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Butterfly Gandhimathi Appliances Ltd.

BSE: 517421 Sector: Consumer
NSE: BUTTERFLY ISIN Code: INE295F01017
BSE 00:00 | 16 Aug 295.45 -6.80
(-2.25%)
OPEN

295.00

HIGH

298.80

LOW

287.15

NSE 00:00 | 16 Aug 290.00 -7.75
(-2.60%)
OPEN

290.25

HIGH

297.90

LOW

282.90

OPEN 295.00
PREVIOUS CLOSE 302.25
VOLUME 9046
52-Week high 661.00
52-Week low 158.00
P/E 35.47
Mkt Cap.(Rs cr) 528
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 295.00
CLOSE 302.25
VOLUME 9046
52-Week high 661.00
52-Week low 158.00
P/E 35.47
Mkt Cap.(Rs cr) 528
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Butterfly Gandhimathi Appliances Ltd. (BUTTERFLY) - Chairman Speech

Company chairman speech

Dear Fellow Shareholders

The Financial year 2016-17 was a year of several surprises and challenges in equalmeasure to trade and industry as also to the common consumer. On a larger canvas theglobal economy was caught in crosshairs of sluggish demand and currency volatility. Thesewere ultimately reflected in the growth rates of large economies. In an era of globalintegration Indian economy cannot remain totally insulated from the global currents. Toface these challenges it must be said to the credit of our policy makers a number ofmeasures have been initiated both on the policies front and in boosting investmentparticularly in the infrastructure. These initiatives coupled with concrete ground-levelaction on Financial inclusion are expected to yield results from the current year onwardsand will lay a solid foundation for a sustainable growth by generating employment and theresultant push in consumption.

The kitchen appliances segment which had witnessed an exponential growth trend for thelast few decades started slowing down over the last couple of years due to a variety offactors such as volatility in the prices of raw materials besides uncertainties in theiravailability aggravated by natural calamities like floods and cyclones in the areas whereyour company's products have strong presence. Another factor that impacted the retailsales adversely was demonetization though this measure would benefit the nation in thelong run.

The aforesaid reasons adversely affected the performance of the company both in respectof top line and the bottom line during the period under review. Total revenues stood atRs.447.35 crores for the year. But one notable feature was that the entire revenue camefrom the company's branded products without any Government order. The adverse conditionsdiscussed above were converted by your company into an opportunity to focus on moreefficient management of our working capital and for improving the hold on the South Indianmarket through enhanced relationship program with the distributors and through modernretails. The implementation of the much awaited GST is expected to benefit the industrythrough the efficiency and efficacy of new taxation system.

The company is striving to achieve a quick turnaround through effective costrationalization greater market penetration and an efficient working capital management.We do believe that the committed team in your company will achieve the aforesaidobjective. I take this opportunity to express my deep sense of gratitude to all ourcustomers suppliers banks employees at all levels and to you all for your continuedsupport.

Yours sincerely Chairman.

Butterfly Gandhimathi

Appliances Limited

30th Annual Report - 2017