Introduction

Nissan Copper Ltd. was established during 1989 with an objective to

manufacture Copper Tubes. The company started its first copper pipe unit at
Umergaon in September, 1991. As on date, Nissan is manufacturing copper
rods/Section/flats, Copper Ingots/Billets Bars, Copper Wire Bars, Copper
Strips and Copper Pipes catering to FMCG, OEMs and construction
industry. In short, as on date, Nissan has complete plant to manufacture
tubes starting from melting of scrap/Cathod. These copper components are
mainly used in switchgears/panels, radiators, refrigeration, electric
appliances, connectors, heat exchangers etc.

Nissan's high standard quality products have enabled it to accredit the ISO
9001:2000. The company is supplying its products for the projects of well
known companies in the Air conditioning and Refrigeration, Engineering &
Gas Application industry and few of them are Eletrotherm India Ltd., Blue
Star Ltd., Voltas Ltd., Siemens Ltd., Hindustan Copper Ltd., Nutech
Construction Pvt. Ltd. Etc. Over a period of 16 years, Nissan has established
its reputation and reliability in the market. With long experience and
accumulated technology, Nissan ensures, all the products of the company
confirms with all the major specification and customer requirements.
(ASTM, DIN, BS, JIS, IS).
 Various types of products

1) Copper tubes for refrigerator and air conditioner

2) High quality copper tubes
3) Copper tubes for general engineering purpose
4) High conductivity copper rodes
5) 70/30 cupro nickel tubes
6) 63/37 brass tubes
7) 70/30 brass tubes
8) Admirately brass tubes
9) Aluminium brass tubes
1) Copper tubes for refrigerator and air conditioner

These are mainly used for the refrigerator and air conditioner

2) High quality copper tubes

These are mainly used for

1) Gas Heaters And Hydraulic Lines & Oil Burners
2) Hollow ( round, square, rectanglular and eliptical) Electrical
Conductors in High voltage instalation, induction furnaces etc.
 3) Copper tubes for general engineering purpose

• As per B.S. 2871 Part 2/72 C106

near Equivalent specification I.S. 2501/77 DHP

These are mainly used for

Condensers, Evaporaters, Oil Burner Tubing, Steam, Water, Air and

Hydraulic lines, Automobiles Plumbing, Chemicals And Fertilizers, Thermal
Power plant, Petrochemical and Oil Refinery.

• As per B.S. 2871 Part 2/72 C107 near Equivalent specification I.S.
2501/77 DHA

These are mainly used for

Heat Exchanger Tubes, Brewery Tubes, Gas lines, Vapour Lines, Sanitation
Lines, Locomotive Tubes
 4) High conductivity copper rodes

• As per B.S. 2874/69 C10 near Equivalent specification I.S. 613/64

These are mainly used for,

Electrical Conductors, Switches, Terminals, Radiators, Cotter Pins, Nails
Rivets, etc. requiring high electrical and thermal conductivity

As per B.S. 2874/69 C106 near Equivalent specification

(I.S. 4171/67) Phosphorus deoxidized non arsenical Copper

These are mainly used for,

Household and General Purposes
5) 70/30 Cupro Nickel Tubes

CHARACTERISTICS :

A Copper Nickel alloy having small amount of iron and manganese to

improve corrosion resistance in high velocity (from 1 to about 4 mtrs/sec. )
waters, including sea water. The alloy is relatively insensitive to stress
corrosion. It has good cold and hot working properties and is readily
weldable.

Sea Water:

a) Dissolved salts from 10000 ppm.

b) Absence of abrasive suspended solids.

c) Polluted with H2S and Ammonia.

Permissible average velocity of water 3 – 4 meters/sec

These are mainly used for,

High Capacity Power plant, Ship Building & Ship repairs, Heat Exchangers
and Condensers, Distiller Tubes, Evaporaters
90/10 Cupro Nickel Tubes

This alloy has very high erosion and corrosion resistance. It has very high
weldability, easy for installation and high anti fouling properties against sea
microorganisms. Relatively high iron content provides better impingement
attack resistance. The alloy is unique to stress corrosion cracking.

Sea Water:

a) Dissolved salts more than from 1500 to 3000 ppm.

b) Suspended solids more than 25 ppm.

c) H2S or Ammonia is less than 1 ppm.

Permissible average velocity of water 2.5 – 2.7 meters/sec.

These are mainly used for,

Heat Exchanger, Application, Power Plants, Refineries,Desalination Plants,
Condensers, Ship Building & Ship Repairs, Offshore Oil Rigs, Car Braking
Systems etc.

6) Others products were,

63/37 Brass Tubes

70/30 Brass Tubes
Admiralty Brass Tubes
Aluminium Brass Tubes
Billets
 Main points to work out:

• TEAMWORK - Together We Achieve More

• Work Culture:

The work culture at NCL is based on the fundamental belief that employees
are its most important asset. NCL is co-creating a culture that offers the
freedom to operate & handle challenging assignments without fear. The
Respect and genuine concern for each employee in the organization is the
basic principle on which the organization functions. We believe that by
giving mutual respect, recognition, trust, open communication, transparency
and opportunities for growth, our employees will perform to their optimum
potential and will be sincere, dedicated & committed to their jobs.

At Nissan, we are trying to harness the potential of employees to the fullest

extent so that they become Super Excellent Employees and give Superlative
Performance.
 DIRECTORS’ REPORT

• REVIEW OF OPERATIONS:

Inspite of adverse Market Condition, your Company could maintain the

Sales Turnover of Rs.14489.16 Lacs as compared to Rs.14138.12 Lacs
during the preceding year, registering a growth of over 2%.The Profit after
taxation has gone down to 213.44 as compared to 941.70 registering a
downfall of over 12.47%, during the preceding year, because of inventory
losses & increase in financial charges on the borrowings of the company.

The Company has undertaken the modernization cum expansion plan of

approximately 120 Crores. The existing plant situated at Umbergaon &
Silvassa have performed satisfactorily during the year and plant at Silvassa
continue to be eligible for tax holidays pursuant to section 80 IB of the
Income Tax Act, 1956.

The operation of the Company is carried in a single segment i.e.

manufacturing and marketing of Copper Products .

• DIVIDEND:

Your Directors are pleased to recommend a dividend at 5% (Rs. 0.50 per

equity share of Rs. 10/- each) for the financial year ended 31st March 2009.

The total cash outflow on account of equity dividend payments including

distribution tax will be Rs. 85.15 Lacs (Previous year Rs. 85.15 Lacs).

• INCREASE IN AUTHORIZED CAPITAL:

The shareholders of the Company, in the extra-ordinary general meeting

held on 14th May 2009, have increased the authorized share capital from
Rs.25 crores to Rs.40 crores.

• PREFERENTIAL ISSUE:

To meet the capital expenditure your Company came out with the
preferential allotment of 70,00,000 (Seventy Lacs) equity share warrants
during the year. However due to sudden collapse in the stock market &
decrease in the Companies share prices, the independent investors &
promoters preferred to surrender their warrant entitlement.
Accordingly the Company forfeited the equity share warrants & the entire
amount paid on application was credited to the Securities Premium Account
and General Reserve as per the applicable Accounting Standards.

Subsequently on 14th May 2009 the Company issued 2,33,00,000 (Two

Crores and Thirty Three Lacs) fresh equity share warrants of Rs.10/-(Rupees
Ten) each at a premium of Rs.4/- (Rupees Four Only) each per share
warrant to the Promoters and independent investors as per the SEBI
(Disclosure & Investor Protection) Guidelines, 2000.

• DIRECTORS:

The Board of a Company provides leadership and strategic guidance,

objective judgment independent of management to the Company and
exercise control over the Company, while remaining at all times accountable
to the shareholders.

In accordance with the Provision of the Companies Act, 1956 and the
Articles of Association of the Company, Mr. Shailesh Shah & Mr. Atul
Mardia retire by rotation at the ensuing Annual General Meeting and being
eligible, have offered themselves for re-appointment.

Mr. Sunil Ghorawat, Director, resigned from the Directorship on 2nd March
2009.

Mr. Nitin Mehta, aged 46 Years, has been appointed as Additional Director
of the Company and is looking after sales promotion and day to day
activities. He has pursued his Textile Engineering & got associated with
Mahalaxmi Textile Industries, as Partner & has an experience of 22 years.
The Board recommends his appointment as Director of the Company.

• CORPORATE GOVERNANCE:

Your Company has complied with the mandatory provisions of on corporate

governance pursuant to clause 49 of the listing agreement with the stock
exchanges, and a separate report on the same including the shareholders
information and auditors’ certificate on its compliance, forms a part of this
Annual Report.

• INSURANCE:

All the assets of the Company wherever necessary and to the extent required
have been insured.