It gives me immense pleasure to write to you at the end of year about the growth &progress of your Company throughout FY 2016-17.
Your Company Ganesh Benzoplast Ltd reported a net profit of Rs. 148.89 Millions(Before Exceptional items) & net revenue of Rs. 1181.15 Millions during the year2016-17. Last year net profit was Rs. 122.56 Millions (Before Exceptional items) & netrevenue was Rs. 1194.31 Millions.
During the year the Company had expanded its storage capacity at JNPT & Cochinterminals the impact of which on revenue generation of the Company will be reflected inthe coming quarters of financial is further expected to generate good revenue from the LSTdivision with its maximum capacity utilization & reduction in the finance cost. alsoplanning to set up a LPG terminal at its GOA facility.
Further the Company is planning to segregate both the divisions of the Company eitherby Demerger or Slump Sale as decided by the Board in its Meeting held on August 18 2017.As both the divisions has totally different synergies & to ensure greater focus to theoperation of each of the divisions & to enhance profitability & generate maximumshareholder value it will be more beneficial for the Company to segregate its both thedivisions.
Under Chemical division also to improve the revenue & profits the Company is inprocess of expanding its product base & increasing the capacity utilization of plantsupgradation of manufacturing facility & adding some more products with greater margins& high demand in chemical segment.
I would like to thank all our customers employees suppliers bankers Portauthorities & statutory bodies who are directly & indirectly associated with theCompany for their support & commitment. I would like to thank our shareholders fortheir trust & encouragement & assure to serve strong profitable& sustainablegrowth.
With Warm regards
Chairman & Managing Director