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Century Enka Ltd.

BSE: 500280 Sector: Industrials
NSE: CENTENKA ISIN Code: INE485A01015
BSE LIVE 15:40 | 22 Sep 317.80 -10.50
(-3.20%)
OPEN

327.30

HIGH

327.85

LOW

316.05

NSE 15:31 | 22 Sep 318.40 -9.65
(-2.94%)
OPEN

326.00

HIGH

328.15

LOW

317.05

OPEN 327.30
PREVIOUS CLOSE 328.30
VOLUME 4374
52-Week high 454.00
52-Week low 250.50
P/E 8.25
Mkt Cap.(Rs cr) 694
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 327.30
CLOSE 328.30
VOLUME 4374
52-Week high 454.00
52-Week low 250.50
P/E 8.25
Mkt Cap.(Rs cr) 694
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Century Enka Ltd. (CENTENKA) - Chairman Speech

Company chairman speech

Dear shareholders the passage of constitutional amendment paved the way forintroduction of gst and is expected to have positive impact on organized sector and theindian economy as a whole. With gDp growth projection of 7.4% for the year 2017-18 thereis good prospects for economic growth. your Company witnessed optimum utilization ofexisting capacities in the year 2016-17. profit has been good despite pressure onmargins on the back of inventory gains due to steep rise in Caprolactam prices. theprices are now on declining trend and thus the year 2017-18 could witness reversal ofinventory gains. in the long run stable Caprolactam prices would auger well for thebusiness. nylon tyre cord demand is expected to remain stagnant or witness marginaldecline. your company is therefore evaluating diversification into polyester tyre cord andother reinforcement materials for tyre as a future growth plan. it is a matter ofsatisfaction that your company has been able to maintain its leadership in nylon yarn fortextiles and will further consolidate its position. Last year the Company had declared adividend at the rate of 75% (which included a special dividend at the rate of 15% tocommemorate our golden jubilee). for this ye.ar we have proposed a dividend at the rateof 70%. i would like to add that since the Company is in a commodity business it is ofutmost importance to have a strong balance sheet to withstand price volatility andminimising dependence on borrowings. i should assure the shareholders that a stabledividend policy is our goal and commitment.iwouldliketoextendmygratitudetoallourstakeholders including shareholders customerslenders and our loyal hard working and committed employees for their continued supportand faith in the Company.

B.K. Birla
Chairman