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Birla Power Solutions Ltd.

BSE: 517001 Sector: Engineering
NSE: BIRLAPOWER ISIN Code: INE224B01024
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE LIVE 00:00 | 09 Dec Stock Is Not Traded.
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Birla Power Solutions Ltd. (BIRLAPOWER) - Chairman Speech

Company chairman speech

ANNUAL REPORT 2000-2001 BIRLA YAMAHA LIMITED CHAIRMAN'S SPEECH CHAIRMAN'S SPEECH AT THE 16TH ANNUAL GENERAL MEETING LADIES AND GENTLEMEN, 1. I feel honoured to welcome you all at the Sixteenth Annual General Meeting of the Company. 2. The Directors' Report and Audited Accounts of the Company for the year ended 31st March, 2001 have already been circulated and with your permission, I shall take them as read. 3. The Year 2000-2001 was in many ways a pack of challenges particularly in consumer durables sector. Through effective cost control coupled with a high level of productivity and quality assurance, the Company is able to sustain itself despite recessinary trend. During the year, your Company has achieved a profit before tax of Rs. 772.67 lacs. The sales for the year totaling to 41907 Nos. as against 37985 Nos. of previous year. Despite stagnant domestic market, sales volume registered an increase of 10% over the corresponding figure of last year. 4. Your Directors are pleased to recommend a dividend of 12% on the Equity Shares of the Company for the year ended 31st March, 2001 as against 11% for the previous year. 5. The total sales for the first 5 months of the current financial year was 19585 Nos. as against 17673 Nos. of previous year's corresponding period. Showing an increase of 11% over the last year. We expect this trend to continue for the later part of the year. 6. The Unit set up at Paonta Sahib (Himachal Pradesh) has also started functioning at a higher level resulting in higher level o flexibility in operations and thereby improving the bottom line. 7. During the year, drastic measures have been taken to reduce the outstanding by formulating and offering various Schemes to dealers. This has resulted in substantial reduction in Sundry Debtors. During the year, the Company has also been discharged from its liability towards Unsecured loans and has been repaid in full the foreign currency Collaborator, M/s Yamaha Motor Co. Ltd, Japan. 8. I am glad to inform you that after the successful implementation of ISO -9002, Your Company has successfully achieved the esteemed ISO- 14001 certification. This will certainly help the Company to enhance the Corporate image in domestic as well as in international market. 9. We at Birla Yamaha Limited, give due importance to Corporate Governance by operating your Company in a transparent manner so as to enhance and maximise the long term value to all of you, our precious shareholders. Decision making is not restricted to the Board room only, it percolates all through the organisation. In order to facilitate functioning of the Board and provide effective supervision, the Company has constituted different Committees like Audit Committee, Share Transfer Committee Share Transfer Committee, Shareholders/ Investors grievance Committee, Purchase Committee etc. 10. Your Company while infusing its commercial goals has also considered its responsibilities towards the society. These responsibilities are never discounted and command a premium in the Company's objectives. In its commitment towards social responsibility, the Company had successfully achieved the conformity of exhaust Pollution norms released by CPCB. This will help the Company to provide more power and better quality and technologically upgraded product to the customer at the same cost. The company has also successfully intracted with CPCB regarding the management of noise norms. All this has resulted in enormous saving in foreign exchange. 11. In the era of Information Technology, we have taken good advantage of ERP system from BAAN, internet and e-mail facilities. This has not only helped in getting the prompt information by overcoming communication barriers but has also resulted in cost reduction in courier, telephone, fax, stationary and the most precious element i.e. time. 12. I would like to express my gratitude to the various Government Agencies, Banks and Financial Institutions for the Co-operation and assistance extended by them to the Company. I Would like to place on record my gratitude to our Collaborator and Partner M/s Yamaha Motor Co Ltd., Japan for its guidance and support extended from time to time. 13. I wish to thank my colleagues on the Board for their guidance and Co- operation and express my appreciation for the sincere and dedicated efforts put in by the workmen, staff and executives of the Company. 13. I wish to thank my colleagues on the Board for their guidance and co- Operation and express my appreciation for the sincere and dedicated efforts put in by the workmen. Staff and executives of the Company. I wish to extend, on behalf of the Board and myself, sincere thanks to all our customers, dealers and vendors. I Would also like to express my deep gratitude for the continuous support received by the Company from the Shareholders and also wish all our Shareholders and Stakeholders continued growth and prosperity from their association with Birla Yamaha Limited. Thank You,

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