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Well Pack Papers & Containers Ltd.

BSE: 531249 Sector: Industrials
NSE: N.A. ISIN Code: INE063H01031
BSE 05:30 | 01 Jan Well Pack Papers & Containers Ltd
NSE 05:30 | 01 Jan Well Pack Papers & Containers Ltd

Well Pack Papers & Containers Ltd. (WELLPACKPAPER) - Chairman Speech

Company chairman speech

WELL PACK PAPERS AND CONTAINERS LIMITED ANNUAL REPORT 2002-2003 CHAIRMAN'S REPORT MANAGING DIRECTOR'S COMMUNIQUE Dear Shareholders, I am glad to present you our 8th annual Report for your company. Paper Industry seems to be coming out of grip of recession slowly but quite steadily. Demand for Kraft Paper is stable and further seems promising with Good Monsoon. Demand has been further boosted by closure of almost 20 Mills in Gujarat from around 80 Mills. Only concern has been the unstable Government. policy for Small and Large Mills. It needs a serious look in order to make level paying field for all the Paper Mills. Both the divisions of your company, Kraft Paper and Corrugated boxes are doing well and are making steady progress in there respective Markets. In Kraft Paper Division we have been able to achieve production levels of around 1000 tons per month and steps are being taken to take it to around 1300 tons per month. Kraft Paper prices have improved by around 100/a compared to last year and Market seems to remain steady at there level. Ram Materials prices of Indian and imported origins have increased substantially. We have been able to source our materials at much competitive prices from our sources in Canada and Ireland which will have substantial effect on performance in Long term. In Corrugated Boxes Division we have been successful in getting business from New Customers like Coca Cola India,United Phosphumus etc. and Volumes are rising each Month. Your Corrugated Boxes division got ISO 9001 -2000 Certification from DNV In July 2003. I am happy to say that your Company has made sincerely efforts to reduce the cost in the recessionary period and due to this, overall cost of production has been come down form Rs. 16310.38 per tonne to Rs. 15129.74 per tonne. Your company achieved the turn over of Rs. 17.95 Crores and mad the net profit of Rs. 64.05 lacs during the year. Considering the all above factors, I hope for good performance in the coming year. Lastly, I take this opportunity to express my sincere thanks on behalf of the company and on behalf of all the stake holders for their continued support to the Management. With Regaus, Yours Sincerely Vinod M. Patel (Managing Director)