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Sadhana Nitro Chem Ltd.

BSE: 506642 Sector: Industrials
NSE: N.A. ISIN Code: INE888C01016
BSE LIVE 11:18 | 21 Sep 71.00 -1.30
(-1.80%)
OPEN

79.00

HIGH

79.00

LOW

70.50

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 79.00
PREVIOUS CLOSE 72.30
VOLUME 903
52-Week high 83.50
52-Week low 20.00
P/E 25.63
Mkt Cap.(Rs cr) 65
Buy Price 71.00
Buy Qty 50.00
Sell Price 72.90
Sell Qty 49.00
OPEN 79.00
CLOSE 72.30
VOLUME 903
52-Week high 83.50
52-Week low 20.00
P/E 25.63
Mkt Cap.(Rs cr) 65
Buy Price 71.00
Buy Qty 50.00
Sell Price 72.90
Sell Qty 49.00

Sadhana Nitro Chem Ltd. (SADHANANITRO) - Chairman Speech

Company chairman speech

Annual Report 1999-2000 SADHANA NITRO CHEM LIMITED Chairman's Statement Ladies & Gentlemen, I am glad to welcome you all at the 27th Annual General Meeting of your company. The Directors' Report and the Audited Annual Account for the year 1999-2000 are already with you for quite sometime and with your permission, I, take the same as read. Uncertain market conditions and high degree of competition has exerted tremendous pressure on the chemical industry and your company also has its share. The turnover of your company during 1999-2000 was Rs.3407 lacs as against Rs.3443 lacs in the Previous Year. In the year under review, the growth of the company was hard hit on two counts, firstly there has been decline in sales and secondly there has been ongoing price erosion. Due to sluggish market, your company has to absorb the cost escalation due to increase in price of several raw materials and general inflation. The marketing thrust to push the share of high value added product in the overall turnover resulted in change in product mix favourably. Intense commitment and untiring efforts in improving the productivity and efficiency at all levels alongwith stringent cost control on overheads has contributed in partially offsetting the adverse impact of above factors. The new activities in the field of Information Technology such as designing of websites, hiring out space for websites and providing various E-Commerce related services are in the development stage it will require efforts and gestation time before it starts contributing. The profit after tax for the year under review was at Rs.186.74 lacs (Previous Year Rs. 153.82 lacs). Your company was able to maintain its operating performance in the wake of various adversities. Your directors have announced an interim dividend of Rs. 2.50 per equity share which has already been paid to the members on 20th April, 2000. It is recommended to consider the said interim dividend as final dividend for the year 1999-2000. Quality is no more an issue pertaining to,technical department. It embraces in its fold the total organisation system. You will be glad to know that the practices and procedures adopted by your company enabled it to achieve ISO-9002 Quality System Certification from Bureau of Indian Standards. I am sure you all will join me in congratulating the employees at all levels whose dedicated and sincere efforts were core to this achievement. Your company has already taken appropriate strategic steps for re- organising and restructuring its operations for deriving benefits of synergy and optimum utilisation. You will be glad to note that the R & D Laboratory of your company has been strengthened further with the addition of highly sophisticated imported equipments. It is also heartening to note that a well equipped analytical laboratory has been set up at factory. Your company has identified and developed, in its own R&D processes for several new chemical intermediates for its future diversification. Under a chalked out project implementation programme your company has successfully commercialised the first phase of the project. The negotiations for sales tie up are in progress with foreign parties. The restructuring on its completion, will result in the benefits in form of optimum utilisation of capacities and cutting down some of the operating costs. Besides it will open avenues of growth by creating infrastructures which can be used as multipurpose plant for manufacturing several high value chemical intermediates having applications in agrochemicals, pharmaceuticals and plastic additives. This will provide inherent strength and foundation for future growth. The turnover of your company during the first four months of the current year has been at Rs.1130 lacs compared to Rs.1353 lacs in the Previous Year. I am quite sure that your company will continue its efforts in aiming at improving the overall performance and consequently the shareholders value. I on behalf of myself and other directors on the Board, wish to thank you all for the trust and confidence reposed in us and for sparing your valuable time in participating in the meeting. Thanking you, Mumbai D.T. Javeri Date: 30th August, 2000 Chairman