A record year of all-round performance
Writing my letter to you last year, I was so enthused that shedding the usual Chairman's caution, I pledged to elevate PCBL "to the next altitude of value creation",
A year later, I am delighted, that promise has been achieved and defying all the overseas business tension and home competition, PCBL, in FY18, could outperform our expectation.
The pages that follow give you a ball-by-ball picture of your Company's all-round performance, including our record-breaking production of Carbon Black, achieving the highest-ever output from the four plants, the highest-ever turnover, as also profits. It is a pleasure that all our plants well-known for their strategic locations increased their capacity utilisation and achieved encouraging cost- benefits through production efficiencies.
"We successfully continued our growth momentum and achieved an encouraging rise in revenues, as also profit. I continue to be in an optimistic mood."
I am sure you will join with me in congratulating the team on selling more of its products after broadening the range. Our Company, now in its 58th year, also responded vigorously to the new national slogan - 'Make in India'. While fighting the present, we have not overlooked the future scenario and we have initiated substantial capacity addition during the year. We also are ready for another greenfield project, this time in South India. To summarize, we successfully continued our growth momentum and achieved an encouraging rise in revenues, as also profit. Our cost efficient operations and the philosophy of prudent inventory management have led to noticeable debt reduction.
It gives me great satisfaction of having achieved record production and exports crossed 30 countries. PCBL also co-generated 450 million units of green power through conversion of lean gas, both for captive consumption and merchant sale.
There is also a good news for all shareholders. The final dividend of 60% ( Rs. 1.20 per split share of Rs. 2/- each) is in addition to the earlier interim dividend of 60% declared on 24th October, 2017, which was Rs. 6/- per equity share of the face value of Rs. 10/- per equity share.
As India prepares to move a fast foot forward to higher efficiency, I continue to be in an optimistic mood. Barring unforeseen developments in international markets, our dynamic team should ideally make FY19 another record-breaking year for PCBL and all its stakeholders.