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India Nippon Electricals Ltd.

BSE: 532240 Sector: Auto
NSE: INDNIPPON ISIN Code: INE092B01017
BSE LIVE 15:40 | 22 Aug 781.05 -5.20
(-0.66%)
OPEN

785.20

HIGH

795.00

LOW

774.00

NSE 15:48 | 22 Aug 775.35 -13.55
(-1.72%)
OPEN

790.00

HIGH

799.90

LOW

771.00

OPEN 785.20
PREVIOUS CLOSE 786.25
VOLUME 2810
52-Week high 835.00
52-Week low 386.15
P/E 22.33
Mkt Cap.(Rs cr) 883
Buy Price 0.00
Buy Qty 0.00
Sell Price 779.05
Sell Qty 6.00
OPEN 785.20
CLOSE 786.25
VOLUME 2810
52-Week high 835.00
52-Week low 386.15
P/E 22.33
Mkt Cap.(Rs cr) 883
Buy Price 0.00
Buy Qty 0.00
Sell Price 779.05
Sell Qty 6.00

India Nippon Electricals Ltd. (INDNIPPON) - Chairman Speech

Company chairman speech

1994 INDIA NIPPON ELECTRICALS LIMITED CHAIRMAN'S SPEECH TO THE SHAREHOLDERS It gives me great pleasure to welcome you all to the Ninth Annual General Meeting of your Company. The Company's Annual Report has been with you for sometime and with your permission, I shall take it as read. 1993-94 PERFORMANCE REVIEW Performance of your Company during the year under review was more than satisfactory considering the market conditions. The turnover increased by 27% with significant improvements to profitability. There was a general improvement in business conditions consequent to industries coming out of recession and the production of two wheelers went up around 17% over the previous year. Your Directors having considered the working results and more particularly the increase in profits of your company, are pleased to recommend a dividend of 30% for the year ended March '94 on the enhanced capital. The Government of India launched the liberalisation policy about three years ago and are pushing forward with determination to transform the economy from a controlled to a market oriented one. Underthis situation the competition levels are different and only the most efficient will survive. our Directors are aware of the new challenges arising out of this liberalisation and are taking necessary steps to meet them and convert them into opportunities. RESEARCH AND DEVELOPMENT As mentioned in the Director's report your company has been emphasising the development of inhouse Research & Development facilities and nearly 45% of the turnover of your company has been generated out of products substantially developed inhouse. You will also be happy to note that recognition has been received by your company for its inhouse R&D from the Department of Science and Technology, Government of India. However, being aware of the need to have continued access to international developments, the company has renewed its technical assistance agreement with M/s Kokusan Denki for a further period of eight years. PROSPECTS Buoyancy in the two wheeler industry is noticed and the demand for your company's products will continue to increase. It is expected that your company will do well in the ensuing year barring unforeseen circumstances. The sales In the first four months of the current financial year amount to Rs. 6.8 crores registering a growth of over 23% over the last year. You will also be pleased to note that your company has started exporting its products to yourcollaborators and efforts are being made to increase thls quantity. Your Directors are also happy to inform you that your company has been assigned FAAA' rating by CRISIL, the highest ranking a company can get for its financial strength . AGKNOWLEDGEMENT On behalf of my colleagues on the Board and on behalf of all of you. I wish to express sincere gratitude to M/s. Lucas Indian Servlce Ltd .and our technical collaborator M/s. Kokusan Denki Co Ltd. . Japan for their active involvement and support. I also wish to thank M/s . Bank of Baroda, ICICI, SIPCOT and all Government agencies who have extended their co-operation. I wish to take this opportunity to thank all the employees of the company for the excellent work done. Your Directors wish to thank all the customers and suppliers for their continued encouragement and support . With the patronage and encouragement from all of you, I feel confident that your company will be able to make steady proress. Thank you. T K BALAJI CHAIRMAN 25th August, 1994 Madras This does not purport to be a record of the proceedings of the Annual General Meeting...