It gives me great pleasure to share with you an update on the overall performance ofyour Company. In a challenging external environment your Company performed well anddelivered another year of profit. Simultaneously we recognized the need for responsiblegrowth and focused on creating greener and more efficient manufacturing with cleanerfuels more efficient energy consumption and lesser generation of waste.
Our agrochemicals industry will play a pivotal role in driving food security for Indiawhich is on its way to replace China as the world's most populous country. With dwindlingland under cultivation and an alarmingly lower portion of that under irrigation the needto increase farm productivity with efficient use of plant nutrients and protection ispressing. Educating our farmers on modern agronomic practices and empowering them witheffective and affordable crop protection and nutrition solutions is the need of the hour.Also the focus must be on increasing availability of high quality products and restrictthe production and sale of spurious chemicals. There is also a growing need to increaseinvestment in R&D to develop products that will enhance the farms productivity.
I am glad to inform you that your Company continues to perform well on a sustainedbasis. Your Company achieved a turnover of Rs 61219 Lacs registering an increase of about35.41% over previous year turnover of Rs 45211 Lacs and earned a Profit before Tax (PBT)of Rs 8370 Lacs and Profit after Tax (PAT) of Rs 5444 Lacs.
Considering the consistent profits being made by the Company your Directors haverecommended a dividend of Rs1.50 (i.e. 15%) per equity share for the financial year2016-17.
Before I conclude I would like to place on record my appreciation to all my colleagueson the Board past and present for their valuable contribution in the growth of theCompany. Finally I would like to thank you our valued shareholders for your unwaveringsupport in our journey to deliver value to all our stakeholders.
Thank you ladies and gentlemen.
SAT NARAIN GUPTA
Chairman & Managing Director