You are here » Home » Companies » Company Overview » Gokul Refoils and Solvent Ltd

Gokul Refoils and Solvent Ltd.

BSE: 532980 Sector: Industrials
NSE: GOKUL ISIN Code: INE020J01029
BSE 00:00 | 25 Jan 39.10 1.65
(4.41%)
OPEN

36.50

HIGH

40.25

LOW

36.10

NSE 00:00 | 25 Jan 39.15 1.85
(4.96%)
OPEN

37.80

HIGH

40.30

LOW

36.25

OPEN 36.50
PREVIOUS CLOSE 37.45
VOLUME 46584
52-Week high 47.80
52-Week low 15.50
P/E 144.81
Mkt Cap.(Rs cr) 387
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 36.50
CLOSE 37.45
VOLUME 46584
52-Week high 47.80
52-Week low 15.50
P/E 144.81
Mkt Cap.(Rs cr) 387
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Gokul Refoils and Solvent Ltd. (GOKUL) - Chairman Speech

Company chairman speech

Dear Stakeholders

It gives me immense pleasure to present the 28th Annual Report and Performance of yourCompany.

Traditionally India was an exporter of edible oil before Independence became self-sucient post-Independence (till the early 1970s) ooundered in 1970s and 80s and regainedself-su ciency in the early 90s (1991-94).

But we are currently the biggest importers in the world!

India imports around US $ 10 billion of edible oil (15 million tonnes) annually whichconstitutes nearly 70% of our annual edible oil requirement of 23 million tonnes.

The COVID-19 pandemic has been detrimental for globalisation and has led to a clamourfor protectionism.

India's national strategy is also in line with this trend with calls for'Atmanirbharta' and 'vocal for local' increasing.

The prices of edible oils showed a considerable growth during the Financial Yearinternationally.

Since India is considerably dependent on import for fulfilling its edible oil needsprices of edible oil rose considerably in India.

On January 8 2020 the India Directorate General of Foreign Trade had put palm oilfrom the 'Free' to 'Restricted' List.

This led to a spike in palm oil prices and consequentially of other edible oils makingtheir cultivation more appealing. Improved MSP this year also contributed to the cause.The Ministry of Agriculture's CWWG report as on September 4 2020 reported that kharifoilseeds cultivation showed a growth of 12% compared to a growth of 6% for all kharifcrops. The edible oil industry is resilient and has the potential for being atmanirbhar.

However this restriction was removed in June 2021 till December 2021 to help increaseavailability of the commodity in the domestic market and bring down prices.

Mustard prices ruled at higher than the MSP (Minimum Support Price) x ed by the CentralGovernment due to higher demand and bullish trend in edible oil prices during the lastFinancial Year.

Castor oil is an important ingredient for the global specialty chemical industry as itis the only commercial source of hydroxylate fatty acid.

India is the world's largest producer of castor seed and castor oil. The countryexports about 90 percent of the oil globally with China being the major buyer.

India's castor oil exports are estimated to have increased to a four-year high of 6.44Lakh tonnes last year with China buying 50 percent of it to build inventory.

Challenges that emerged in the form of COVID 19 has affected every sector of theeconomy in the form of various challenges such as production challenge demand and supplychallenges logistical challenges etc. Your Company is capable of handling suchchallenges.

During the year under review total revenue from operation was Rs. 246466.59 Lakhsagainst Rs. 216121.68 Lakhs in the previous year on a consolidated basis. This show anincrease in total revenue by 14.04 % as compared with previous year.

Net prot after tax is Rs. 2045.64 Lakhs for year ended 31.03.2021 as against Net prootof Rs. 1978.08 Lakhs in previous year on a consolidated basis. Hence the net prot afterincreased by 3.42 % as compared with previous year.

Economic Outlook for 2021-22

Global economy is expected to continue its recovery from recession in 2021-22 butglobal output is unlikely to return to pre-pandemic levels until 2022. Moreover economicactivity is expected to be uneven across countries and sectors remaining dependent oneffective pandemic management and government policy support.

In 2020-21 India's economy is estimated to have contracted by 7.3 per cent while in2019 it registered a growth rate of four per cent the World Bank said adding that in2023 India is expected to grow at 6.5 per cent.

The Global economy is set to expand by 5.6 per cent in 2021 – its strongestpost-recession pace in 80 years.

"For India GDP in scal year 2021/22 starting from April 2021 is expected toexpand 8.3 per cent" it said.

Activity will benet from policy support including higher spending on infrastructurerural development and health and a stronger-than expected recovery in services andmanufacturing it said.

Over the years our products have ruled a number of kitchens in the country but ourefforts (beyond our business) have nourished lives of many more. We continue to go headstrong in our actions towards healthcare education and empowerment of women whichembrace our social values and principles. Where we stand today are the perseverance andefforts undertaken by your Directors and the entire family of Gokul Group. I would like toexpress my gratitude to the entire family of Gokul Group and their efforts and hard workthat has made "Gokul" the prominent and renowned brand. I am condent and excitedthat the Gokul family will excel great heights in the years to come. I would like to takethis opportunity to thank our dedicated and motivated employees who are the greatest assetof the Company and with their passion hard work and commitment taken us to this level andalso appreciate the guidance from the members of Board from time to time.

We also thank our stakeholders clients vendors bankers investors GovernmentsGovernment Agencies and partners in growth for reposing their condenc e and faith in theCompany. Despite corona pandemic Gokul group was able to deliver because of your supportand condenc e in us. It is your trust and commitment that inspires us to set highstandards of growth and performance and continue to deliver high returns to ourstakeholders. We look forward to continue our journey on the path of excellence andprotable growth in the coming years.

Sincerely Yours

Balvantsinh Rajput

Chairman

.