Excel Crop Care Ltd 2003

8/2/2019 Excel Crop Care Ltd 2003

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SANSCO SERVICES - Annual Reports Library Services - www.sansco.net

w w w . r e p o r t j u n c t i o n
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rop Care Limited has identified the farmer as its core custom er.cover depicts the company mission towards Crop Care Solutions in Indiad across the globe.w w w . r e p o r t j u n c t i o n


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Excel Crop Care LimiteB e y o n d c r o p p r o t e c t i o n . B e h i n d e v e r y f a r m

New Plant at GajodE x c e l ' s n e w m a n u f a c t u r i n g p l a nw as s t a r t e d a t G a j o d (Kutch) - as i t e c h o s e n t o p r o vi de e c o n o m is u p p o r t t o t h e e a r t h q u a k ea f f e c t e d p e o p l e i n t h e a r e a a n da l s o p r o v i d e j o b opportunities tt h e s e i n h a b i t a n t s . T h e l o c a t i o n ia l s o e l i g i bl e fo r t a x b e n e f it su n d e r t h e s p e c i a l P r im e M i n is t eTax B e n e f it S c h e m e .A s p e c i a l 3 - m o n t h t r ai n in gp r o g r a m m e fo r l o c a l y o u n gt e c h n i c i a n s w a s c o n d u c t e d t h e rt o o r i e n t t h e m i n t h e i n d u s t r i a lw o r k c u l t u r e t o w a r d s sa f e a n de f f e c t i ve p l a n t o p e r a t i o n .

OHSAS: 18001CertificationE x c e l Crop C a r e L im i te d , B h a v n a g a r - t h e c o m p a n y ' sp r i n c i p a l p l a n t - h a s r e c e i v e d c e r t i f ic a t i o n f o rO c c u p a t i o n a l H e a l t h & S a f e t y M a n a g e m e n t S y s t e m s .T h e a w a r d w a s r e c e i v e d fo r c a r e o f i t se m p l o y e e s i n t h e a r e a s o f O c c u p a t i o n a lH e a l t h an d Sa f e t y .

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Excel Crop Care LimitB e y o n d c r o p p r o t e c t i o n . B e h i n d e v e r y f o

Marketing FocusMeetIn January 2003, the entireMarketing Team of E x c e l CropCare met at Bhavnagar tounderstand better the companyn e w focus and drive into theagriculture sector. With plantv i s i t s and better insights into thmanufacture of each product,n e w focus team was formed toprovide direction and impetusthe c o m p a n y ' s marketing effort

ExportsE x c e l Crop Care Limited achieved an export turnover of Rs. 70 crore, as againstR s . 65 crore in the earlier year. In addition to the export of Technical actives, thecompany has increased export of bulk and branded formulations. Exports arel i k e l y to contribute significantly in the coming y e a r s .

EnrichingManagerialLeadership MeetAn interactive learningprogramme was conducted forSenior E x e c u t i v e s o f E x c e l a n dit s associate companies. T h etheme was "Collaborating for acreative future" and theparticipants were enriched withpresentations by doyens of theindustry, Mr. J. J. Irani, Dr. M. BAthreya, Dr. Pritam Singh andDr . R i s h i Kumar Pandya.

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Excel Crop Care LimitB e y o n d c r o p p r o t e c t i o n .Behind e v e r y fo r

Rural Training ProgrammeA n i n t e n s i v e a n d p a r t ic i p a ti ve p r o g r a m m e w a s c o n d u c t efo r u n e m p l o y e d y o u t h a n d fo r t h e e m p o w e r m e n t o fw o m e n in A g r i c u l t u r e at D e o r i a , a r e m o t e v i l l ag e in Ut tP r a d e s h .T h is p r o g r a m , w h i c h w a s w i d e l y at te n d e d , r e c e i v e d g r e aa p p r e c i a t i o n f r o m t h e f o r m e r S e c r e t a r y o f A g r i c u l t u r e ,S h r i J . L. N . S r iv a s t a v a .

IPM / ICMFarmers training programmeA f a r m e r t r a in i n g p r o g r a m m e w a s h e l d a t Sirsa i n H a r y a n aw h e r e t h e a t te n d in g f a r m e r s g a in e d n e w in f o r m a t i o n a n dk n o w l e d g e o n h o w to o p t i m i s e t h e i r output - right f r o m landp r e p a r a t i o n t o p o s t -h a r ve s t m a n a g e m e n t . T h e IPM/ICMp r o g r a m m e , o r g a n i s e d b y E x c e l , h a d p a r t i c i p a t i o n f r o ma g r i c u l t u r a l s c i e n t i s t s as w e l l a s o f f i c i a ls f r o m t h e M i n i s t r y o fA g r i c u l t u r e , bo t h c e n t r a l a s w e l l a s t h eState o f H a r y a n a .



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Excel Crop Care LimiteB e y o n d c r o p p r o t e c t i o n . B e h i n d e v e r y f a r m

Bharat GauravAward

T h e c o m p a n y w a s t h e r e c i p i e nof the B h a r a t G a u r a v A w a r d foi n d i g e n o u s D e v e l o p m e n t ofT e c h n o l o g y for W a s t eManagement from the B h a r a tV i k a s P a r i s h a d .Mr. A s h w i n S h r o f f , ManagingDirector r e c e i v e d the a w a r d onb e h a l f of the c o m p a n y .

Excel ExpressionE v e r y y e a r , the c o m p a n y ' s B h a v n a g a r plant c o n d u c t s aw e e k l o n g programme for the High S c h o o l and Colleges t u d e n t s of B h a v n a g a r to e n c o u r a g e their h i d d e n t a l e n t s andp r o v i d e s a platform t o e x p r e s s t h e m s e l ve s o n v a ri o u s s u bje c t s .T h e photograph s h o w s the T r o p h y being g i v e n to t h i s y e a r ' sw i n n e r s - t h e D e p a r tm e n t o f B u s i n e s s Administration,B h a v n a g a r U n i ve r s i t y, who s e c u r e d the top m a r k s in all thee v e n t s .

Vishwakarma Rashtriya PuraskarT h e V i s h w a k a r m a R a s h t r i ya P u r a s k a r w a s awarded t o M r . R a j e s h J .L a n g a l i a of E n d o s u l f a n P l a n t for his s u g g e s t i o n on HetDiol r e c r y s t a l l i z a t i o nT h e a w a r d was g i v e n on S e p t e m b e r 1 7,2003 at V i g y a n B h a v a n ,New Delhi by Dr. S a h e b S i n g h Verma, Hon'ble Minister of L a b o u r ,Government of India. T h i s award is i n s t i t u t e d for e x c e l l e n c e in s u g g e s t i o n sthat promote " i n d u s t r i a l e f f i c i e n c y " . E x c e l is proud o f t h i s a c h i e v e m e n t b ya n E x c e l i t e .



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SANSCO SERVICES - Annual Reports Library Services - www.sansco.netEXCEL C ROP C AR E L I M I T E D( F o r m e r ly k n o w n a s W e s t C o a s t O x y g e n L im i te d )

C O N T E N T SB o a r d o f D i r e c t o r s 2N o t i c e 3-15D i r e c t o r s ' R e p o r t 16-23M a n a g e m e n t D i s c u s s i o n a n d A n a l y s i s 2 4 - 2 5C o r p o r a te G o v e r n a n c e R e p o r t 2 6 - 34A u d i t o r s ' R e p o r t 3 5 - 3 7B a l a n c e S h e e t 3 8P r o f i t & L o s s A c c o u n t 3 9S c h e d u l e s ' A ' to T f o r m i n g p a r t o f A c c o u n t s 4 0 - 4 8S c h e d u l e ' U ' : N o t e s o n A c c o u n t s 4 9- 6 0A u d i to r s ' R e p o r t o n C o n s o l i d a te d F i n a n c i a l S t a t e m e n t s 6 1C o n s o l id a t e d B a la n c e S h e e t 6 2C o n s o l id a t e d P r o f i t & L o s s A c c o u n t 6 3S c h e d u l e s ' A ' to ' T ' fo r m i n g p a r t o f C o n s o l id a t e d A c c o u n t s 6 4 - 6 9S c h e d u l e 'U': N o t e s o n C o n s o l id a t e d A c c o u n t s 70- 76S t a t e m e n t p u r s u a n t t o S e c t i o n 2 1 2 o f t h e C o m p a n i e s A c t , 1 9 5 6 , r e l a t i n g t o S u b s i d i a r y C o m p a n i e s . . . . 7 7E X C E L INDUSTRIES ( A U S T R A L I A ) P T Y LIMITED:D i r e c t o r s ' R e p o r t 7 8 - 7 9A u d i t o r s ' R e p o r t 8 0D i r e c t o r s ' D e c l a r a t i o n . . . . . 8 0S t a t e m e n t o f F i n a n c ia l P e r f o rm a n c e .. 8 1S t a t e m e n t o f F i n a n c i a l P o s i t i o n 8 1S t a te m e n t o f C a s h F l o w s 8 2N o t e s t o t h e F i n a n c i a l S t a t e m e n t s 83-87E X C E L INDUSTRIES (EUROPE) N. V .:R e p o r t o f th e B o a r d o f D i r e c t o r s 88-89S t a t u t o r y A u d i to r s ' R e p o r t 9 0A n n u a l A c c o u n t s 91-101

A n n u a l G e n e r a l M e e t in g o n M o n d a y 29-12-2003 a t 3 . 0 0 p . m .A t R a m a W a t u m u / l A u d i t o r i u m , K i s h i n c h a n d C h e l a r a m C o l le g e ,D i n s h a w W a c h a R o a d , C h u r c h g a t e , Mumba i - 400 0 2 0 .

A REQUESTW e a r e s u r e y o u w i ll re a d w i th i n t e r e s t t h e A n n u a l R e p o r t f o r t h e y e a r 2002 -03 . Y o u m a y d e s i r e t o h a v e s o m e c l a r i f i c a t i o n o ra d d i t i o n a l i n fo r m a t io n a t th e e n s u i n g A n n u a l G e n e r a l M e e t in g . W e s h a l l v e r y m u c h a p p r e c i a t e , if y o u w i ll k i n d l y w r i t e t o u s a t' l e a s t t e n d a y s i n a d v a n c e i n o r d e r t o e n a b le u s to k e e p t h e in f o r m a t io n r e a d y f o r y o u a t th e M e e t i n g . W e s o l ic i t y o u r k i n dc o - o p e r a t i o n .

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SANSCO SERVICES - Annual Reports Library Services - www.sansco.netE X C E L C R O P C A R E L I M I T E D( F o r m e r l y k n o w n a s W e s t C o a s t O x y g e n L i m i t e d )

B O A R D OF DIRECTORSA . C . S H R O F F , C h a i r m a nD I P E S H K . S H R O F F , M a n a g i n g D i r e c t o r ( w . e . f. 1 . 9 . 2 0 0 3 )P R A K A S H K . S H R O F F , E x e c u t iv e D i r e c t o r ( w . e . f. 1 . 9 . 2 0 0 3 )R . G . S H R O F F ( U p t o 1 . 2 . 2 0 0 3 )J . R . m\( ( w . e . f . 1 . 2 . 2 0 0 3 )M. L . S H A H ( w . e . f . 1 . 2 . 2 0 0 3 )M U K U L G . A S H E R ( w . e . f . 3.9.2003)SANDEEP JUNNARKAR (w.e. f . 3 . 9 . 2003 )B . V . B H A R G A V A ( w . e . f . 29 .10 .2003)L . R A J A G O P A L A N ( w . e . f . 1 1 . 1 0 . 2 0 0 3 ) A l t e r n a t e t o M r . M u k u l G . A s h e r

V I C E - P R E S I D E N T ( A C C O U N T S & M I S ) & S E C R E T A R YV . K . P A R M A R

B A N K E R SB a n k o f I n d i aS y n d i c a te B a n kS t a t e B a n k o f I n d i aC i t i b a n k N . A .A B N A m r o B a n k N . V .

A U D I T O R SS . V . G H A T A L I A & A S S O C I A T E SC h a r t e r e d A c c o u n t a n t s

R E G I S T E R E D O F F I C E184-87, S w a m i V i v e k a n a n d R o a d ,J o g e s h w a r i ( W ) , Mumbai 4 0 01 02 .

F A C T O R I E SR u v a p a r i R o a d , B h a v n a g a rS i l v a s s a , U n i o n T e r r i t o r y o f D a d r a a n d N a g a r H a v e l iK a i r a G a j o d H i g h W a y , G a j o d , K u t c h

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SANSCO SERVICES - Annual Reports Library Services - www.sansco.netE X C E L C R O P C A R E L I M I T E D( F o r m e r ly k n o w n a s W e s t C o a s t O x y g e n L i m i t e d )

NOTICEN O T I C E i s h e r e b y g i v e n t h a t t h e T H I R T Y - N I N T H A N N U A L G E N E R A L M E E T I N G o f t h e M e m b e r s o f E X C E L C R O P C A R E L I M I T E Dwill b e h e ld a t R a m a W a t u m u l l A u d i to r i u m , K i s h i n c h a n d C h e l la r a m C o l l e g e , D i n s h a w W a c h a R o a d , C h u r c h g a t e ,Mumbai-400020 o n M o n d a y , t h e 2 9 lh D e c e m b e r , 2 0 0 3 a t 3 . 00 p . m . t o t ra n s a c t t h e fo l l o w i n g b u s i n e s s :1. T o r e c e i v e , c o n s i d e r a n d a d o p t t h e P r o f i t a n d L o s s A c c o u n t o f th e C o m p a n y fo r th e y e a r e n d e d 3 1 s t M a r c h , 2 0 0 3 , t h e

B a l a n c e S h e e t a s a t t h a t d a t e , a n d t h e R e p o r t s o f t h e D i r e c t o r s a n d t h e A u d i t o r s t h e r e o n .2 . T o d e c l a r e a d i v id e n d .3 . T o a p p o i n t a d i r e c t o r in p l a c e o f M r . A . C . S h r o f f , w h o r e t i r e s b y r o t a t i o n a n d b e i n g eligible, o f f e r s h i m s e l f fo rr e - a p p o i n t m e n t .4 . T o a p p o i n t A u d i t o r s a n d t o f i x t h e i r r e m u n e r a t i o n a n d i n t h i s c o n n e c t i o n t o c o n s i d e r a n d , if t h o u g h t f i t , t o p a s s , w i t h o rw i th o u t m o d i f ic a t i o n , a s a S p e c i a l R e s o l u t io n , t h e f o l lo w i n g :

" R E S O L V E D T H A T p u r s u a n t t o t h e p r o v i s i o n s o f S e c t i o n 2 2 4 - A a n d o t h e r a p p l ic a b l e p r o v i s io n s , if a n y , o f t h e C o m p a n i e sA c t , 1 9 5 6 , M e s s r s S . V . G h a t a l i a & A s s o c i a te s , C h a r t e re d A c c o u n t a n t s , t h e r e t i r i n g A u d i t o r s o f t h e C o m p a n y , b e a n d a r eh e r e b y r e - a p p o i n te d a s A u d i t o rs o f th e C o m p a n y t o h o l d o f f i c e f r o m t h e c o n c l u s i o n o f t h is M e e t in g u n t i l t he c o n c l u s i o no f t h e n e x t A n n u a l G e n e r a l M e e t i n g o f t h e C o m p a n y o n a r e m u n e r a t i o n t o b e f i x e d b y t h e B o a r d o f D i r e c t o r s . "

SPECIAL BUSIN E SS5 . T o c o n s id e r a n d , i f t h o u g h t fit, t o p a s s , w i th o r w i t h o u t m o d i f ic a t io n , a s a n O r d i n a r y R e s o l u t i o n , th e f o l l o w i n g :

" R E S O L V E D T H A T p u r s u a n t to t h e p r o v i s i o n s o f S e c t i o n 2 2 8 a n d o t h e r a p p l ic a b l e p r o v i s i o n s , i f a n y , o f t h e C o r fi p a n ie sA c t , 1 9 5 6 ( a s t h e s a m e m a y b e r e - e n a c t e d o r m o d i f i e d , f r o m t i m e t o t i m e ) , t h e B o a r d o f D i r e c t o r s o f t h e C o m p a n y b ea n d i s h e r e b y a u t h o r is e d t o a p p o i n t , i n c o n s u l t a ti o n w i t h t h e C o m p a n y ' s A u d i t o r s , a n y p e r s o n o r p e r s o n s q u a l i f i e d f o ra p p o i n t m e n t a s A u d i t o r o r A u d i t o r s o f t h e C o m p a n y u n d e r S e c t i o n 2 2 6 o f t h e C o m p a n i e s A c t , 1 9 5 6 , t o a u d i t t h e a c c o u n t so f t h e C o m p a n y ' s B r a n c h O f f i c e s a t D e l h i, K o l k a t a , H y d e r a b a d a n d A h m e d a b a d f o r t h e f i n a n c i a l y e a r 2 0 0 3 - 0 4 a n d t o f i xt h e i r r e m u n e r a t i o n . "

6 . T o c o n s i d e r a n d , if t h o u g h t f i t , t o p a s s , w i t h o r w i th o u t m o d i fi c a t i o n , a s a n O r d i n a r y R e s o l u t io n , th e fo l l o w i n g :" R E S O L V E D T H A T p u r s u a n t to t he p r o v i s io n s o f S e c t i o n s 1 9 8 , 2 6 9 a n d 3 0 9 r e a d w i th S c h e d u l e X I II a n d a l l o t h e ra p p l ic a b l e p r o v i s i o n s , i f a n y , o f t h e C o m p a n i e s A c t , 1 9 5 6 ( a s t h e s a m e m a y b e r e - e n a c t e d o r m o d i fi e d , f r o m t i m e t ot i m e ) , a n d s u b j e c t t o s u c h o t h e r a p p r o v a l s a s m a y b e n e c e s s a r y , t h e c o n s e n t a n d a p p r o v a l o f t h e C o m p a n y b e a n d i sh e r e b y a c c o r d e d t o t h e a p p o i n t m e n t o f M r . D i p e s h K . S h r o f f t o t h e o f f i c e o f M a n a g i n g D i r e c t o r o f t h e C o m p a n y f o r at e r m o f f i v e y e a r s w i t h e f f e c t f ro m 1 s t S e p t e m b e r , 2003, o n t h e t e r m s a n d c o n d i t i o n s including r e m u n e r a t i o n a s s e t o u tin th e d r a f t A g r e e m e n t t o b e e x e c u t e d b e t w e e n th e C o m p a n y a n d M r . D i p e s h K . S h r o f f , p l a c e d b e f o r e t he m e e t in g a n dd u l y i n i t ia l le d b y t h e C h a i rm a n f o r t h e p u r p o s e o f i d e n t i f i c a t io n , w h i c h A g r e e m e n t i s h e r e b y s p e c i f ic a l l y s a n c t i o n e d , w i t hl i b e r t y t o t h e B o a r d o f D i r e c t o r s t o a l t e r a n d v a r y t h e t e r m s a n d c o n d i t i o n s o f a p p o i n t m e n t , b u t s o a s n o t t o e x c e e d t h er e m u n e r a t io n a n d p e r q u i s it e s s e t o u t i n t h e d r a f t A g r e e m e n t . "

7 . T o c o n s i d e r a n d , i f t h o u g h t f it , t o p a s s , w i t h o r w i th o u t m o d i fi c a t io n , a s a n O r d i n a r y R e s o l u t io n , t h e f o l l o w i n g :" R E S O L V E D T H A T p u r s u a n t t o t h e p r o v i s i o n s o f S e c t i o n s 1 9 8 , 2 6 9 a n d 3 0 9 r e a d w i t h S c h e d u l e X I I I a n d a l l o t h e ra p p l i c a b l e p r o v i s i o n s , if a n y , o f t h e C o m p a n i e s A c t , 1 9 5 6 ( a s t h e s a m e m a y b e r e - e n a c t e d o r m o d i f i e d , f r o m t i m e t ot i m e ) , a n d s u b j e c t to s u c h o t h e r a p p r o v a ls a s m a y b e n e c e s s a r y , t he c o n s e n t an d a p p r o v a l o f th e C o m p a n y b e a n d ish e r e b y a c c o r d e d t o t h e a p p o i n t m e n t o f M r . P r a k a s h K . S h r o f f t o t h e o f f i c e o f E x e c u t iv e D i r e c t o r o f th e C o m p a n y fo r at e r m o f f iv e y e a r s w i t h e f f e c t f r o m 1 s t S e p t e m b e r , 2 0 0 3 , o n t h e t e rm s a n d c o n d i t io n s in c l u d in g r e m u n e r a t io n a s s e t o u t

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