KKalpana Industries (India) Ltd.
|BSE: 526409||Sector: Industrials|
|NSE: N.A.||ISIN Code: INE301C01028|
|BSE 00:00 | 24 Jun||17.20||
|NSE 05:30 | 01 Jan||KKalpana Industries (India) Ltd|
|Mkt Cap.(Rs cr)||162|
|Mkt Cap.(Rs cr)||161.77|
KKalpana Industries (India) Ltd. (KKALPANAINDS) - Chairman Speech
Company chairman speech
I feel greatly privileged to welcome you to the 36th AnnualGeneral Meeting of your company and hope that all of you and your family members are doingwell. The Annual Report together with the Audited Accounts and Board's Report for theFinancial Year ended 31st March 2021 are with you. I am sure you must havegone through them in detail. With your permission I take them as read and hope that itgives you a clear insight of the working of the Company during the year under review.
Due to restrictions in movement and assembly of people and as a measureof safety and precaution
I am not able to address you in person and are holding this meetingthrough virtual means. I am glad to see you all joining us in the meeting through theplatform provided by the Company for this Annual General Meeting.
Global prospects remain highly uncertain one year into the pandemic.New Virus mutations and the accumulating human toll raise concerns though the growingvaccine coverage and vaccination drives and researches to combat the Covid-19 have to someextent helped in lifting positive sentiments. Economic recoveries are diverging acrosscountries and sectors depending on the policy support and variation in pandemic induceddisruptions. The outlook depends on not just the battle between vaccine and virus but howeffectively economic policies are deployed under these high uncertain times to limit thelasting damage from this unprecedented crisis.
As per IMF report the global growth is projected at 6% in 2021moderating to 4.4% in 2022. The projections for 2021 and 2022 are stronger than that inthe October 2020. The upward revision reflects additional fiscal support in a few largeeconomies the anticipated vaccine-powered recovery in the second half of 2021 andcontinued adaptation of economic activity to subdued mobility. A high degree ofuncertainty surrounds these projections with many possible upside and downside risks.Greater progress with vaccinations can uplift the forecast while new virus variants thatevade vaccines may have a downside impact.
India's Gross Domestic Product (GDP) contracted 7.3% in 202021marginally better than 8% contraction in the economy as projected. GDP growth in 201920prior to Covid-19 pandemic was 4%. The IMF in its April edition predicted an impressive12.5% growth rate for India in 2021 stronger than that of China the only major economyto have positive growth rate last year during the Covid-19 pandemic. As per its reportsthe Indian economy is expected to grow by 6.9% in 2022.
Scenario in Kkalpana Industries (India) Limited
Your company mainly caters to wires and cables packaging footwear andconsumer durables. However nearly all the manufacturing units to which your companysupplies its goods have incurred precipitous contraction in production and consequentlyyour company's topline has also been moderately impacted in the financial year underreview i.e. 2020-21. However because of your company's high grade Research andDevelopment (R&D) and All India Marketing Network and that the Board had factored inthe risk portfolios projected to be faced by your company necessary steps were taken tosafeguard the topline and bottomline considerably.
The company's net revenue for the year ended 31st March2021 stood at Rs. 1549.99 Crores
as against Rs. 1762.21 Crores for the Financial Year 2019-20. Profitafter tax for the year under review stands at Rs. 22.41 Crores as against Rs. 30.64Crores in the previous financial year. The Company's EPS is Rs. 2.38 as against Rs. 3.26in the previous financial year.
Your Directors have recommended dividend of 10% per equity share of Rs.2/- each for the Financial Year ended 31st March 2021. The total outgo will beRs. 188.15 lacs (approximately).
At the outset I would like to extend my heartfelt gratitude to theCollegues and associates operating from all our manufacturing Units offices and otherancillary fabrication facilities who have been relentlessly working to ensure smooth anduninterrupted operations and serve the customers vendors and all stakeholders with utmostefficiency in spite of the challenging times. As we continue to embark on ourtransformation journey I wish to express my heartfelt gratitude to the members of theBoard for providing continuous support and guidance to maintain the highest standards ofCorporate Governance and professionalism in running the day to day business of yourcompany. I also place on record my appreciation to regulatory/ statutory bodies banks andfinancial institutions. My special thanks goes to you dear members for reposing yourtrust in the company and helping it to shape it is an institution of great stability. Ialso thank our various customers and suppliers based at various parts of the country.
I take this opportunity to salute the spirit of the Governmentauthorities who have not left any stone unturned in fighting this Pandemic and arecarrying out one of the biggest vaccine inoculation across the country. We as a Countryhope to come out of the pandemic and expect normalcy to resume soon.