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MAHARASHTRA SEAMLESS LIMITED B. CONSUMPTION PER UNIT OF PRODUCTION a) SEAMLESS PIPES (MT) Electricity (Units) 287.560 272.071 LDO (KL) 0.126 0.117 HSD (KL) 0.002 0.002 LPG (MT) 0.006 0.005 b) ERW PIPES (MT) Electricity (Units) 73.726 78.972 HSD (KL) 0.001 0.001 FORM B FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO : RESEARCH AND DEVELOPMENT (R&D) 1. Specific areas in which R&D carried out by the Company i) To improve the pipe quality a new concept of quencing by immersion type is under implementation. ii) R&D activities of the Company remained centered around the development of new products, improvement of existing products and processes, problem solving, cost reduction, pollution control, energy conservation. 2. Benefits derived as a result of above R&D As a result of the R&D activities, new products were developed, existing products and process were improved and costs were reduced through energy conservation and savings in the use of materials. 3. Future plan of action Concentration will remain in the development of new sizes and upgradation of the quality. The high priority will be given to the upgradation of technology, energy conservation, cost reduction and commission and establish the sizes for 14” Pipe Mill. 4. Expenditure on R&D Expenditure on R&D is not separately allocated and identified. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION 1. Efforts in brief made towards technology absorption, adaptation and innovation. The production / Quality Control department absorbs the technology received from the collaborators, adopting the same to local conditions and uses its own experience to effect improvements to the product and manufacturing process. 2. Benefits derived as a result of the above efforts etc. Through above measures, the Company has continued to achieve product improvement / development, process improvement / development, commercialisation of technology, cost reduction, import substitution etc. 3. In case of imported technology (Imported during the last 5 years reckoned from the beginning of the financial year) prescribed information may be furnished: Sl. Technology Imported Year of Import Has Technolog If not fully absorbed, No. been fully areas where this absorbed has not taken place 1 Technical know-how for machining, testing 2000 - 01 Yes Not applicable & otherwise forming threaded connections from M/s Hydril Company, USA. 2 Technical know-how and process 2003 - 04 Implemented during 14” Hot Mill detail for plug mill and classical rellers the year were received from USA 14
MAHARASHTRA SEAMLESS LIMITED CORPORATE GOVERNANCE REPORT The report on Corporate Governance as per requirement under Clause 49 of the Listing Agreement is given below : A. MANDATORY REQUIREMENTS 1. COMPANY’S PHILOSOPHY ON CODE OF GOVERNANCE The Company’s philosophy on the code of Corporate Governance is: (i) to ensure that adequate control systems exist to enable the Board to effectively discharge its responsibilities to all the stakeholders of the Company; (ii) to ensure that the decision making process is systematic rational; (iii) to ensure full commitment of the Management to maximize of shareholders value; (iv) to ensure that the employees of the Company subscribe to the corporate values and apply them in their conduct. 2. BOARD OF DIRECTORS COMPOSITION AND CATEGORY The present strength of Board of Directors is 6 whose composition is given below :- - 1 Promoter, Executive Director - 1 Promoter, Non-executive Director - 4 Non-promoter, Independent, Non-executive Directors. The composition of Board of Directors and also number of other Board of Directors or Committees of the Board in which he is a member or Chairman are as under :- Name of Director Category of Directorship No. of Other No. of Other Directorships Committee of Board (other than Maharashtra Seamless Limited) Sh. D.P. Jindal Promoter, Non-executive 4 1 Chairman Sh. Saket Jindal Promoter, Executive 2 - Managing Director Sh. U.C. Agarwal Independent, Non-executive 1 1 Sh. D.K. Parikh Independent, Non-executive - - Sh. S.D. Sharma Independent, Non-executive - - Sh. H.K. Khanna Independent, Non-executive 2 2 ATTENDANCE OF DIRECTORS AT THE BOARD MEETINGS AND LAST ANNUAL GENERAL MEETING During the financial year ended 31st March, 2005, seven Board Meetings were held on 20th April, 2004, 27th May, 2004, 22nd July, 2004, 20th September, 2004, 26th October, 2004, 20th January, 2005 and 11th February, 2005. 15
Page 1 and 2: 17TH ANNUAL REPORT 2004-2005 Expand
Page 3 and 4: MAHARASHTRA SEAMLESS LIMITED CONTEN
Page 5 and 6: Chairman's Statement Dear Sharehold
Page 7 and 8: Message from the Managing Director
Page 9 and 10: MAHARASHTRA SEAMLESS LIMITED NOTICE
Page 11 and 12: MAHARASHTRA SEAMLESS LIMITED ANNEXU
Page 13 and 14: MAHARASHTRA SEAMLESS LIMITED DIVIDE
Page 15: MAHARASHTRA SEAMLESS LIMITED c) Imp
Page 19 and 20: MAHARASHTRA SEAMLESS LIMITED 4. REM
Page 21 and 22: MAHARASHTRA SEAMLESS LIMITED Stock
Page 23 and 24: AUDITORS’ CERTIFICATE To The Memb
Page 25 and 26: MAHARASHTRA SEAMLESS LIMITED FINANC
Page 27 and 28: AUDITORS’ REPORT To The Members o
Page 29 and 30: (b) According to the information an
Page 31 and 32: MAHARASHTRA SEAMLESS LIMITED PROFIT
Page 33 and 34: MAHARASHTRA SEAMLESS LIMITED SCHEDU
Page 41 and 42: MAHARASHTRA SEAMLESS LIMITED 8 Stoc
Page 43 and 44: MAHARASHTRA SEAMLESS LIMITED 14. In
Page 45 and 46: MAHARASHTRA SEAMLESS LIMITED IV. RA
Page 47 and 48: MAHARASHTRA SEAMLESS LIMITED Additi
Page 49 and 50: MAHARASHTRA SEAMLESS LIMITED CASH F

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