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Krebs Biochemicals & Industries Ltd.

BSE: 524518 Sector: Health care
NSE: KREBSBIO ISIN Code: INE268B01013
BSE 00:00 | 23 May 91.70 0
(0.00%)
OPEN

90.10

HIGH

96.80

LOW

90.10

NSE 00:00 | 24 May 92.80 1.80
(1.98%)
OPEN

90.10

HIGH

93.90

LOW

90.10

OPEN 90.10
PREVIOUS CLOSE 91.70
VOLUME 510
52-Week high 170.45
52-Week low 85.10
P/E
Mkt Cap.(Rs cr) 153
Buy Price 92.00
Buy Qty 35.00
Sell Price 95.00
Sell Qty 100.00
OPEN 90.10
CLOSE 91.70
VOLUME 510
52-Week high 170.45
52-Week low 85.10
P/E
Mkt Cap.(Rs cr) 153
Buy Price 92.00
Buy Qty 35.00
Sell Price 95.00
Sell Qty 100.00

Krebs Biochemicals & Industries Ltd. (KREBSBIO) - Chairman Speech

Company chairman speech

CHAIRMAN'S STATEMENT KREBS BIOCHEMICALS LIMITED Annual Report 1998-99 This seventh Annual Report of the company carries the accounts for the year 1998-99 along with the reports of Directors and Auditors. It may be noted that the turnover during this year was Rs.36.84 crores which is just 1.84% more than in the year 1997-98. The net profit however, registered a fall by 10.73% over the preceding year. You may please recall my statement in the previous Annual General Meeting wherein I have alerted the company that the steady growth recorded so far cannot be taken for granted and that continuous efforts are required to maintain the pace. This year unfortunately, there has been a set back in the exports of the company's products compared to last year. This is explained as due to abnormal fall in prices in the international market, aggravated by the financial crisis in South East Asian economies. An earnest effort has however, been made to sustain our price levels by looking for alternative sources. This, I believe, has taken some time resulting in accumulation of stocks. The unit at Kothapalli village in Visakhapatnam dist. has been completed successfully and the commercial production of Erythromycin is declared form 22nd Jan, 1999, soon after obtaining clearance from Environmental Authorities. Here again, I must say, that we were lucky to envisage the need to establish a multipurpose equipment for fermentation and production of different lines of value added products. Thus even though the company had teething problems regarding the stabilization of the process, the time was not wasted. Having achieved successful production of Erythromycin thiocyanate, considering that some more time is required to complete stablization of the process, necessary decision was taken to try simultaneously alternative lines of production of high value items taking advantage of the flexibility and versatility of the fermentation equipment installed. Fortunately this intitiative is proved successful. But all that effort falls into the current year leaving the year 1998-99 with the burden of expenditure incurred and depreciation charged. Having said all that, I am glad to report that the overall effect on profitability is not significant. In view of the comfortable position of profits for the year and reserves, directors desired to maintain the same level of dividend as declared last year i.e at Rs.5/- per share of Rs.10/- in the best interests of the shareholders. Your company is quite conscious of its social responsibilities and interacts continuously with the local inhabitants by extending help and assistance in matters of hygiene and education. Plans are under way to dovetail these efforts into some of the relevant programs of the Government. In consultation with the Pollution Control Board a long term plan is devised to reduce the pollution effect and this plan is now under implementation. The management and employees continue to be dedicated and committed to quality and professional competence. The product also has a good standing in the market. I believe strongly, that the company has a bright future contributing its share to the national goal of "Health for All".