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ANNUAL REPORT 2000-2001
BIRLA YAMAHA LIMITED
CHAIRMAN'S SPEECH
CHAIRMAN'S SPEECH AT THE 16TH ANNUAL GENERAL MEETING
LADIES AND GENTLEMEN,
1. I feel honoured to welcome you all at the Sixteenth Annual General
Meeting of the Company.
2. The Directors' Report and Audited Accounts of the Company for the year
ended 31st March, 2001 have already been circulated and with your
permission, I shall take them as read.
3. The Year 2000-2001 was in many ways a pack of challenges particularly in
consumer durables sector. Through effective cost control coupled with a
high level of productivity and quality assurance, the Company is able to
sustain itself despite recessinary trend. During the year, your Company has
achieved a profit before tax of Rs. 772.67 lacs. The sales for the year
totaling to 41907 Nos. as against 37985 Nos. of previous year. Despite
stagnant domestic market, sales volume registered an increase of 10% over
the corresponding figure of last year.
4. Your Directors are pleased to recommend a dividend of 12% on the Equity
Shares of the Company for the year ended 31st March, 2001 as against 11%
for the previous year.
5. The total sales for the first 5 months of the current financial year was
19585 Nos. as against 17673 Nos. of previous year's corresponding period.
Showing an increase of 11% over the last year. We expect this trend to
continue for the later part of the year.
6. The Unit set up at Paonta Sahib (Himachal Pradesh) has also started
functioning at a higher level resulting in higher level o flexibility in
operations and thereby improving the bottom line.
7. During the year, drastic measures have been taken to reduce the
outstanding by formulating and offering various Schemes to dealers. This
has resulted in substantial reduction in Sundry Debtors. During the year,
the Company has also been discharged from its liability towards Unsecured
loans and has been repaid in full the foreign currency Collaborator, M/s
Yamaha Motor Co. Ltd, Japan.
8. I am glad to inform you that after the successful implementation of ISO
-9002, Your Company has successfully achieved the esteemed ISO- 14001
certification. This will certainly help the Company to enhance the
Corporate image in domestic as well as in international market.
9. We at Birla Yamaha Limited, give due importance to Corporate Governance
by operating your Company in a transparent manner so as to enhance and
maximise the long term value to all of you, our precious shareholders.
Decision making is not restricted to the Board room only, it percolates all
through the organisation. In order to facilitate functioning of the Board
and provide effective supervision, the Company has constituted different
Committees like Audit Committee, Share Transfer Committee Share Transfer
Committee, Shareholders/ Investors grievance Committee, Purchase Committee
etc.
10. Your Company while infusing its commercial goals has also considered
its responsibilities towards the society. These responsibilities are never
discounted and command a premium in the Company's objectives. In its
commitment towards social responsibility, the Company had successfully
achieved the conformity of exhaust Pollution norms released by CPCB. This
will help the Company to provide more power and better quality and
technologically upgraded product to the customer at the same cost. The
company has also successfully intracted with CPCB regarding the management
of noise norms. All this has resulted in enormous saving in foreign
exchange.
11. In the era of Information Technology, we have taken good advantage of
ERP system from BAAN, internet and e-mail facilities. This has not only
helped in getting the prompt information by overcoming communication
barriers but has also resulted in cost reduction in courier, telephone,
fax, stationary and the most precious element i.e. time.
12. I would like to express my gratitude to the various Government
Agencies, Banks and Financial Institutions for the Co-operation and
assistance extended by them to the Company. I Would like to place on record
my gratitude to our Collaborator and Partner M/s Yamaha Motor Co Ltd.,
Japan for its guidance and support extended from time to time.
13. I wish to thank my colleagues on the Board for their guidance and Co-
operation and express my appreciation for the sincere and dedicated efforts
put in by the workmen, staff and executives of the Company.
13. I wish to thank my colleagues on the Board for their guidance and co-
Operation and express my appreciation for the sincere and dedicated efforts
put in by the workmen. Staff and executives of the Company.
I wish to extend, on behalf of the Board and myself, sincere thanks to all
our customers, dealers and vendors.
I Would also like to express my deep gratitude for the continuous support
received by the Company from the Shareholders and also wish all our
Shareholders and Stakeholders continued growth and prosperity from their
association with Birla Yamaha Limited.
Thank You,
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