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Astec Lifesciences Ltd.

BSE: 533138 Sector: Agri and agri inputs
NSE: ASTEC ISIN Code: INE563J01010
BSE LIVE 19:40 | 19 Oct 574.15 4.10
(0.72%)
OPEN

578.25

HIGH

578.25

LOW

571.05

NSE 19:42 | 19 Oct 572.75 4.10
(0.72%)
OPEN

571.00

HIGH

577.00

LOW

570.25

OPEN 578.25
PREVIOUS CLOSE 570.05
VOLUME 7599
52-Week high 694.80
52-Week low 442.00
P/E 42.50
Mkt Cap.(Rs cr) 1,121
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 578.25
CLOSE 570.05
VOLUME 7599
52-Week high 694.80
52-Week low 442.00
P/E 42.50
Mkt Cap.(Rs cr) 1,121
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Astec Lifesciences Ltd. (ASTEC) - Chairman Speech

Company chairman speech

I am pleased to inform you that your Company’s performance has significantlyimproved over the previous year. Sales grew by 36.55% from Rs 22190.14 Lakh to Rs30301.34 Lakh while Profit After Tax grew by 5296.89% from Rs 35.38 Lakh to Rs 1909.42Lakh. This was achieved in spite of reduced selling prices which negatively impacted thetopline.

The improved performance was due to better plant utilization and debottlenecking whichenabled us to meet the increased demand for our products. Significant reductions wereeffected in operating costs and borrowing cost.

The outlook for the current year is bright and we expect to further improve ourperformance. Our order books are healthy. We expect that some of the projects undertakenduring the year will come on line which will further improve performance. These includethe introduction of new products backward integration and efficiency improvements.

Our Environment Health & Safety (EHS) performance has continued to be good. Wecrossed 3 million hours worked without lost time injury. One of our sites operates on azero discharge basis and we have made significant improvements in controlling thegeneration of wastes. We have been audited by multinationals and the results are veryencouraging. Our ‘Responsible Care’ initiatives are yielding good results.

Our integration with Godrej is going well and many processes have been strengthened. Wehave successfully implemented the SAP ERP system and Human Resource (HR) functions haveimproved. Our Research & Development (R&D) facilities at Dombivli have expandedand this will result in increased development capabilities.

Our Corporate Social Responsibility (CSR) activities continue satisfactorily and wehave completed some projects in the areas of drinking water supply sanitation andeducation.

Finally I would like to express my sincere appreciation to all our employees fortheir contribution towards the performance of the Company. I also appreciate the supportreceived from our customers suppliers various government departments and gratefullyacknowledge the continuous support of all our Shareholders.