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Hitech Corporation Ltd.

BSE: 526217 Sector: Industrials
NSE: HITECHCORP ISIN Code: INE120D01012
BSE 10:28 | 18 Oct 233.00 1.60
(0.69%)
OPEN

233.25

HIGH

233.25

LOW

233.00

NSE 10:23 | 18 Oct 231.35 -0.40
(-0.17%)
OPEN

232.00

HIGH

239.40

LOW

231.20

OPEN 233.25
PREVIOUS CLOSE 231.40
VOLUME 200
52-Week high 274.65
52-Week low 76.00
P/E 15.51
Mkt Cap.(Rs cr) 400
Buy Price 233.00
Buy Qty 53.00
Sell Price 235.90
Sell Qty 1.00
OPEN 233.25
CLOSE 231.40
VOLUME 200
52-Week high 274.65
52-Week low 76.00
P/E 15.51
Mkt Cap.(Rs cr) 400
Buy Price 233.00
Buy Qty 53.00
Sell Price 235.90
Sell Qty 1.00

Hitech Corporation Ltd. (HITECHCORP) - Chairman Speech

Company chairman speech

 

MD Letter

Dear Members

At the country gears up to become a $ 5 Trillion economy. Corporate India hat a pivotalrole to play In not only maintaining the growth of the top performing sectors but alsoproviding impetus to entrepreneurial ventures. Despite entering on era of fiscal prodenceit Imperative now more than ever that we Invest dldously to establish the bedrock ofthis growth.

At Hltech we envfston a path forward that will expand our horizons continuing stronggrowth tra[ectory. India's young population It among the most provatized In the world. The600 million strong demographic will likely move up the Income curve and push throughlarger consumer numbers. With this rise In the demand of consumable goads we pledge to beresponsive and Innovative while offering quality and sustainable packaging to add valuethat responds to consumer needs. This It In line with our most important value of customercertainly.

We endeavour to use modem technology rod are examining a road map to create a Tod Boomfocused on value engineering rod servicing customer with precision products. We hare heldthe cornerstone for an automatic direct to machine centre; using software analysis wehope to provide better quality controlled moulded parts. These will result In faster andmore predse mould manufacturing. Furthermore we are exploring replacement of traditionalprinting methods with laser printing. We believe that the combination of thesetechnologies will set the stage for swift and efficient growth.

Looking back; we had a goad year; we produced 3000 more tonnes expanded contributionby over 16% and reined In our fixed expenditures by 4%. All In we ended the year withnearly 40% growth In EBITDA. We partnered with our customers to analyse trials andrecommend changes that reduced their costs and Improved their designs. Additionally ourMysore and Vizag plants have begun commercial production In September 2018 and August 2019respectively. They are bath world class facilitites great care has been taken to makeoptimal use of space as well as Investment. Despite a variety of roadblocks these werebuilt In record time and will take our Instated capacity to Impressive levels by the endof the first phase of production

Two df our fad titles are certified ‘Green Channel' partners In addition to havingthe requisite ISO compliances. With this we hope to standardize our superior qualitypremise which Is the halmark of our brand. lastly I would like to express my gratitudeto you all for your continued support and faith In our Company's endeavours.

With Regards Malay Dan!

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