directors - Colombo Stock Exchange

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neTwork of BRANCHES, WORKSHOPS & SHOWROOMS 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 Branches, Workshops and Showrooms 1. TATA Light, Commercial Vehicle Showroom 61, Jethawana Road, Colombo 14. Telephone: 011-2449797 2. TATA Passenger Car Showroom & Workshop 467, Sirimavo Bandaranaike Mawatha, Colombo 14. Telephone: 011-4741570 3. Mercedes-Benz & Chrysler Showroom 378-385, R.A. De Mel Mawatha, Colombo 3. Telephone: 011-4527788 4. TATA Passenger Car Showroom 385A, R.A. De Mel Mawatha, Colombo 3. Telephone: 011-4527799 5. Siyambalape Complex 135, Mahena Road, Siyambalape, Biyagama. Telephone: 011-2400668 170 6. Kurunegala Branch 27A, Colombo Road, Malpitiya, Boyagane, Kurunegala. Telephone: 037-4697800 7. Dimo Mart 50, 51, Jethawana Road, Colombo 14. Telephone: 011-4606800 8. Matara Branch 401, Kumaratunga Munidasa Mawatha, Pamburana, Matara. Telephone: 041-4929378-9 9. Commercial & Heavy Machinery Workshop 562/126, D.S. Senanayake Mawatha, Anuradhapura. Telephone: 025-2223025 10. Dimo Logistics Centre Kirindiwela Road, Weliweriya. Telephone: 033-4674616 11. TATA Spare Parts Showroom 74, 74/1, Jethawana Road, Colombo 14. Telephone: 011-4602100 12. Kandy Branch 276 A, Katugasthota Road, Kandy. Telephone: 081-4940829 13. Jaffna Branch 214, Stanly Road, Jaffna. Telephone: 021-4590478 Display Points 14. TATA Vehicle Display Point 32, Aluthgama, Bogamuwa, Yakkala. Telephone: 033-4674404 15. TATA Vehicle Display Point 2H, New Road, Ambalangoda. Telephone: 091-4941158 ANNUAL REPORT 2009/10 DIESEL & MOTOR ENGINEERING PLC 16. TATA Vehicle Display Point 56, Bandarawatte, Hidellana, Ratnapura. Telephone: 045-4928620 17. TATA Vehicle Display Point 43, Jaffna Road, Vavuniya. Telephone: 024-4925009 18. TATA Vehicle Display Point 800, Dambulugama, Damulla. Telephone: 066-4928283 19. TATA Vehicle Display Point 345, Pallegama, Ratnapura Road, Embilipitiya. Telephone: 047-4931050 Notes to the Financial Statements 141 Ten year Summary 165 Share Information 166 Network of Branches, Workshops & Showrooms 170
DIESEL & MOTOR ENGINEERING PLC ANNUAL REPORT 2009/10 Diesel & Motor Engineering PLC (DIMO) is best known as the ‘Benz Company’. This nomenclature describes well the spirit of its undertaking - a commitment to excellence. Over the past seven decades it has strengthened this commitment and fulfilled its promise as a company that is reputed for its trustworthiness. In 1932, Mr. F.K.Heller, a well known German businessman set up his own business in Sri Lanka with the distributorship of several world renowned German brands such as Mercedes Benz, Bosch, Siemens etc., under the name of Heller & Company. Being a German, in 1939 when World War broke out, the business of Mr. Heller was acquired by the Government. The same year four unemployed youth Messrs Stephen Peries, Pandithage Don Alexander, Cyril Algama and Harold Algama from Heller & Company, got together and commenced a workshop at a rented premises off Prince of Wales Avenue with a few mechanics. This was the beginning of DIMO. The founding fathers of DIMO were humble, ethical and down to earth people with human values. The initial business was making gaskets and turning out parts thus catering to the high demand prevalent for reconditioning, as new part replacement was costly due to the war. As business expanded, DIMO diversified to sale of electrical parts, fittings for motor vehicles and engine parts etc. The four youth began humbly, but had great ambition to excel. Their vision was for DIMO to achieve the status of a world-class company in the products and services that it offered. Their vision remains undiluted even today, as the management of the Company has remained in the main in the hands of the founding families. The progeny have held true to the vision of the Company’s first owners, of a commitment to excellence and ethical business practices. In 1945 DIMO was incorporated as a Private Limited Liability Company. With the end of the 2nd World War, Mr. Heller was released and subsequently became a prominent industrialist in Germany. In 1949, Mr. Heller was an active partner of DIMO via Lohmann & Company Breman Germany. In order to expand the activities, the business was relocated to Jethawana Road, from where it still operates. In 1952, a showroom, stores and garage was opened for business. The first notable achievement for the Company came in 1959, when over 200 Mercedes Benz buses were supplied to the recently nationalised bus company. Historical Note 171 Key Principals 173 Country Report 175 Alphabetical Index 179 Glossary of Financial Terms 180 hISTorIcal NOTE 171
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Annual Report 2009/10 DIESEL & MOTO
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Vision To be the leader in all the
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Contents Overview Financial Highlig
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oVerView operational hIGhLIGhTS Har
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oVerView CHairMan & Ceo’s REvIEW
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oVerView 12 C H a i r M a n & Ceo
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Overview Board of DIRECTORS ANNUAL
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Overview Group ManaGeMent COMMITTEE
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ManageMent report Business PERFORMA
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ManageMent report The performance o
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ManageMent report Tata Commercial V
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ManageMent report We continue to ex
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ManageMent report A Year of Importa
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ManageMent report Performance Dimo
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ManageMent report The Business unit
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ManageMent report The division has
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ManageMent report FinanCial REvIEW
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ManageMent report Finance Expenses*
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ManageMent report Working Capital T
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ManageMent report Segment Performan
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goVernance report enterprise GOvERN
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goVernance report SECTION 1: THE CO
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goVernance report The Company Secre
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goVernance report The Committee con
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goVernance report RELATIONS WITH SH
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goVernance report e n t e r p r i s
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goVernance report CHairMan & Ceo’
Page 66 and 67: goVernance report Risk Management A
Page 68 and 69: goVernance report Industry Trends D
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Page 72 and 73: goVernance report group STRUCTURE 1
Page 74 and 75: FINANCIAL CALENDAR Interim Financia
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Page 80 and 81: statement oF diRectoRs’ RespoNsIb
Page 82 and 83: income stAteMeNts 136 Consolidated
Page 84 and 85: statements oF ChANGes IN eqUIty 138
Page 86 and 87: cash Flow statements Reconciliation
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Page 90 and 91: notes to the Financial statements T
Page 92 and 93: notes to the Financial statements A
Page 100 and 101: notes to the Financial statements N
Page 102 and 103: notes to the Financial statements T
Page 108 and 109: notes to the Financial statements F
Page 112 and 113: Share INFORMATION 1. Stock Exchange
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Page 118 and 119: h I STo r I c a l n oT e The key at
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Page 126 and 127: GloSSarY of FINANCIAL TERMS Account
Page 128 and 129: corporaTe INFORMATION Name of the C
Page 130 and 131: The creative approach we adopted fo
Page 132: f o r m o f p rox Y Instructions as
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