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Punjab Chemicals & Crop Protection Ltd.

BSE: 506618 Sector: Industrials
NSE: PUNJABCHEM ISIN Code: INE277B01014
BSE LIVE 15:40 | 16 Aug 355.25 2.00
(0.57%)
OPEN

351.25

HIGH

360.00

LOW

350.00

NSE 15:50 | 16 Aug 355.45 3.50
(0.99%)
OPEN

351.95

HIGH

360.00

LOW

350.00

OPEN 351.25
PREVIOUS CLOSE 353.25
VOLUME 1284
52-Week high 387.50
52-Week low 160.00
P/E 204.17
Mkt Cap.(Rs cr) 436
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 351.25
CLOSE 353.25
VOLUME 1284
52-Week high 387.50
52-Week low 160.00
P/E 204.17
Mkt Cap.(Rs cr) 436
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Punjab Chemicals & Crop Protection Ltd. (PUNJABCHEM) - Chairman Speech

Company chairman speech

Dear Shareholders

Greetings !

It is a pleasure to communicate with you rst time through this column as the Chairmanof the Company. I have had a long prior association of more than thirty years with theCompany as a Director and have witnessed its ups and downs. It is an honour showered on meand the con dence of the Directors that they have chosen me to take up thisresponsibility. At the outset I would like to express sincere regards and appreciation onbehalf of the Board to Shri G. Narayana immediate past Chairman who made an invaluablecontribution in steering the Company from a dif cult situation with his vision andguidance. We wish him best of health and success in his new and dedicated role ineducation and serving the people and the society. I would also like to mention that aspromised by him in his address last year he is always available for guidance andsuggestions on any matter relating to the welfare and wellbeing of the Company.

As you are aware that economic environment in the recent year has been challenging withuncertainties. The weak growth and divergent monetary and economic policies slowdown inchina and commodity prices posed new challenges to the country industry and the commonpeople. The efforts taken by the Government at various levels kept the wheels of thecountry's economy rolling. However it was interesting to note that effect of theaforesaid challenges remained industry or business speci c. The result of the actions andpolicies of the Government will be seen in the coming years.

As you are aware Company's operations are mainly focused on Agrochemicals and otherchemicals. The overall growth of the Company therefore depends upon the growth of theagrochemical sector. As per various international reports the future trend ofagrochemical market is positive as the consumption of agrochemicals is going to increaseby the farmers for more per hectare production. As per one of the studies agro chemicalmarket is expected to grow with a compound annual growth rate of 3.9% by the year 2021.Your Company also expects to grow with the sector barring unforeseen circumstances.

On Company's speci c situation I would like to reiterate that Company has passedthrough various challenges successfully after it suffered major setback few years ago. Wehave disposed off our non-core assets / businesses to reduce debt continued production inthe plants with limited working capital and have been able to keep the morale of theemployees high. The con dence of employees in the management its philosophy and theirbelongingness towards the Company were the key factors to run the show and bring theCompany out of the dif cult situation. The Company was able to repay the overdue debts andinterest. The Company has ful lled the conditions of One Time Settlement (OTS) proposal ofdebts with State Bank of India the impact of which has been taken in the nancials of theyear under review.

However presently the Company is facing challenges in one of the overseas subsidiaryin Argentina because of grave economic conditions in that country. Our team is puttingall efforts to control the situation and explore various options to overcome thesituation.

It is a matter of satisfaction that now Indian operations are absolutely smooth and arein order. I am con dent that the steps taken and projected growth in the agrochemicalsector should bring the Company back into track of generating good returns in the nearfuture.

Dear Shareholders I on behalf of the Board and the Management would like toappreciate the efforts of Shri Shalil Shroff Managing Director and his team to bring backthe Company to a stable position. Now we are committed to grow from here.

To conclude I would like to express deep sense of appreciation to all rank ofemployees for their understanding and whole hearted support to the management of theCompany. My sincere appreciation and thanks to all the stakeholders viz. Banks SuppliersCustomers who have given support to the Company to stage a comeback.

Last but not the least sincere thanks to all of you (the shareholders) for keepingfaith in the Board of Directors and the management in their policies and efforts.

With best wishes

Mukesh D Patel

30th May 2016