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Andrew Yule & Company Ltd.

BSE: 526173 Sector: Others
NSE: ANDREWYULE ISIN Code: INE449C01025
BSE 00:00 | 14 Nov 15.30 -0.40
(-2.55%)
OPEN

15.65

HIGH

15.85

LOW

15.00

NSE 05:30 | 01 Jan Andrew Yule & Company Ltd
OPEN 15.65
PREVIOUS CLOSE 15.70
VOLUME 27127
52-Week high 24.60
52-Week low 10.41
P/E 63.75
Mkt Cap.(Rs cr) 748
Buy Price 15.20
Buy Qty 200.00
Sell Price 15.40
Sell Qty 300.00
OPEN 15.65
CLOSE 15.70
VOLUME 27127
52-Week high 24.60
52-Week low 10.41
P/E 63.75
Mkt Cap.(Rs cr) 748
Buy Price 15.20
Buy Qty 200.00
Sell Price 15.40
Sell Qty 300.00

Andrew Yule & Company Ltd. (ANDREWYULE) - Chairman Speech

Company chairman speech

Dear Shareholders

As the Chairman & Managing Director of your Company I feel extremely privilegedand delighted in interacting with you on the occasion of 70th Annual General Meeting andpresenting Annual Report of your Company for the financial year 2017-18

As you know India's economy returned to growth path in financial year 2017-18 as theGross Domestic Product growth was 6.7% annually with a strong 7.7% growth in DebasisJana the last quarter of the year. With this and the strong growth projected for thecurrent Chairman & Managing Director year also there will be growing opportunities inpower generation distribution and transmission equipment. Though the development in Steeland Power sectors remained sluggish growth in the Petrochemical & Fertilizer sectorhold hope for improving order booking for engineering business in the current year. TheTea division of your Company continues to grow from strength to strength through itsspecial emphasis on Quality of its produce and is now recognized as one of the "TopQuality Tea Producer" in the industry.

Your Company has earned total revenue of Rs.389.13 crores as against Rs.468.78 croresin 2016-17 registering a decrease of 17% YOY. Profit before Tax (PBT) during thefinancial year 2017-18 stood atRs.23.57 crores as compared to Rs.38.50 crores for theprevious financial year. But since the previous year's PBT was inclusive of one-time landacquisition compensation of Rs.18.40 crores from NHAI and Tea Board subsidy of Rs.2.14crores profit from actual business has increased in 2017-18 despite fall in sales ofelectrical and engineering products tea crop loss and revenue loss due to DarjeelingBandh. Profit after Tax (PAT) for the financial year 2017-18 stood atRs.17.12 crores ascompared to Rs.32.60 crores during the previous financial year.

AYCL is a dividend paying Company. I am pleased to inform that the Board of Director'sof your Company has recommended a Final Dividend of Re.0.04 per Equity Share of face valueof Rs.2.00 each for the financial year ended 31st March 2018.

Your Company always strives to attain highest level of Corporate Governance practices.Implementation of Integrity Pact adoption of code of conduct and a well- defined InternalControl Framework add to the transparency of the Company's business practices. AYCL iscomplying with the Government Guidelines and listing regulations on Corporate Governance.However filing up of vacant posts of Director which is one of the requirements ofCorporate Governance is under process at Government level. A report on CorporateGovernance compliance has been made part of the Board's Report. Your Company has beengetting "Excellent" rating from Department of Public Enterprises(DPE) forcomplying with various norms of Corporate Governance. I am sure that the trend willcontinue.

Being a good corporate citizen AYCL has always been on the forefront in extending itsassistance for upliftment of the less privileged class of the society through developmentand improvement of the quality of life with our limited resources. AYCL has undertaken anumber of CSR initiatives in the area of health education sanitation water supplyfacilities providing vocational training to children with disability etc.

I am pleased to inform that in North Indian Batting Order(Ranking) being a prime"Quality" parameter all Assam and Dooars Tea gardens of your Company are withinTop 29 ranking during the financial year 2017-18 which emphasizes continuous improvementin the batting order/ ranking. All gardens of the group are now having FSSAI License tooperate and manufacture tea. With better fieldpractices and major emphasis on Crop &Quality the Tea Division of your Company will continue maintaining its profitability inthe near future.

I have no doubt whatsoever that we will make a whole-hearted effort to walk thatextra mile to ensure that the Company continues to prosper in the years to come.

I would like to take this opportunity to gratefully acknowledge the valuable guidancesupport and cooperation received from the Department of Heavy Industry Ministry of HeavyIndustries & Public Enterprises Government of India as well as from other Ministriesof the Central and State Governments our valued customers Company's bankers suppliersstaff- workers etc. At the same time I wish to acknowledge the valuable guidance given bythe Board of Directors of the Company without which it would have not been possible tolead the Company in definite direction. I look forward to continued support and commitmentfrom all stakeholders of the Company to reach new heights and enhancing stakeholders'value.

Debasis Jana

Chairman & Managing Director