You are here » Home » Companies » Company Overview » KG Petrochem Ltd

KG Petrochem Ltd.

BSE: 531609 Sector: Industrials
NSE: N.A. ISIN Code: INE902G01016
BSE 00:00 | 02 Dec 221.00 -5.00
(-2.21%)
OPEN

231.95

HIGH

231.95

LOW

221.00

NSE 05:30 | 01 Jan KG Petrochem Ltd
OPEN 231.95
PREVIOUS CLOSE 226.00
VOLUME 23
52-Week high 399.95
52-Week low 200.00
P/E 19.25
Mkt Cap.(Rs cr) 115
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 231.95
CLOSE 226.00
VOLUME 23
52-Week high 399.95
52-Week low 200.00
P/E 19.25
Mkt Cap.(Rs cr) 115
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

KG Petrochem Ltd. (KGPETROCHEM) - Chairman Speech

Company chairman speech

Dear Shareholders

I am pleased to share with you an update on your company's performance for 2020-21. Iam presenting the 41st Annual Report of KG Petrochem Limited reflecting on ouraccomplishments during the financial year 2020-21.

Just a year ago when the World Health Organization (WHO) declared COVID-19 a pandemicand India imposed a strict lockdown in March 2020. Since then many people lost their lifeand the life of survivals has been disrupted and lifestyles have been fundamentallyaltered. In India some areas of activity especially contact intensive ones have beendeeply scarred. In factory-based manufacturing and institutionalized services there hasbeen considerable adaptation to pandemic protocols enabling normalization of workprocesses quicker than in other sectors.

As far as India's merchandise exports in March 2021 were valued at USD 34.0 billion ascompared to USD 21.49 billion in March 2020 an increase of 58.23%.

As per the Ministry of Commerce Cotton Textile exports reached a level of USD 1104million in March 2021 marking a growth of 55.67 per cent against the corresponding monthof March 2020 wherein exports were valued at USD 709 million. Exports of cotton textilesduring the period April 2020- March 2021 have shown a decline of 2.12% reaching a level ofUSD 9.81 billion over the previous year with exports of USD 10.02 billion during theperiod April - March 2020. The decline of 2.12% is mainly because of steep fall in April/May. It may also be noted that exports of cotton textiles have shown positive growth fromJune 2020 onwards till March 2021.

However second wave also impacted the business. The major issues faced were supplyinterruption of raw material availability of labour high inflation rate highshipping/transportation cost which resulted into slight decline in numbers as compared tothe last year.

Some Key Features on Company's Data:

• Total Revenue from Operation includes other income has decreased from Rs.33866.76 Lakhs to Rs. 30626.14 Lakhs i.e. 9.57% decline that of the previous year.

• Earnings before interest tax depreciation and amortization (EBITDA) decreasedby 14.34%

• Profit before tax (PBT) before exceptional items down by 17.48%

• Profit after tax (PAT) down by 10.27%.

Earnings before interest tax depreciation and amortization (EBITDA) decreased by14.34% due to announcement of new scheme RODTEP by Central Government of India replacingerstwhile scheme of ROSCTL w.e.f. 1st January 2021. As the rates of RODTEP werenot announced till that date the income of Rs. 820 Lakhs considering the old ROSCTL Rateswere not recognized for 4th quarter ended March 31 2021. However theGovernment has notified on 13th August 2021 to restore the ROSCTL scheme fortextile Industry till 31st March' 2024.

In this scenario our aim is to ensure that the employees feel supported and valued. Intimes like these it is important to come together and to value health over everythingelse. With the second wave of COVID-19 we continue to stand in solidarity with everymember to ensure their mental physical and financial well-being as they navigate throughthese challenging times. The COVID Care Measures we initiated have been done so keeping inmind the health requirements of our employees and society. We set up various facilitiessuch as a vaccination drive (Vaccination for Employees followed with Health check portalcalled "Team-20") Medical KIT for prevention and control and donated otherfacilities like Oxygen Concentrator Medical Equipment-IV Fluid Stand and Stools MusicSystem (To overcome trauma of COVID Patient) .

On this note I would like to express my sincere thanks to our Board Members for theirunwavering support and guidance in these difficult times. I would also like to express mygratitude towards the cooperation and assistance extended by the Central GovernmentGovernment of Rajasthan Financial Institution(s) Bank(s) Dealers and Society at large.Further wants to thank all the shareholders customers and vendors around the world fortheir continued trust in KGPL. And last but not the least my heartfelt thanks toall our members whose dedication and passion remain the biggest driver of the Company'svision and strategic goals. Best wishes for the year ahead. Stay safe!

I extend my sincere thanks to all our stakeholders including lending banksshareholders customers and our loyal hardworking and committed employees for theirunstinted support in shaping and improving the performance of the Company and forinspiring us even in the turbulent time in the recent past.

With warm regards
Gauri Shanker Kandoi
Chairman & Wholetime Director
DIN:00120330

.