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Andhra Petrochemicals Ltd.

BSE: 500012 Sector: Industrials
NSE: ANDHRAPET ISIN Code: INE714B01016
BSE 00:00 | 23 May 54.80 -1.05
(-1.88%)
OPEN

57.30

HIGH

57.50

LOW

54.60

NSE 05:30 | 01 Jan Andhra Petrochemicals Ltd
OPEN 57.30
PREVIOUS CLOSE 55.85
VOLUME 44031
52-Week high 77.90
52-Week low 22.90
P/E 13.63
Mkt Cap.(Rs cr) 466
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 57.30
CLOSE 55.85
VOLUME 44031
52-Week high 77.90
52-Week low 22.90
P/E 13.63
Mkt Cap.(Rs cr) 466
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Andhra Petrochemicals Ltd. (ANDHRAPET) - Director Report

Company director report

Dear Shareholders

Your Directors have pleasure in presenting the Thirty Third Annual Report of theCompany together with the Audited Accounts for the year ended 31st March 2017.

CORPORATE OVERVIEW:

Your Company is the sole manufacturer of Oxo-Alcohols in India. The Oxo-Alcoholsconsist of the products viz. 2 Ethyl Hexanol Normal Butanol and Iso Butanol. YourCompany is an associate of The Andhra Sugars Ltd. and has its Regd. Office atVenkatarayapuram Tanuku.

FINANCIAL RESULTS:

Performance of the Company for the Financial Year ended 31st March 2017 is summarisedbelow:

(Rs. in Lakhs)

2016-17 2015-16
Net Sales (excl. Excise Duty) 32889.89 33408.75
Profit / (Loss) before Interest & Depreciation 1486.90 (1001.73)
Less: Interest 1558.07 1337.70
Depreciation 903.61 985.75
Profit / (Loss) after Interest and Depreciation before Extra-ordinary item (974.78) (3325.18)
Exceptional items (115.69) 694.75
Profit / (Loss) before Tax (1090.47) (2630.43)
Provision for:
Current Tax for earlier years -- 2.15
Deferred Tax (354.39) (264.66)
Profit / (Loss) after Taxation (736.08) (2367.92)
Other Comprehensive Income 350.44 (618.15)
Total Comprehensive Income for the period (Net Loss) (385.59) (2986.07)
Balance brought forward from previous year 299.77 3285.84
Profit carried forward to next year (85.82) 299.97

OPERATIONAL AND FINANCIAL PERFORMANCE:

During the Financial Year 2016-17 the Plant produced 60021 MTs (previous year 57348MTs) total Alcohols which works out to 83% (approx.) capacity utilization. Sales duringthe year were 58254 MTs (previous year 57245 MTs). Company had incurred a Net Loss ofRs.3.86 crores during the current Financial Year 2016-17 as compared to Rs.29.86 croresNet Loss incurred during the previous year. Details are given in Audited unqualifiedFinancial Statements forming part of this Report.

DIVIDEND:

Due to loss incurred during the year under report your Directors are unable torecommend any dividend for the Financial Year 2016-17.

CAPITAL & RESERVES:

Authorised and Paid-up Capital:

The Authorised Capital of the Company is Rs.125 crores and the Paid-up Capital isRs.84.97 crores.

Reserves:

The total Reserves position as on 31.3.2017 stood at Rs.28.50 crores against Rs. 32.36crores in the previous year.