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Kalyanpur Cements Ltd.

BSE: 502150 Sector: Industrials
NSE: N.A. ISIN Code: INE991E01022
BSE LIVE 14:39 | 12 Sep Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 8.97
PREVIOUS CLOSE 9.44
VOLUME 200
52-Week high 9.45
52-Week low 8.97
P/E
Mkt Cap.(Rs cr) 29
Buy Price 0.00
Buy Qty 0.00
Sell Price 8.97
Sell Qty 100.00
OPEN 8.97
CLOSE 9.44
VOLUME 200
52-Week high 9.45
52-Week low 8.97
P/E
Mkt Cap.(Rs cr) 29
Buy Price 0.00
Buy Qty 0.00
Sell Price 8.97
Sell Qty 100.00

Kalyanpur Cements Ltd. (KALYANPURCEMENT) - Chairman Speech

Company chairman speech

1995 KARNATAKA STATE FINANCIAL CORPORATION CHAIRMAN'S REPORT It is my pleasure once again to meet you all. I welcome you to the 36th Annual General Meeting of your Corporation. I am happy to report that the Corporation has made a successful entry into new business areas covering merchant banking, hire purchase, corporate loans, bill discounting and deferred payment guarantee. Your Corporation has once again performed exceedingly well in surpassing targets in all key operation areas. MILESTONES Sanctions crossed the Rs. 500 crore mark in 1994-95, while disbursements crossed the Rs. 400 crore mark. The Corporation recovered Rs. 374.83 crores in 1994-95. The cumulative number of loans sanctioned crossed the one lakh level. In the rehabilitation of sick units the share of the Corporation is 45% of the number of units covered by all SFCs in the country. For three years in a row, the Corporation has been recognised by the IDBI as the preeminent SFC in the country in all operational areas. WORKING RESULTS During the year under review, the Corporation generated a gross revenue of Rs. 190.62 crores on cash basis as against Rs. 148.76 crores in 1993-94. The working of the Corporation in 1994-95 resulted in an operational profit of Rs. 36.06 crores before writeoff and taxes. OPERATIONAL HIGHLIGHTS The performance of the Corporation against targets set for 1994-95 is given below : (Rs. in crores) target achievement % of achievements over targets 1. Sanctions 398.50 520.18 130.53 2. Disbursements 353.50 432.09 122.23 3. Recovery 343.00 374.83 109.28 REHABILITATION OF SICK UNITS 61 units were provided rehabilitation assistance of Rs. 3.29 crores. With this, the total assistance since the inception of, the scheme touched Rs. 64.28 crores in 1462 cases. ASSISTANCE TO THE SMALL SCALE SCALE SECTOR Rs. 289.61 crores were sanctioned to 7839 cases during the year as com- pared to Rs. 208.16 crores last year. Cumulative assistance to SSls at the end of March 95 stood at Rs. 1607.99 crores in 67732 cases. Cumulative assistance under the Vishwa programme stood at Rs. 23.20 crores in 15,507 cases. EQUIPMENT LEASE FINANCE The Corporation sanctioned Rs. 11.88 crores in respect of 23 units as against Rs. 4.04 crores in the previous year. Disbursements amounted to Rs. 9.89 crores. (Rs. 2.00 crores in 1993-94) and recovery was 100%. HIRE PURCHASE In the first year itself sanctions under hire purchase came to Rs. 15.67 crores and disbursements to Rs. 9.87 crores. MERCHANT, BANKING AND FINANCIAL SERVICES Merchant banking activity was started in the second quarter of 1994-95 as envisaged in the corporate plan. Initially, 4 facilities like the preparation of projects and pre-issue appraisal reports, syndication of loans and the co-acceptance of bills of exchange was started. Later underwriting of public issues was taken up and firm allotments of high quality scrips picked up. Merger and amalgamation proposals were also undertaken. Bill discounting and deferred payment guarantees were added. KSFC's application for Category I merchant banking status was accepted by the SEBI without any conditions. Issue management activity has also commenced. Merchant banking activity generated an income of Rs. 703.02 lakhs. TREASURY FUNCTIONS AND MARKET-LINKED RESOURCE-RAISING During the year the Treasury department was carved out of the Finance and Accounts Department to monitor fund raising and manage resources and liquidity. Another pioneering effort was KSFCs entry (the first for any PSU in Karnataka) into the area of unguarateed bonds. A five year bond was structured for private placement at a highly competitive rate and Rs. 60.00 crores successfully mobilised. The medium and short maturity instruments were tailored to meet the requirements of short maturity outflows like bridge loans, corporate loans and NCDs and new business activities which are not covered by IDBI and SIDBI refinance. FUTURE OUTLOOK AND PROSPECTS After the extensive diversification successfully completed in 1994-95, the Corporation intends to further develop new activities as self-contained profit centres. It hopes to assume its rightful role as the promoter of industrial development in the small scale sector by entering into relationships with national and international investors. KSFC hopes to promote the improvement of services in areas where the small scale sector is expriencing a dire need like factoring and venture capital. Continuous improvement in appraisal and monitoring techniques to ensure upgradation of portfolio quality will also be a principal concern of the Corporation. The number of branch offices is expected to increase from 30 to 34 during 1995-96. There is also a proposal to enhance delegation of powers to branch offices to improve the spread and quality of services. The building for the corporate office has also been inaugurated and will be occupied in the course of the year, facilitating a better operational environment. Similarly, the office buildings in Hubli, Chitradurga and Raichur are expected to be ready by the end of the year. The plan for computerised networking of branch offices and bringing them on line is under implementation. With that, KSFC, would be the first SFC in the country to have advanced towards networking. ACKNOWLEDGEMENTS I wish to place on record my sincere thanks to the Governments of Karnataka, Departments of Finance and Industries and Commerce for their valuable co-operation and support. I am thankful to the Industrial Develop- ment Bank of India (IDBI) and the Small Industrial Development Bank of India (SIDBI) for their valuable guidance and needbased refinance. May I place on record the support and co-operation extended by the RBI, IRBI, KSIIDC, KSSIDC, DlCs, KEB, KIADB, LIC, UTI, Apex Bank, Canara Bank, State Bank of India Capital Markets, State Bank of Mysore and other commercial banks. I also wish to thank voluntary organisations like CII, FKCCI, KASSIA, AWAKE and others for their contribution to our devel- opmental activities. Finally, I take this opportunity to express my deep appreciation of the untiring efforts put in by Dr. Renuka Viswanathan, Managing Director and the officers and officials of the Corporation which has enabled the Corporation to continue to occupy the preeminent position among SFCs in the country. B. K. Bhattacharya Place : Bangalore Dated : 31st July 1995,