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Chemfab Alkalies
BSE: 506894|NSE: CHEMFALKAL|ISIN: INE479E01028|SECTOR: Chemicals
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« Mar 14
Chairman's Speech (Chemfab Alkalies) Year : Mar '15
Dear Shareowners,
 
 I have great pleasure in welcoming you all to the 32nd Annual General
 Meeting of your Company.
 
 MILESTONE
 
 This year, your Company has achieved yet another milestone. In 1985,
 your Company was the first to introduce the Monopolar Electrolysers
 from M/s Chlorine Engineers Corporation, Japan (CEC). This year your
 Company has repeated history by introducing, for the first time in the
 Country, a new BiTAC® Electrolysers from CEC, Japan.
 
 The new Plant was commissioned during August 2014, and is operating
 well within the agreed operational parameters and will result in
 savings in energy consumption.
 
 Your Company has also replaced the old Caustic Concentration plant with
 a new Plant and this was commissioned in the month of March 201 5. This
 will also result in improved operational efficiencies.
 
 COMPANY''S PERFORMANCE
 
 As all of you would have noticed from the Annual report for the year,
 the Profitability for this year is Rs.10.23 Cr. against Rs.16.45 Cr.
 for the previous financial year. The Revenue from Operations (Net) for
 this year is Rs.110.39 Cr. against Rs.112.66 Cr. for the previous
 financial year.  The decline in the profitability is mainly on account
 of lower realizations for the products due to adverse market
 conditions, higher power and depreciation cost.
 
 EXPANSION
 
 We still await the Statutory clearances for the Company''s expansion
 plans and a favourable decision on our appeal before the National Green
 Tribunal. Your Company has also made plans for venturing into newer
 areas for Chlorine utilisation. The new Salt fields which were acquired
 are slated to commence production shortly. With all these measures, I
 am confident that your Company is poised for a great leap ahead and
 achieving good results in the forthcoming years.
 
 PROCESS SAFETY MANAGEMENT
 
 Your Company has begun implementing the Process Safety Management (PSM)
 and is also working on the Sustainability Report.
 
 CARBON FOOTPRINT STUDY
 
 I am very happy to inform that your Company is the first in the
 Chloralkali Industry in India to have carried out the carbon footprint
 study in association with The Energy and Resources Institute (TERI),
 Bangalore.
 
 DIVIDEND
 
 Your Directors have recommended the payment of dividend of 25% for this
 year.
 
 ACKNOWLEDGEMENT
 
 I thank all the Shareholders of the Company for the confidence they
 have reposed on us.
 
 On behalf of all your Board of Directors and on my behalf, I would like
 to express our sincere gratitude to all our Stakeholders, for their
 valuable support. We also thank all the CALmates for their efforts and
 commitment towards their contribution to the progress of your Company.
 
 I express my gratitude to my Directors on the Board for their valuable
 guidance.
 
 Thank you all for attending this meeting.
 
 Place : Chennai                      Suresh Krishnamurthi Rao
 Date : 27th April 2015                Chairman
 
Source : Dion Global Solutions Limited
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