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65'*1ANNUAL REPORT

2011-2012

THETRAVANCORE CEMENTS LTD.


(AN IS/ISO 9001: 2008 COMPANY)
NATTAKOM, KOTTAYAM - 686 013, KERALA

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65 ANNUAL REPORT

2011-2012
THE TRAVANCORE CEMENTS LTD.
(AN IS/ISO 9001: 2008 COMPANY)
NATTAKOM. KOTTAYAM - 686 013. KERALA

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THE TRAVANCORE CEMENTS LTD.


NATTAKOM, KOTTAYAM-13

BOARD OF DIRECTORS

1. Sri. Antony Raj uEx-MLA,


Chairman-TCL,
Lourde Ann, Apartment 6C,
Cordial Corona,
Nanthancode, KaudiarP.O.,
TRIVANDRUM - 695 003.
Ph: 0471-2723391 (R)
Mob: 9446090902

2.

Sri.P. Rajendra Kumar


Managing Director,
The Travancore Cements Ltd.,
Nattakom, KOTTAYAM.
Ph: 0481 -2362920 (O)
Mob: 9539750878

3. Sri. Abbey Paul,


Director-TCL,
Additional Secretary,
Industries Department,
Government of Kerala,
Secretariat,
TRIVANDRUM.
Mob: 8606380895

4.

Smt. M. Ragini,
Director-TCL,
Deputy Secretary,
Finance Department,
Govt, of Kerala, Secretariat,
TRIVANDRUM.
Mob: 9544370938
Off: 0471-251835

5. Sri. Chakkeeri A bdul Haque,


Director-TCL,
Chakkeeri H ouse,
C herur P.O.,
MALAPPURAM - 676 304.
Mob: 9744995500
Res : 0494-2451223

6.

Sri.Naseer Ismail,
Director-TCL,
B unglow Param bil,
V engara,V elanilam P.O.,
MUNDAKAYAM - 686 514
Mob: 9446524673

7. Sri. Pazhakulam Sivadas,


Director-TCL,
Thadathil,
M elood P.O.,
ADOOR - 691 523.
Mob: 9447097701

8.

Sri.Manarkad Kuriakose,
Director-TCL,
V attam alapparam bil,
M anarkad P.O.,
KOTTAYAM - 686 019.
Mob: 8547824526

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THE TRAVANCORE CEMENTS LTD.


NATTAKOM, KOTTAYAM-13

9. Sri. V.P. Ib rah im K utty,


Director-TCL,
V asique,
Custom s Road/
P.O. K oyilandy Bazar,
KOZHIKODE - 673 620.KOLLAM.
Mob: 9446646299

10. Sri. Ravi M ynagappally,


Director-TCL,
K inaruvilaP uthenveedu,
T hottum ugham P.O.,
M ynagappally,
Mob: 9447280767

11. Sri. V.V. Venugopalan,


Director-TCL,
VelureValappil House,
J.N. Road,
Perinthalmanna,
MALAPPURAM - 679 322.
Mob: 9847013922

12. Sri. V.K. Raju,


Director-TCL,
T.C.27/2353, Kailasom,
Thumbara Lane,
G.P.O.,
TRIVANDRUM.
Mob: 9447761744

STATUTORY AUDITORS
M/s. Ananthan & Sundaram,
Chartered Accountants,
Thiruvananthapuram.

COMPANY SECRETARY
SAJI A. J.

BANKERS
State Bank of Travancore
State Bank of India
Oriental Bank of Commerce

REGISTERED OFFICE & FACTORY


Nattakom, Kottayam, Kerala. Pin - 686 013.
Ph: (0481)2361371,2361372
Fax:0481-2362354,
e-m ail: info@ travcem ent.com

website: www.travcement.com

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THE TRAVANCORE CEMENTS LTD.


NATTAKOM, KOTTAYAM-13

THE TRAVANCORE CEMENTS LTD.


(Registered Office: NATTAKOM, KOTTAYAM-6 8 6 013)

ADJOURNED 65ANNUAL GENERAL MEETING


NOTICE TO SHAREHOLDERS
Notice is hereby given that the adjourned 65thAnnual General Meeting of THE TRAVANCORE CEMENTS
LTD., will be held at the Registered Office of the Company at Nattakom, Kottayam, on Monday, 05,hMay
2014 at 11.00 a.m. to transact the following business deferred at the 65thAnnual General Meeting held on
21st December 2012.

Ordinary Business
1.

To receive, consider and adopt the Directors Report and the Audited Statements of Accounts
for the year ended 31st March 2012 with the reports of the Auditors and Accountant General
(E&RSA), Kerala, thereon.

All Shareholders are requested to be present in person or by proxy.

BY ORDER OF THE BOARD,


FOR THE TRAVANCORE CEMENTS LIMITED

(Sd/-)
SAJI A.J.
COMPANY SECRETARY.

Registered Office:
Nattakom,
Kottayam - 686 013, Kerala.
Dated: 20th March 2014

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THE TRAVANCORE CEMENTS LTD.


NATTAKOM, KOTTAYAM-13

Notes:

a) A member entitled to attend and vote is entitled to appoint a proxy to attend and vote instead of
himself and the proxy need not be a member of the Company. The instrument appointing a proxy
and the authority if any under which such instrument is executed must be lodged at the Companys
Registered Office at least 48 hours before the time fixed for the meeting.

b) The 65thAnnual General Meeting of the Company was held on 21.12.2012. This meeting was
adj oumed sine die as the accounts for the year ended 31st March 2012 were not ready. Subsequently,
the Statutory Audit as well as the supplementary audit by C&AG of the accounts of the Company
for the year ended 31st March 2012were completed. Comments of C&AG of India and Comments
of the Secretary, Finance (Expenditure), Government of Kerala, on the accounts of the Company
for the year 2011-2012 with Companys replies to the comments of the Secretary, Finance
(Expenditure), Government of Kerala, is given in this Annual Report. The business to be transacted
at the adjourned Annual General Meeting was deferred at the AGM on 21.12.2012.

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THE TRAVANCORE CEMENTS LTD.


NATTAKOM, KOTTAYAM-13

DIRECTORS REPORT
Your Directors have pleasure in presenting their 65thAnnual Report together with Audited Statement of
Accounts for the year ended 31st March 2012.

1. Financial Results
(Rs. in lakhs)
Sales net of Central Excise & VAT
Income from other sources
Extra Ordinary Income

Profit before depreciation and Exceptional


Items/Provisions
Depreciation
Profit after depreciation
Less: Exceptional/Provisions
i) Provision for past accrued gratuity
ii) Provision for sales tax demands
iii) TOTAL
Profit/Loss
Loss carried forward from previous year
Balance (Loss) carried forward to balance sheet

2011-2012

2010-2011

2391.14
153.29
0.00

1904.16
384.73
0.00

2544.43

2288.89

(844.68)
26.90
(871.58)
0.00
0.00
0.00
871.58
(571.57)
(1443.15)

(19.63)
31.39
(51.02)
0.00
0.00
0.00
(51.02)
(520.55)
(571.57)

2.

Dividend.
Your Directors have decided to pass over dividend for the year 2011 -2012 (previous year - Nil) in
the absence of profit during the year 2011 -2012.

3.

Turnover and Profit/Loss.


The turnover of the Company has increased to Rs.2391.14 lakh from Rs. 1904.16 lakh in the previous
year. However there is a decrease of Rs.231.44 lakh in the income from other sources. Net loss of the
Company for the year increased from Rs.51.02 lakh to Rs.871.58 lakh.

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------------------------------------------------------------------------------------------------------------------- THE TRAVANCORE CEMENTS LTD. --NATTAKOM, KOTTAYAM-13

4.

Production and Despatch.


The shell production, clinker production, and cement production and cement despatch during the last
three years were as follows
Sl.No.

5.

Item

2011-2012

2010-2011

MTs

MTs

2009-2010
MTs

Shell

14975

13795

16885

Clinker

13515

16191

14368

White Cement

16263

14695

18662

White Cement Despatch

16648

14194

19299

Mining of Lime Shell.


Company have 2 set of dredger and screening plant. One set is operating near TV Puram area at
Vaikom and other one is idling at factory for repairs. The receipt of lime shell from this area is not
sufficient to meet the daily requirement of 150 MT of the Company. With the available lime shell, we
were able to take below 50% of the total production capacity. Dredging of lime shell, the main raw
material required for production of White Cement, continues to be a major problem area threatening
the very survival of the Company. Company have other lease hold area of 4.5 Ha at Perumbalam
village in CherthalaTaluk where the Company could not start dredging operation due to stiff resistance
of the local community.

6.

Diversification activities/ Projects.

i)

Dredging and Environmental Rejuvenation of AkkulamLake.


Company has got nearly more than 60 years of experience in dredging activities. Considering this,
Irrigation Department of Government of Kerala has awarded the work of Dredging and Environmental
Rejuvenation of Akkulam lake at a total cost of Rs. 16.99Crores to our Company (TCL) in association
with Kerala State Maritime Development Corporation Limited (KSMDCL). Work on this project
has already been started and is in progress.

ii) Side Protection and beautification of Akkulam Lake.


The work of side protection and beautification of Akkulam Lake was awarded to Kerala State Inland
Navigation Corporation (KSINC). Since their performance was not satisfactory, Government terminated
their contract and awarded the same at a total cost of Rs. 12.35 Crores to our Company (TCL) in
association with Kerala State Maritime Development Corporation Limited (KSMDCL). Work on
this project has already been started and is in progress.
iii) Deepening of PuthurKayal in Trissur District.
Company has got order from Industries Department, Government of Kerala for the above work vide
GO. (Ms) No.53/2011/ID dated 24/02/2011. Many discussions had with authorities of Puthur
Panchayath. Yet to receive resolution for the same from Panchayath.
iv) Desiltation of Lower Periyar Reservoir.
Company has got order from Industries & Power (B) Department, Government of Kerala for the
above work vide GO. (Rt) No. 276/2010/ID dated 20/12/2010 and GO.(Rt) No.46/2011/ID dated
7
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THE TRAVANCORE CEMENTS LTD.


NATTAKOM, KOTTAYAM-13

21/02/2011. In the order, it is mentioned that sufficient capital for the work will be provided by Government.
Yet to receive the same from the Government for start of work.
7. DirectorsResponsibility Statement.
Pursuant to the provisions of Section 217 (2AA) of the Companies Act, 1956, your Directors confirm
that:
a.

in the preparation of annual accounts, the applicable accounting standards have been followed;

b.

accounting policies were applied consistently and the judgments and estimates made, are reasonable
and prudent so as to give a true and fair view of the affairs of the Company as at March 31,2012, and
of the profit or loss of the Company for the period;

c.

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 for preventing and detecting
fraud and other irregularities have been taken;

d. the annual accounts have been prepared on a going concern basis.


8. Audit/Auditors.
Under Section 619 of the Companies Act, 1956, the Comptroller & Auditor General of India appointed
M/s. Ananthan&Sundaram, Chartered Accountants, Thiruvananthapuram, to audit the accounts of
the Company for the period ended 31st March 2012. Their report on the accounts is annexed.
The Supplementary Audit under Section 619 (3) & (4) of the Companies Act, 1956 was conducted by
the Accountant General (E&RSA), Kerala. NIL Comments Report of the Comptroller and Auditor
General of India under Section 619 (4) of the Companies Act 1956, on the accounts of the Company
for the year ended 31st March 2012 is annexed.
9. Cost Audit.
Pursuant to the directions of the Central Government under Section 23 3B of the Companies Act, 1956,
M/s. Sukumaran& Co., Cost Accountants, Trivandrum, were appointed as Cost Auditors to conduct
the cost audit of the White Cement Division of the Company for the year ended 3 1st March 2011.
However, the Cost Audit could not be done due to non finalisation of annual accounts. M/s. Sukumaran&
Co., as Cost Auditors has been re-appointed to conduct the audit.
10. Particulars of Employees.
The Company does not have any employee who was in receipt of or entitled to receive emoluments
coming within the purview of Section 217 (2A) of the Companies Act, 1956, read with the Companies
(Particulars of Employees) Rules 1975.
11. Particulars of Conservation of Energy, Technology Absorption and F oreign Exchange Earning
and Outgo.
As required under Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure
of particulars in Report of Board of Directors) Rules 1988, the particulars in respect of Conservation of
Energy and Technology Absorption are set out in the Annexure forming part of this report.
Foreign Exchange Eamings:Rs. Nil.
Foreign Exchange Outgo: Rs.Nil.
8
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THE TRAVANCORE CEMENTS LTD.


NATTAKOM. KOTTAYAM-13

12. Human Resources and Industrial Relations.


Revision of wages of Cement Wage Board covered Employees was due as on 1.4.2010. Revision of
salary of employees in Managerial Category was due on 1.7.2009. Salary/Wage revision has not
been made due to financial constraints. Even the previous wage revision which was due from April
2004 and January 2003 was implemented with effect from 1.2.2011 only due to financial constraints.
Industrial relations in the Company continuous to be cordial harmonious.
13. Acknowledgement.
Directors wish to thank the Government of Kerala for continued guidance and support. The Directors
also wish to thank all the Banks, Stockists and Consumers for their valued co-operation. The Directors
also wish to thank all the employees of the Company for their co-operation and sincere and hard work
put in by them.

ON BEHALF OF THE BOARD OF DIRECTORS

(Sd/-)
ANTONY RAJU
Chairman.

Registered Office,
Nattakom,
Kottayam -686013.
Kerala.
Dated: 20th March 2014

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