29 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: T he Company focused its R&D efforts on developing continuous processes with a smaller plant and a better environmental footprint, developing new products, making value-added products from waste and improving existing processes. ii) Benefits derived from R&D: T he Company increased the yield of 29 products, decreased the consumption of raw materials in five products and solvents in three products, recovered one value-added product from waste and developed 43 new products. iii) Future plan: T he 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 1.99 31.22 33.21 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 83 countries, directly and through its subsidiary companies in the USA, the UK, the UAE, China and Brazil. Sales outside India* increased by 3% from ` 2,254 cr to ` 2,315 cr. It 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 2022-23 2021-22 Earnings Exports – FOB value 2,314.82 2,254.15 Dividends 15.58 - Outgo Payment for raw materials, books and periodicals, dividend, etc 917.61 1,005.35
RkJQdWJsaXNoZXIy MjA2MDI2