Annual Report FY 2010-11 - Pipavav Shipyard
Annual Report FY 2010-11 - Pipavav Shipyard
Annual Report FY 2010-11 - Pipavav Shipyard
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<strong>Annual</strong> <strong>Report</strong> <strong>2010</strong>-<strong>11</strong><br />
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opportunities to in all 33 female employees including 20 ex-ITI female students. This initiative of the Company has<br />
been well received by the local authorities and communities.<br />
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of Government of Gujarat for providing quality education to girl children.<br />
Infrastructure Development<br />
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solar panel lights for households in nearby villages, etc.<br />
Safe Drinking Water<br />
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solving water problems of neighbouring villages, development of infrastructure for supply of safe drinking water and<br />
has installed Water Purifiers.<br />
8. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings & Outgo<br />
Your Company strives to make the project sites as energy efficient as possible and continually reviews various schemes<br />
to conserve energy. The information required to be disclosed under Section 217(1)(e) of the Act read with the Companies<br />
(Disclosure of Particulars in the <strong>Report</strong> of Board of Directors) Rules, 1988, with regard to conservation of energy, technology<br />
absorption and foreign exchange earnings and outgo is set out in Annexure “A” and forms part hereof.<br />
Information required to be furnished in Form A is not applicable to the Company as your Company belongs to ship building<br />
industry.<br />
9. Management Discussion and Analysis <strong>Report</strong><br />
The Management Discussion and Analysis <strong>Report</strong> is prepared in accordance with the requirements of Clause 49 of the<br />
Listing Agreement entered into with the Stock Exchanges, is given in Annexure – “B” and forms part of this <strong>Annual</strong> <strong>Report</strong>.<br />
10. Corporate Governance <strong>Report</strong><br />
Corporate Governance <strong>Report</strong> along with the Auditors’ Certificate confirming compliance with the conditions of Corporate<br />
Governance is enclosed as Annexure –“C”, forming part of this <strong>Report</strong>.<br />
<strong>11</strong>. Investor Relations<br />
Your Company continues to provide prompt investor service through quick resolution of investor grievances. Your Company<br />
has designated an exclusive e-mail ID viz. company.secretary@pipavavshipyard.com, to enable the investors to post<br />
their grievance and the Company to monitor its redressal.<br />
The securities of your Company are listed at National Stock Exchange of India Limited and Bombay Stock Exchange<br />
Limited. The Company has paid annual listing fees to these Stock Exchanges for the financial year 20<strong>11</strong>-12.<br />
The members are requested to refer to general shareholders’ information given in Corporate Governance <strong>Report</strong> appended<br />
to this report.<br />
12. Fixed Deposits<br />
Your Company has not accepted any public deposits within the meaning of the provisions of Section 58A of the Act read<br />
with the Companies (Acceptance of Deposits) Rules, 1975. Therefore, no amount on account of principal or interest on<br />
public deposits was outstanding as on the date of the Balance Sheet.<br />
13. Personnel<br />
A statement containing prescribed details of employees, required to be provided under Section 217(2A) of the Act read<br />
with the Companies (Particulars of Employees) Rules, 1975, forms part of this <strong>Report</strong>. However, in terms of provisions of<br />
Section 219(1)(b)(iv) of the Act, the <strong>Report</strong> and Accounts are being sent to all the shareholders excluding the aforesaid<br />
statement. Any shareholder interested in obtaining a copy of this statement may write to the Company Secretary for the<br />
same at the Corporate Office of the Company.<br />
14. Directors<br />
The Board has six non-executive directors and one Executive Vice-Chairman. In accordance with the provisions of the<br />
Act and the Articles of Association of the Company, Mr. Nikhil Gandhi and Mr. R. M. Premkumar retire by rotation at<br />
the forthcoming <strong>Annual</strong> General Meeting and being eligible, offer themselves for re-appointment. The Board commends<br />
re-appointment of Mr. Nikhil Gandhi and Mr. R. M. Premkumar.<br />
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The details of the directors being recommended for re-appointment are provided in the Notice of ensuing <strong>Annual</strong> General<br />
Meeting.<br />
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