DRIVIN G ROWTH - Dr. Reddy's

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directors’ report
Your Directors have pleasure in presenting the Annual Report with audited accounts of the Company for the year ended March 31,
2002.
FINANCIAL RESULTS
The Company achieved a total sales of Rs. 94,441,878. The loss for the year ended March 31, 2002 was Rs. 7,810,488.
DIRECTORS’ RESPONSIBILITY STATEMENT
In terms of section 217 (2AA) of the Companies Act, 1956, your Directors confirm as under:
1. In preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating
to material departures;
2. We have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year 2001-2002
and of profit of the Company for that period;
3. We have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions
of this Act for safeguarding the assets of the Company and or preventing and detecting fraud and other irregularities;
4. We have prepared the annual accounts on an ongoing concern basis.
AUDITORS
M/s. A. Ramachandra Rao & Co., Chartered Accountants, the Statutory Auditors of the Company retire at the ensuing Annual General
Meeting and are eligible for reappointment.
DIRECTORS
Mr. Satish Reddy, Director of the Company, retire by rotation and being eligible offer himself for re-appointment.
PARTICULARS OF EMPLOYEES
There are no employees who are drawing salary more than the amount as specified under the provisions of section 217(2A) of the
Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 as amended. Hence the relevant provisions are not
applicable to the Company.
CONSERVATION OF ENERGY RESEARCH AND DEVELOPMENTS, TECHNOLOGY ABSORPTION,
FOREIGN EXCHANGE EARNING AND OUTGO
The particulars as prescribed under subsection (1)(e) of section 217 of the Companies Act, 1956, read with the Companies (Disclosure
of the particulars in the report of Board of Directors) Rule, 1988 are not applicable to your Company.
ACKNOWLEDGEMENTS
Your Directors wish to express their gratitude to all concerns for the co-operation to the Company during the year.
COMPACT ELECTRIC LTD. | FINANCIALS | ANNUAL REPORT 2001-2002
For and on behalf of the Board
Hyderabad SATISH REDDY
June 4, 2002 Director