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Dharamsi Morarji Chemicals Co Ltd.

BSE: 506405 Sector: Agri and agri inputs
NSE: DHARAMORAR ISIN Code: INE505A01010
BSE LIVE 15:40 | 21 Sep 128.40 3.70
(2.97%)
OPEN

125.00

HIGH

128.90

LOW

123.10

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 125.00
PREVIOUS CLOSE 124.70
VOLUME 7854
52-Week high 148.00
52-Week low 67.60
P/E 21.65
Mkt Cap.(Rs cr) 281
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 125.00
CLOSE 124.70
VOLUME 7854
52-Week high 148.00
52-Week low 67.60
P/E 21.65
Mkt Cap.(Rs cr) 281
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dharamsi Morarji Chemicals Co Ltd. (DHARAMORAR) - Chairman Speech

Company chairman speech

ANNUAL REPORT 2000-2001 THE DHARAMSI MORARJI CHEMICAL CO., LTD. REGD. OFFICE PROSPECT CHAMBERS, 317 /21, DR. D. N. ROAD, MUMBAI - 400 001. INDIA CHAIRMAN'S SPEECH Excerpts from the speech delivered by Mr. R.M. Goculdas, the Chairman of the Dharamsi Morarji Chemical Co. Ltd., Mumbai, at the 81st Annual General Meeting of he Shareholders of Company held on September 19, 2001 at MC Ghia Hall, Mumbai 400 001. Mumbai, 20th September 2001 _ The Dharamsi Morarji Chemical Co. Ltd. is making an offer of 67,63,437 equity shares of Rs. 10/- each for cash at par, aggregating to Rs. 6,76,34,370/- to the existing, equity shareholders, in the ratio of one equity for every two equity shares held as on September 19th, 2001 (i.e. the record date). The object of the issue is to augment the long-term financial resources of the company, to meet the general corporate purpose including the working capital requirements and to repay a part of the Unsecured Loans of the company. The rights issue is scheduled to open on 28th September, 2001 and close on 29th october, 2001. The present Rights Issue is made by DMCC pursuant to the Resolutions passed by the shareholders at the Extra ordinary General Meeting held earlier this year. Addressing to the share-holders at the eighty-first AGM of the members of the company held in Mumbai Mr. R. M. Goculdas - Chairman of the Dharamsi Morarji Chemical Co. Ltd. (DMCC) -Said" Your company is gearing up to the challenges offered by the economic reforms and deregulation process by understanding and responding to consumer needs; improving customer service; adopting the best practices; investing in quality, Research and Development, improving supply chain and actively pursuing new growth opportunities including strategic alliances. The company has chalked out and is implementing a rationalization and restructuring plan which includes cost-effectiveness measures in order to improve its competitiveness and performance in the future years. The turnover of the company for the year ended 31 March 2001 was Rs 245.79 crores with a profit after taxation of Rs.159'01 lakhs. The export turnover for the year 2000-01 was Rs 16.01 crores. During the year 2000-2001, the speciality chemicals business of DMCC performed well with a 7% increase in turnover and the company is focusing on speciality chemicals with value- added products; market expansion by finding new applications for existing products and development of new products based on its strong in-house R & D. Some examples are pharmaceutical intermediates, formulated descalants for on-line cleaning of power plants and speciality additives for leather and wool dyeing. The online descalants for power plant condensers will help in increasing power generation and this business is expected to grow in the coming year. The capacity of Absolute Alcohol plant is being increased with new technology to enable production of eco- friendly additive for petrol and explore markets for speciality alcohols. The Dharamsi Morarji Chemicals Co. Ltd., is one of the largest manufactures of Single Super Phosphate (SSP) in the country and owns the highly popular" SHIP: brand which is marketed through a wide network spread over eight states. The company has multi-state plant locational advantages as its plants are operational at Ambernath & Roha in Maharashtra, Kumhari in Chattisgarh, Jhar & Vadodara units in Gujarat and Khemli in Rajasthan. Its Research & Development Division and major plants are accredited by Bureau Veritas Quality International for ISO 9000. The company has recently been awarded CHEMEXIL Exports Performance Awards for two consecutive years viz. 1998-99 and 1999-2000. The company has also extended its "SHIP" brand, which is very popular among farmers, to market other agri-inputs like micro-nutrients and organic manures. The initial response from the market has been encouraging and further growth in this activity is expected. For further information: Mr. Ashwin Kotian IPAN Public Relations 9 1 -22-284 1 7X 1 akotian@ipan.com