You are here » Home » Companies » Company Overview » Tinplate Company of India Ltd

Tinplate Company of India Ltd.

BSE: 504966 Sector: Metals & Mining
NSE: TINPLATE ISIN Code: INE422C01014
BSE 00:00 | 23 Sep 285.60 6.00
(2.15%)
OPEN

282.70

HIGH

295.50

LOW

282.70

NSE 00:00 | 23 Sep 285.65 5.80
(2.07%)
OPEN

286.00

HIGH

295.25

LOW

285.00

OPEN 282.70
PREVIOUS CLOSE 279.60
VOLUME 99709
52-Week high 311.50
52-Week low 118.00
P/E 17.22
Mkt Cap.(Rs cr) 2,989
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 282.70
CLOSE 279.60
VOLUME 99709
52-Week high 311.50
52-Week low 118.00
P/E 17.22
Mkt Cap.(Rs cr) 2,989
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Tinplate Company of India Ltd. (TINPLATE) - Chairman Speech

Company chairman speech

The global economy suffered a significant shock in the early part of FY 2020-21 but hassubsequently seen a recovery in demand. COVID-19 led to a nation-wide lockdown in Q1 FY2020-21 resulting in contraction of GDP by ~24% in the quarter as most economic activitycame to a halt. India then witnessed a gradual resumption of economic activity from Q2 ofFY 202021 driven by government spending on infrastructure exports and rural economy. InH2 FY 2020-21 consumption demand picked up pace. In FY 2021-22 India is projected togrow by ~ 8% - 9.5% driven by

a) ongoing vaccination supporting the current recovery momentum;

b) restart of investment cycle with significant spending on infrastructure and

c) continued recovery in consumption supported by urban demand accentuated bywork-from- home and personal mobility preferences along with rising rural incomes andaffordability. However risks in the near term could stem from a renewed lockdown due tonew wave(s) of COVID-19.

The consumption of Tinplate in India decreased by ~16% in FY 2020-21 primarily due todecrease in demand in Q1 and labour availability issues. Imports of Tinplate in Indiaduring the year under review also decreased by 27% due to the impending Steel & SteelProducts' Quality Control Order and anti-dumping investigation. The fall in domesticdemand was compensated by a quick ramp up in exports which posted a growth of 29% over theprevious financial year.

Our overall FY 2020-21 sales of 315.5KT exceeded the previous year sales (311KT).

With dedication and relentless commitment from each of the members of the TCIL familythe overall performance of the Company improved with increase in EBITDA by ~14%. YourCompany posted an all-time high PAT of Rs. 9815 lakh. The sales increased only marginallyby 2% from the previous financial year given the disruptions in Q1 but cashflows werehealthy. Considering the overall performance of the Company the Board of Directors haverecommended a dividend of Rs. 2/- per equity share for FY 2020-21 as compared to dividendof Rs. 1/- per equity share paid for FY 2019-20.

Amidst the pandemic a key task of the Board and the leadership team of Company hasbeen to focus on the health and well-being of its employees while calibrating productionin line with market conditions. The Company has put in place strict safety protocolswithin the Plant as guidelines. It has strengthened its medical facilities in order toprotect its workforce and the community in which it operates.

Your Company will continue to improve efficiency reduce costs enhance profitabilityand create more value for our shareholders. Your Company strives to increase its marketshare by focussing on product quality and development and by leveraging its long-termrelationships with its customers.

I take this opportunity to thank all business associates shareholders Government andother stakeholders for their continued support and confidence in the Company and theManagement during this challenging year. I extend my sincere gratitude towards therespective Unions and all the employees for their contribution during these difficulttimes.

Warm regards

Koushik Chatterjee

Chairman.

.