@varadharajan
Partially about high margin, nothing per se mentioned in AGM expect of superior input mix in favour of low cost polyester replacing high cost nylone, some light is thrown in page 10 of Annual report FY15. In point (iii) about R&D, the company did covered about high speed muller machines. I enclosing link of annual report
http://www.premcoglobal.com/reports/PREMCO-GLOBAL-LTD-ANNUAL-REPORT-2015.pdf
Relevant extract is as under
(iii) in case of imported technology (imported during the last three years reckoned from the beginning
of the financial year)-
(a) The details of technology imported High speed Muller machines – This is the best technology available for weaving elastic tapes. The company has imported 2 Muller machines which can weave wider width tapes replacing old looms. The company had also imported higher hook J/Q machines to weave wider J/Q designs where the market is improving. These J/Q s will manufacture mostly high value added items.
(b) Above said Technology was imported during the current financial year ie. 2014-2015.
(c) whether the technology been fully absorbed Technology has been fully absorbed and company has replaced “rubber warp beam system” with individual package system resulting in higher utilization of covering machines. Also the machines were modified in house to give a bigger package (2kg instead of 1 kg) reducing wastages in warping and increasing the productivity in covering. The company has replaced one rubber warping machine with a high speed machine which runs at almost double the speed which has resulted in reduction in employment and The company has also started replacing 6 head looms with 10 head looms resulting higher productivity / Production value.
Also, export realisation are better for the company as compared with domestic realisation + export benefits. Hence, we shall also compared extent of exports between competitor (mostly comparable being SPICA).
@saras
The first in note partially provide management view point on qualification which should not have taken place at the first place. But that was explanation, CFO provided in AGM. Upto each of us, how we interpret that.
The CS is now appointed. You are correct that one CS left in 8 days as mentioned in AR. Personally, I may contribute it to be not comfortable with new role and set-up. The New CS HARSHA KAUR AJIT SINGH HOTSINGHANI has joined from June 22, 2015 and currently continue to be with the company which is more than 2 months so to say 
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