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Amrit Corp Ltd.

BSE: 507525 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE866E01026
BSE 00:00 | 15 Nov 550.00 -27.50
(-4.76%)
OPEN

550.00

HIGH

550.00

LOW

550.00

NSE 05:30 | 01 Jan Amrit Corp Ltd
OPEN 550.00
PREVIOUS CLOSE 577.50
VOLUME 50
52-Week high 953.10
52-Week low 510.05
P/E 15.50
Mkt Cap.(Rs cr) 177
Buy Price 550.00
Buy Qty 25.00
Sell Price 599.00
Sell Qty 52.00
OPEN 550.00
CLOSE 577.50
VOLUME 50
52-Week high 953.10
52-Week low 510.05
P/E 15.50
Mkt Cap.(Rs cr) 177
Buy Price 550.00
Buy Qty 25.00
Sell Price 599.00
Sell Qty 52.00

Amrit Corp Ltd. (AMRITCORP) - Chairman Speech

Company chairman speech

AMRIT CORPORATION LIMITED (FORMERLY AMRIT BANASPATI COMPANY LIMITED) ANNUAL REPORT 2006-2007 CHAIRMAN'S REPORT Dear Shareholder(s), You are aware that Amrit Banaspati Company Limited had been engaged in four business activities, namely, edible oils & FMCG commodities, writing & printing paper, dairy milk & milk products and real estate. As a part of long term business planning, the management had been considering avenues for faster and more profitable growth. Business imperatives demand that we pay focused management attention and impart competitive strengths to each of our businesses from our core competence. We believe that all our businesses have considerable growth potential and we will continue to focus all our energies on these businesses thereby securing for our shareholders and other associates the fair rewards of the growth. To put the growth strategy in place, the management has restructured the businesses by segregation and consolidation under separate legal entities with a view to have focused management attention and leadership as each of the businesses have different business dynamics and growth drivers and require different strategies for growth. To achieve the restructuring objective, a Scheme of Arrangement between Amrit Banaspati Company Ltd. (name now changed to 'Amrit Corp. Limited') and ABC paper Ltd. and Amrit Enterprises Ltd. has been formulated which has been sanctioned by the hon'ble High Courts of Allahabad, Delhi & Chandigarh. In terms of the above Scheme, the paper business has been transferred to and vested in ABC Paper Ltd. and the edible oils & FMCG commodities business has been transferred to and vested in Amrit Enterprises Ltd. The residuary business, namely, dairy milk & milk products and real estate will continue to vest in Amrit Corp. All the three entities will be listed companies. As a part of the Scheme, the name of Amrit Enterprises Ltd. will be changed to 'Amrit Banaspati Company Ltd'. We believe that the above arrangement is both suitable and appropriate to all the businesses. The restructuring will lead to increasing the scale of operations and better utilization of common resources which, in turn, will enhance the overall shareholders' value. Post restructuring, all the companies will emerge stronger and more successful and all our shareholders and other associates will gain from the growth and prosperity emanating from the demerger & consolidation. Thanking you and with regards, Yours sincerely, N.K. BAJAJ Chairman & Managing Director