31 Corporate Overview 01 - 23 Statutory Reports 24 - 109 Financial Statements 110 - 263 1.2. Technology absorption 1.2.1. Research and development i) Specific areas in which research and development (R&D) was carried out by the Company: The Company focused its R&D efforts on process improvement of existing products, recovery of products from waste, and development of new products and formulations. ii) Benefits derived from R&D: The Company increased yield of six products, decreased consumption of raw materials and solvents in eight products, recovered two value added products from waste and introduced 24 new products in the market. iii) Future plan: The Company is investing further in people and equipment so as to strengthen its R&D and thereby enhance its capability. iv) R&D expenditure (` cr) Capital Recurring Total Total R&D expenditure as a percentage of total sales 3.38 29.01 32.39 0.66% 1.2.2. Technology absorption, adaptation and innovation i) Efforts in brief made towards technology absorption, adaptation and innovation: The Company upgraded some of its operations by imbibing new technologies. ii) Benefits derived as a result of the above efforts: The above efforts have resulted in decrease in time cycle and increase in throughput. iii) Technology imported during the last three years reckoned from the beginning of the financial year: The Company did not import any technology. 1.3. Foreign exchange earnings and outgo 1.3.1. Export sales: activities, development initiatives and future plans The Company sold its products in 75 countries, directly and through its subsidiary companies in the USA, the UK, the UAE, China and Brazil. Sales outside India* increased by 47% from ` 1,535 cr to ` 2,254 cr. The Company is taking further steps to strengthen its sales and marketing. *Free On Board (FOB) value 1.3.2. Total foreign exchange earnings and outgo (` cr) Particulars 2021-22 2020-21 Earnings Exports – FOB value 2,254.15 1,534.61 Others including dividends - - Outgo Payment for raw materials, books and periodicals, dividend, etc 1,005.35 549.12
RkJQdWJsaXNoZXIy MjA2MDI2