You are here » Home » Companies » Company Overview » India Motor Parts & Accessories Ltd

India Motor Parts & Accessories Ltd.

BSE: 590065 Sector: Auto
NSE: IMPAL ISIN Code: INE547E01014
BSE LIVE 15:29 | 22 Sep 795.15 -13.85
(-1.71%)
OPEN

800.00

HIGH

800.00

LOW

795.15

NSE 15:31 | 22 Sep 795.35 -5.80
(-0.72%)
OPEN

799.00

HIGH

808.60

LOW

795.00

OPEN 800.00
PREVIOUS CLOSE 809.00
VOLUME 341
52-Week high 950.00
52-Week low 720.00
P/E 24.68
Mkt Cap.(Rs cr) 662
Buy Price 795.15
Buy Qty 9.00
Sell Price 803.40
Sell Qty 5.00
OPEN 800.00
CLOSE 809.00
VOLUME 341
52-Week high 950.00
52-Week low 720.00
P/E 24.68
Mkt Cap.(Rs cr) 662
Buy Price 795.15
Buy Qty 9.00
Sell Price 803.40
Sell Qty 5.00

India Motor Parts & Accessories Ltd. (IMPAL) - Chairman Speech

Company chairman speech

INDIA MOTOR PARTS AND ACCESSORIES LIMITED ANNUAL REPORT 2010-2011 CHAIRMAN'S REPORT Ladies and Gentlemen, It gives me great pleasure to welcome you all to the 57th Annual General Meeting of your Company. The audited accounts of the Company for the year ended 31st March 2011 and the Directors' Report have already been circulated to you and with your permission, I shall take them as read. During the year under review, the Indian economy performed well and registered a strong GDP growth of 8.50%. The Auto Industry had a particularly good year, with the Medium & Heavy Commercial Vehicles growing at 32%. Light Commercial Vehicles grew by 23% and Multi Utility vehicles by 29%. However, in the current fiscal year 2011-12, the prospects for the automobile industry are not as bright as in the previous year. In the five months ending August 2011, Medium and Heavy Commercial Vehicles registered a growth of only 7.07%, whereas Passenger cars recorded a negative growth of -1.26%. These were low compared to last year. Sales in Light commercial vehicles have maintained their growth rate. WORKING RESULTS Your Company's sales turnover for the year ending March 2011 grew by 19.52% to Rs.427.99 crores from Rs.358.08 crores in the previous year. Profit before tax grew by 13.87% to Rs.41.54 crores from Rs.36.48 crores in the previous year. Profit after tax went up by 15% to Rs.28.52 crores from Rs.24.80 crores in the previous year. I am happy to inform you that your company has maintained a Compounded Annual Growth rate of 15.11% during the last 4 years on the sales front. Your company controlled costs to increase profitability. DIVIDEND Your Directors in May 2011 paid an interim dividend of 170% i.e. Rs.17/- per equity share of Rs.10/- each for the year 2010-11. The dividend, together with dividend tax of Rs.114.72 lakhs absorbs a sum of Rs.821.89 lakhs. The Board of Directors propose to treat the said interim dividend as the total dividend for the year. PROSPECTS The current fiscal year for your company has commenced on a positive note with a good increase in Turnover. Sales in the first five months of 2011-12 grew by 21% to Rs.206 crores from Rs.170 crores. The disturbance in the global financial markets and the associated sentiment has not so far affected our industry. With the increasing vehicle Park in India, we hope to achieve a satisfactory growth rate for the rest of this fiscal year. ACKNOWLEDGEMENTS On behalf of the Board of Directors and on my own behalf, I wish to thank all our suppliers, dealers and bankers for their continued support and co- operation. I also wish to place on record my sincere appreciation for the excellent contribution of all the staff and executives of the Company, which enabled your company to register a good performance during the year under review. SRI S. NARAYANAN CHAIRMAN September, 29, 2011 Source: Press Meeting.