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IG Petrochemicals Ltd.

BSE: 500199 | NSE: IGPL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE204A01010 | SECTOR: Chemicals

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BSE Live

Feb 24, 16:00
168.25 -4.95 (-2.86%)
Volume
AVERAGE VOLUME
5-Day
1,407
10-Day
1,822
30-Day
3,219
4,527
  • Prev. Close

    173.20

  • Open Price

    173.65

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Feb 24, 15:51
170.00 -3.30 (-1.90%)
Volume
AVERAGE VOLUME
5-Day
16,059
10-Day
19,709
30-Day
38,613
25,464
  • Prev. Close

    173.30

  • Open Price

    173.30

  • Bid Price (Qty.)

    170.00 (4)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2016 2015 2014 2013 2012 2002

Chairman's Speech

Dear Shareholders, I write to you in the backdrop of a particularly challenging year for the Indian economy in the midst of recession in the Euro zone, muted domestic investment demand and limited fiscal and monetary space to stimulate the economy. Further the hike in crude oil price and the depreciation of the rupee has also impacted the industry and the overall business sentiments. The country''s economic growth projections continue to be scaled down and there are expectations that the year 2012-13 would be the second consecutive year of lowest growth, in the past decade, as per the latest CRISIL report on the state of the economy. However, declining global crude oil prices and normal monsoon are positive factors that would help in improving growth rate. The interest rate cycle has been reversed by the RBI. For I G Petro, the PA market was sluggish especially during the third quarter of the year as the market condition was unfavorable due to heavy dumping in the local markets. The PA manufacturers association made a representation to the Government for imposing Safeguard duty on PA to avoid dumping of PA at cheap rates in order to ease the margin pressure and achieve sustainability. The Government imposed the Safeguard duty of 10% ad-valorem during January 2012 for a period of one year due to which the imports became dearer and the industry started showing some signs of improvement. However, despite the challenging scenario and difficult conditions, I am happy to share that the Company has delivered good performance by achieving a production of 1,15,673 MT working at 99.62% capacity during the year as against 1,09,147 MT at 94% during the previous year 2010-11. Moving forward, we believe that our focused strategy to expand capacities and our existing strengths will be the foundation for sustainable future growth. Our planned expansion project is well on stream and we expect it to be completed within the targeted period of the first quarter of Financial Year 2013-14. The total expanded PA capacity would be 1,66,110 MT. The expanded capacity would mitigate itself against the increasing cost pressures arising out of volatile raw material prices, thus strengthening our gross margins. The Company is also exploring certain opportunities to captivity utilize the huge capacity which would be available after expansion as a forward integration process and add certain value-added products to de-risk its existing business. On this positive note of optimism, before I end, I would like to thank all members of the staff for their contribution to the Company''s growth and all stakeholders, bankers for the faith reposed in us. We assure you of our best and continue to work to deliver value to our customers and shareholders. Yours Sincerely, M M Dhanuka Chairman