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Natco Polyplast Ltd.

BSE: 526743 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Natco Polyplast Ltd
NSE 05:30 | 01 Jan Natco Polyplast Ltd

Natco Polyplast Ltd. (NATCOPOLYPLAST) - Chairman Speech

Company chairman speech

1995 NATCO POLYPLAST LIMITED CHAIRMAN'S REPORT It is indeed a very pleasure to me to welcome respected members of the Company at the First Annual General Meeting of your Company. I thank you all for the tremendous response shown in making the Company's Public Issue an overwhelming success which was over subscribed by over 7.22 times. The year 1994-95 is the historic year of the Company. The Company started its commercial production from 35 & 50 litres capacity carboys. Immediate & very planned expansion took place, resulting into the Company are producing very vide range of capacity carboys as per the market requirement. This has been possible by your tremendous response to the success of public issue of the Company. The result when put into financial parameters, the targeted figures of the Company were put behind by the actually achieved results during ten months period for the year 1994-95. A birdeye view of the results is produced in following paragraphs: Projections Actual Sales 189.75 227.10 Profit Before Tax 11.23 16.60 Profit After Tax 10.90 16.60 EPS (Rs.) 1.52 4.39 It gives me pleasure to note that the Company have achieved turnover of Rs. 227.10 lacs, and net profit of Rs. 16.60 lacs for the first financial year of ten months. The Company has successfully launched the project of manufacturing of High Molecular / High Density Polythene Blow Moulded Plastic containers. The golden past of the Company is a guide to the future of the Company. Now your Company is carring with another expansion for the product of PET Bottels. As you all aware the market of the Pet Bottels is very bright due to its multipurpose use. YOUR DIRECTORS HAVE RECOMMENDED DIVIDEND @ 10% ON PRO-RATA BASIS FOR THE YEAR ENDED ON 31ST MARCH. 1995. Further the performance of your Company in current year is also encouraging and your Company is quite hopeful to maintain the growth of the Company as per the projections given in the prospectus. The Company is planning for above expansion cum diversification programme for manufacturing of PET bottles within short time. At last but not least, I appreciate the co-operation and support extended by Shareholders, employees, customers, suppliers, bankers and financial institutions to the Company during the year captioned. I also thank my colleagues on the Board for their valuable advice and guidance from time to time. D. J. Jhunjhunuwala Chairman Place : Ahmedabad Dated : 5th July, 1995.