
feeding MEA+DEA mix:Separate feed arrangement for feeding MEA+DEA
mix:
a. It has become easy to change the feed composition.
b. It has become easy to reduce N/C ratio to produce more
TEA
PLANTPLANTPLANTPLANTPLANT-III-III-III-III-III
1.1.1.1.1. Mechanical seal fixed to RMechanical seal fixed to
RMechanical seal fixed to RMechanical seal fixed to RMechanical
seal fixed to Reactor "B" in place of gland:eactor "B" in place of
gland:eactor "B" in place of gland:eactor "B" in place of
gland:eactor "B" in place of gland:
a. Loss of DMA reduced which was through gland.
PLANTPLANTPLANTPLANTPLANT-VIII:-VIII:-VIII:-VIII:-VIII:
1.1.1.1.1. New extra solution making mass floNew extra solution
making mass floNew extra solution making mass floNew extra solution
making mass floNew extra solution making mass flow installed:w
installed:w installed:w installed:w installed:
Benefits:Benefits:Benefits:Benefits:Benefits:
a. Solution preparation rate has increased from 50 mtpd to 150
mtpd
PLANTPLANTPLANTPLANTPLANT-X:-X:-X:-X:-X:
1.1.1.1.1. New preheater fixed to preheat DEG at E1New preheater
fixed to preheat DEG at E1New preheater fixed to preheat DEG at
E1New preheater fixed to preheat DEG at E1New preheater fixed to
preheat DEG at E1000005:5:5:5:5:
Benefits:Benefits:Benefits:Benefits:Benefits:
a. Steam consumption reduced at E105.
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2.2.2.2.2. Shell & tube preheater remoShell & tube
preheater remoShell & tube preheater remoShell & tube
preheater remoShell & tube preheater removvvvved & double
pipe preheater fixed at caustic scrubber circulation:ed &
double pipe preheater fixed at caustic scrubber circulation:ed
& double pipe preheater fixed at caustic scrubber
circulation:ed & double pipe preheater fixed at caustic
scrubber circulation:ed & double pipe preheater fixed at
caustic scrubber circulation:
Benefits:Benefits:Benefits:Benefits:Benefits:
a) Frequent shut down due to frequent leakage of preheater
stopped.
(d)(d)(d)(d)(d) TTTTTotal Energy Consumption and energy
Consumption per unit of productionotal Energy Consumption and
energy Consumption per unit of productionotal Energy Consumption
and energy Consumption per unit of productionotal Energy
Consumption and energy Consumption per unit of productionotal
Energy Consumption and energy Consumption per unit of production
-Form 'A' attached hereto
BBBBB..... TECHNOLOGY ABSORPTION (ENCLOSED IN FORM B)TECHNOLOGY
ABSORPTION (ENCLOSED IN FORM B)TECHNOLOGY ABSORPTION (ENCLOSED IN
FORM B)TECHNOLOGY ABSORPTION (ENCLOSED IN FORM B)TECHNOLOGY
ABSORPTION (ENCLOSED IN FORM B)
Efforts made in technology absorption - Form B attached
hereto
C.C.C.C.C. FOREIGN EXFOREIGN EXFOREIGN EXFOREIGN EXFOREIGN
EXCHANGE EARNINGS AND OUTCHANGE EARNINGS AND OUTCHANGE EARNINGS AND
OUTCHANGE EARNINGS AND OUTCHANGE EARNINGS AND OUTGOGOGOGOGO
As the global market is evidencing the recessionary trend, your
company has made sustained efforts in exploring,export markets. The
particulars are as under:
111110.0.0.0.0. FFFFForeign exchange earnings and outgooreign
exchange earnings and outgooreign exchange earnings and outgooreign
exchange earnings and outgooreign exchange earnings and outgo
CURRENT YEARCURRENT YEARCURRENT YEARCURRENT YEARCURRENT YEAR
EarningsEarningsEarningsEarningsEarnings US DollarsUS DollarsUS
DollarsUS DollarsUS Dollars
4585878.124585878.124585878.124585878.124585878.12
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR
222221,65,35,8801,65,35,8801,65,35,8801,65,35,8801,65,35,880 in
Exportsin Exportsin Exportsin Exportsin Exports
EuroEuroEuroEuroEuro
5656565656180180180180180333331.761.761.761.761.76
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR
37,58,99,27537,58,99,27537,58,99,27537,58,99,27537,58,99,275 in
Exportsin Exportsin Exportsin Exportsin Exports
GBPGBPGBPGBPGBP 27272727271769.361769.361769.361769.361769.36
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR
2,02,02,02,02,02,29,22,29,22,29,22,29,22,29,20000011111 in
Exportsin Exportsin Exportsin Exportsin Exports
PREVIOUS YEARPREVIOUS YEARPREVIOUS YEARPREVIOUS YEARPREVIOUS
YEAR
US Dollars 3498876.75 equivalent to INR 15,42,60,740 in
Exports
Euro 5685380.90 equivalent to INR 36,87,69,946 in Exports
GBP 132800.00 equivalent to INR 1,01,11,520 in Exports
CURRENT YEARCURRENT YEARCURRENT YEARCURRENT YEARCURRENT YEAR
OutgoOutgoOutgoOutgoOutgo US DollarsUS DollarsUS DollarsUS
DollarsUS Dollars 15151515150000094.1394.1394.1394.1394.13
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR 7,24,407,24,407,24,407,24,407,24,4011111 FFFFFor
commission toor commission toor commission toor commission toor
commission towwwwwardardardardardsales promotionsales
promotionsales promotionsales promotionsales promotion
EUREUREUREUREUROOOOO 7988.007988.007988.007988.007988.00
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR 5,38,2425,38,2425,38,2425,38,2425,38,242
US DollarsUS DollarsUS DollarsUS DollarsUS Dollars
229.00229.00229.00229.00229.00 equivequivequivequivequivalent to
INRalent to INRalent to INRalent to INRalent to INR
111110,5520,5520,5520,5520,552 FFFFFor Ror Ror Ror Ror Regn. &
Regn. & Regn. & Regn. & Regn. &
Renewenewenewenewenewal exp.al exp.al exp.al exp.al exp.
EUREUREUREUREUROOOOO 99999000.00000.00000.00000.00000.00
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR 5,98,6805,98,6805,98,6805,98,6805,98,680 FFFFFor
Ror Ror Ror Ror Regn. & Regn. & Regn. & Regn. &
Regn. & Renewenewenewenewenewal exp.al exp.al exp.al exp.al
exp.
US DollarsUS DollarsUS DollarsUS DollarsUS Dollars
44393.0044393.0044393.0044393.0044393.00
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR 222221,25,6371,25,6371,25,6371,25,6371,25,637
FFFFFor traor traor traor traor travvvvveling expenseseling
expenseseling expenseseling expenseseling expenses
EUREUREUREUREUROOOOO 393939393900.0000.0000.0000.0000.00
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR 2,72,72,72,72,71,01,01,01,01,05353535353 FFFFFor
traor traor traor traor travvvvveling expenseseling expenseseling
expenseseling expenseseling expenses
EUREUREUREUREUROOOOO 22969.0422969.0422969.0422969.0422969.04
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR 14,97,314,97,314,97,314,97,314,97,30606060606
TTTTTooooowwwwwards Exhibition chargesards Exhibition chargesards
Exhibition chargesards Exhibition chargesards Exhibition
charges
US DollorsUS DollorsUS DollorsUS DollorsUS Dollors
47747747747747700.0000.0000.0000.0000.00
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR 222221,73,8601,73,8601,73,8601,73,8601,73,860
FFFFFor consultancy Chargesor consultancy Chargesor consultancy
Chargesor consultancy Chargesor consultancy Charges
US DollarsUS DollarsUS DollarsUS DollarsUS Dollars
135135135135135000.00000.00000.00000.00000.00
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR 62,37,00062,37,00062,37,00062,37,00062,37,000
FFFFFor Import of Machineryor Import of Machineryor Import of
Machineryor Import of Machineryor Import of Machinery
US DollarsUS DollarsUS DollarsUS DollarsUS Dollars
11111181818181817653.1717653.1717653.1717653.1717653.17
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR
56,656,656,656,656,61,56,11,56,11,56,11,56,11,56,11111111111 for
import of Rfor import of Rfor import of Rfor import of Rfor import
of Raaaaaw Materialsw Materialsw Materialsw Materialsw
Materials
EUREUREUREUREUROOOOO
11111167516751675167516750.000.000.000.000.00
equivequivequivequivequivalent to INRalent to INRalent to INRalent
to INRalent to INR
888881,23,4651,23,4651,23,4651,23,4651,23,465
PREVIOUS YEARPREVIOUS YEARPREVIOUS YEARPREVIOUS YEARPREVIOUS
YEAR
US Dollars 9356.74 equivalent to INR 4,06,320 For commission
towardsales promotion
US Dollars 1979.00 equivalent to INR 88,612 For Regn. &
Renewal exp.
EURO 11625.00 equivalent to INR 7,77,690 For Regn. & Renewal
exp.
US Dollars 40891.79 equivalent to INR 21,61,130 For traveling
expenses
EURO 2245.91 equivalent to INR 1,39,348 For traveling
expenses
Yenn 5640.20 equivalent to INR 33,195 For traveling expenses
EURO 33496.62 equivalent to INR 21,69,205 Towards Exhibition
charges
US Dollors 76500.00 equivalent to INR 32,68,318 For
consultancy
US Dollars 787107.00 equivalent to INR 3,31,21,587 For Import of
Machinery
US Dollars 18334591.28 equivalent to INR 83,63,84,214 for import
of Raw Materials
-
www.balajiamines.com2122nd Annual R22nd Annual R22nd Annual
R22nd Annual R22nd Annual Report 2eport 2eport 2eport 2eport
200000000009-29-29-29-29-2000001111100000
Balaji AMINES LTD.
FORM AFORM AFORM AFORM AFORM A
FFFFForm of Disclosure of particulars with respect to
Consumption of Energyorm of Disclosure of particulars with respect
to Consumption of Energyorm of Disclosure of particulars with
respect to Consumption of Energyorm of Disclosure of particulars
with respect to Consumption of Energyorm of Disclosure of
particulars with respect to Consumption of Energy
A.A.A.A.A. POPOPOPOPOWER AND FUEL CONSUMPTIONWER AND FUEL
CONSUMPTIONWER AND FUEL CONSUMPTIONWER AND FUEL CONSUMPTIONWER AND
FUEL CONSUMPTION
Sl.No. Sl.No. Sl.No. Sl.No. Sl.No.
PPPPParticularsarticularsarticularsarticularsarticulars Current
YCurrent YCurrent YCurrent YCurrent Yearearearearear Previous
Year
1.1.1.1.1.
ElectricityElectricityElectricityElectricityElectricity
a) Purchased Units 53735835373583537358353735835373583
8955875
Total Amount Rupees 2532492532492532492532492532491717171717
36572439
Average rate per unit Rupees 4.74.74.74.74.711111 4.08
b) Own Generation
I. Through Diesel Generator
II. Units 777771569315693156931569315693 437326
Total amount Rupees 85268526852685268526181818181811111
6368848
Average cost per unit Rupees 111111.91.91.91.91.911111 14.56
III. Through Steam turbine
IV. Units 1111111111111110000059365936593659365936 —
Total amount rupees 2675288626752886267528862675288626752886
—
Average rate per unit 2.42.42.42.42.411111 —
2.2.2.2.2. CoalCoalCoalCoalCoal
I. Coaking Coal for Boiler (MT)
635635635635635000005.745.745.745.745.7411111 39938.700
Total Cost Rupees 244324263244324263244324263244324263244324263
177010816
Average rate per MT 3847.283847.283847.283847.283847.28
4432.06
3.3.3.3.3. Furnace OilFurnace OilFurnace OilFurnace OilFurnace
Oil — —
4.4.4.4.4. Other (Agricultural wOther (Agricultural wOther
(Agricultural wOther (Agricultural wOther (Agricultural
waste)aste)aste)aste)aste)
I. Bagassee
Quantity (MT) ————— —
Total Cost Rupees ————— —
Average rate per MT ————— —
II. Fire wood
Quantity (MT) 176.94176.94176.94176.94176.94 —
Total Cost Rupees 352835283528352835281515151515 —
Average rate per MT 1993.981993.981993.981993.981993.98 —
BBBBB..... CONSUMPTION PER UNIT OF PRCONSUMPTION PER UNIT OF
PRCONSUMPTION PER UNIT OF PRCONSUMPTION PER UNIT OF PRCONSUMPTION
PER UNIT OF PRODUCODUCODUCODUCODUCTIONTIONTIONTIONTION
Sl.No. Sl.No. Sl.No. Sl.No. Sl.No.
PPPPParticularsarticularsarticularsarticularsarticulars Current
YCurrent YCurrent YCurrent YCurrent Yearearearearear Previous
Year
1.1.1.1.1.
ElectricityElectricityElectricityElectricityElectricity
I. Total Production (MT)
a) Aliphatic Amines and Derivatives
438043804380438043809.2289.2289.2289.2289.228 38874.268
II. Electricity (KWH) 392.5392.5392.5392.5392.500000 241.63
III. Furnace Oil (Liters) —
-
22
Balaji AMINES LTD.
www.balajiamines.com22nd Annual R22nd Annual R22nd Annual R22nd
Annual R22nd Annual Report 2eport 2eport 2eport 2eport
200000000009-29-29-29-29-2000001111100000
FORM BFORM BFORM BFORM BFORM B
FFFFForm of Disclosure of Porm of Disclosure of Porm of
Disclosure of Porm of Disclosure of Porm of Disclosure of
Particulars with respect to Tarticulars with respect to Tarticulars
with respect to Tarticulars with respect to Tarticulars with
respect to Technology Absorptionechnology Absorptionechnology
Absorptionechnology Absorptionechnology Absorption
A.A.A.A.A. RESEARRESEARRESEARRESEARRESEARCH AND DEVELOPMENTCH
AND DEVELOPMENTCH AND DEVELOPMENTCH AND DEVELOPMENTCH AND
DEVELOPMENT
1.1.1.1.1. Specific Areas in which the companSpecific Areas in
which the companSpecific Areas in which the companSpecific Areas in
which the companSpecific Areas in which the company carries out
R&D.y carries out R&D.y carries out R&D.