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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 17, 16:00
173.00 -0.30 (-0.17%)
Volume
AVERAGE VOLUME
5-Day
1,972
10-Day
3,106
30-Day
3,906
776
  • Prev. Close

    173.30

  • Open Price

    173.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Feb 17, 15:49
173.15 -1.15 (-0.66%)
Volume
AVERAGE VOLUME
5-Day
22,372
10-Day
28,383
30-Day
43,906
10,727
  • Prev. Close

    174.30

  • Open Price

    173.70

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    173.15 (10)

Annual Report

For Year :
2016 2015 2014 2013 2012 2002

Chairman's Speech

Dear Shareholders, It is always a pleasure to address you and share with you highlights of the previous year as well as our plans for the future. As you are all aware, the year was a significant year for the Indian economy. After three decades, we saw the election of a single-party majority government at the Centre. And what a difference in sentiments can change make : almost immediately, there was a wave of confidence in all sectors of the economy. The waves of optimism spread across the globe, with India emerging as a promising growth hot-spot in an otherwise lacklustre world economy. The International Monetary Fund has called India the one bright spot in the global economy. And rightly so, I think. While global economy continued to remain subdued growing at 3.4 per cent (IMF), on-going crisis in Greece and geo-political tensions in the Middle East and Ukraine cast their long shadows of gloom and uncertainty. China, which had experienced double-digit growth for the last twenty years, slowed down its lowest growth rate since 1990, to 7.4 per cent. Rising labour costs and dwindling export demand are expected to continue in China. In contrast, the India growth story once again grabbed headlines globally. GDP bounced back to 7.3 per cent aided by resurging demand. Manufacturing is now a high-focus area for the government under its flagship MAKE IN INDIA initiative. Inflation also largely tamed from high of 8 per cent in the beginning of the fiscal year to sub 5 per cent by April 2015, easing pressure on the precarious Current Account Deficit situation. For the petrochemicals industry, the later half of the year brought unexpected shock in terms of falling crude oil prices, which fell to their lowest since 2008-09. This caused a temporary aberration as buyers deferred their purchases leading to inventory pile-ups and pressuring margins. However, oil prices corrected in early 2015, reviving the demand cycle in the last quarter of the fiscal year. In spite of these upheavals, IG Petrochemicals continued to move on its trajectory of GROWTH. The additional capacity of 53,000 MTPA from PA3 boosted our performance. For the year, our Net Revenue from Operations decreased marginally to Rs. 1,188 crores from Rs. 1,204 crores in the previous year. However, there was a remarkable improvement in our profitability. Our Profit After Tax increased to Rs. 8.89 crores compared to Rs. 3.13 crores in the previous year, and our Cash Profit After Tax increased to Rs. 46 crores for the year, compared to Rs. 21.16 crores for the previous year. In view of this, a dividend of Rs. 1/- per share (10 per cent) has been proposed. We are hopeful to continue with this trend and pay consistent dividends in the years to come. As a responsible corporate citizen, we have always ensured that we share our success with the societies and communities we live and work around. During the year 2014-15, our CSR spend was Rs. 29.13 lacs at 3.27% of our Net Profit, focused to improve health and education through various activities and initiatives. As I look ahead, I am excited by the manifold growth opportunities on the horizon. Underpinned by an overall surging economy, domestic demand will be the single-most important driver of our future growth. Our timely expansion of PA3 in 2013 has ensured that we continue to dominate the PAN space in the country as the No. 1 manufacturers of PAN with lowest cost and strategic location near Mumbai. My sincere gratitude to all of you for your continued support. My special thanks to our customers, bankers, investors, vendors and employees. Yours sincerely, MM Dhanuka Chairman