| Notes
- The Board of Directors
has recommended a dividend of Rs.1.80 per
share for the year 2009-10.
- The increased installed
capacity of 27700 TPA of Expandable Polystyrene
(EPS) at the Chennai Plant was commissioned
on June 1, 2010.
- The Projects for EPS (24000
TPA), Cup Grade EPS (20100 TPA) and increase
in PS Compounding capacity to 33500 TPA at
Amdoshi (Maharashtra) are progressing as per
schedule.
- Styrenics is the primary
business segment of the Company. The secondary
segment (Geographical) is as under:
| |
|
|
| Particulars |
Year
Ended
30.06.2010
(Audited) |
Year
Ended
30.06.2009
(Audited) |
| |
|
|
|
a) Net Sales/Income from Operations
: |
|
|
|
>>Within
India |
123948.46 |
101133.18 |
|
>>Outside
India |
37322.63 |
38363.21 |
|
|
161271.09 |
139496.39 |
|
b) All the Assets of the Company are
within India except these Debtors |
4065.37 |
1659.73 |
- The Company had exercised
the option as per Ministry of Corporate Affairs
notification dated March 31, 2009 in respect
of AS 11. Accordingly, "Foreign Currency
Monetary Item Translation Difference Account"
has been credited with Rs. 36.68 lacs in respect
of foreign exchange gain and Rs.32.51 lacs
being amortisation out of it. Further foreign
exchange gain of Rs.23.20 lacs has been reduced
from the cost of Plant and Machinery.
- Tax expenses include current
tax and deferred tax.
- Investor complaints during
the quarter:
Opening Balance: NIL; Received during the
quarter: 43 ; Pending as on 30.06.2010: NIL.
- Figures of the previous
year/period/quarter are regrouped where necessary.
- This statement was taken
on record by the Board of Directors at the
meeting held on July 20, 2010.
| Place
: Mumbai
Date : July
20, 2010
|
|
For
SUPREME PETROCHEM LTD
M. P. TAPARIA
CHAIRMAN |
| STATEMENT
SHOWING SHAREHOLDING PATTERN IN CLAUSE-35
OF SUPREME PETROCHEM LTD
FOR THE QUARTER ENDED AS ON 30/06/2010
SCRIP CODE: 500405 |
| |
Total Shareholding
As a % Of Total No. Of Shares |
Shares Pledge
Or Otherwise Encumbered |
| Category
Code |
Category
of Shareholder |
No. Of
shareholders |
Total
No. Of shares |
No. Of shares
held in Dematerialized Form |
As a Percentage of (A+B) |
As a Percentage of (A+B+C) |
No. Of Shares |
As a Percentage |
| (I) |
(II) |
(III) |
(IV) |
(V) |
(VI) |
(VII) |
(VIII) |
(IX)=(VIII)/(IV)*100 |
| A |
PROMOTER AND PROMOTER
GROUP |
| |
1. |
Indian |
| a. |
Individual
/ HUF |
0 |
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
| b. |
Central
Government / State Government(s) |
0 |
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
| c. |
Bodies Corporate |
3
|
57876500 |
57872800 |
59.77 |
59.77 |
0
|
0.00 |
| d. |
Financial Institutions
/ Banks |
0 |
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
| e. |
Others |
0 |
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
|
Sub-Total A(1) : |
3 |
57876500 |
57872800 |
59.77 |
59.77 |
0 |
0.00 |
| |
2. |
FOREIGN |
| a. |
Individuals (NRIs
/ Foreign Individuals) |
0 |
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
| b. |
Bodies Corporate |
0 |
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
| c. |
Institutions |
0 |
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
| d. |
Others |
0 |
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
|
Sub-Total A(2) : |
0
|
0 |
0 |
0.00 |
0.00 |
0 |
0.00 |
| |
|
|
|
|
|
|
|
|
| |
Total A=A(1)+A(2) |
3 |
57876500 |
57872800 |
59.77 |
59.77 |
0 |
0.00 |
| B |
PUBLIC
SHAREHOLDING |
|
|
|
|
|
|
|
| |
1. |
INSTITUTIONS |
| a. |
Mutual Funds /
UTI |
11 |
56783 |
0 |
0.06 |
0.06 |
|
|
| b. |
Financial Institutions
/ Banks |
10 |
27100 |
3050 |
0.03 |
0.03 |
|
|
| c. |
Central Government
/ State Government(s) |
0 |
0 |
0 |
0.00 |
0.00 |
|
|
| d. |
Venture Capital
Funds |
0 |
0 |
0 |
0.00 |
0.00 |
|
|
| e. |
Insurance Companies |
0 |
0 |
0 |
0.00 |
0.00 |
|
|
| f. |
Foreign Institutional
Investors |
6 |
157630 |
144830 |
0.16 |
0.16 |
|
|
| g. |
Foreign Venture
Capital Investors |
0 |
0 |
0 |
0.00 |
0.00 |
|
|
| h. |
Others |
0 |
0 |
0 |
0.00 |
0.00 |
|
|
|
Sub-Total B(1) : |
27 |
241513 |
147880 |
0.25 |
0.25 |
|
|
| |
2. |
NON-INSTITUTIONS |
| a. |
Bodies Corporate |
846 |
7328339 |
6071020 |
7.57 |
7.57 |
|
|
| b. |
Individuals |
|
|
|
|
|
|
|
| |
i. Individuals holding
nominal share capital upto Rs.1 lakh |
61043 |
19661175 |
15304088 |
20.30 |
20.30 |
|
|
| |
ii. Individuals
holding nominal share capital in excess
of Rs.1 lakh |
233 |
9402088 |
9168288 |
9.71 |
9.71 |
|
|
| c. |
Others |
|
|
|
|
|
|
|
| |
TRUSTS |
4 |
73183 |
72983 |
0.08 |
0.08 |
|
|
| |
NON RESIDENT INDIANS |
3983 |
2126931 |
1387531 |
2.20 |
2.20 |
|
|
| |
FOREIGN BODIES |
1 |
16867 |
16867 |
0.02 |
0.02 |
|
|
| |
CLEARING
MEMBERS |
126 |
112017 |
112017 |
0.12 |
0.12 |
|
|
Sub-Total B(2) : |
66236 |
38720600 |
32132794 |
39.98 |
39.98 |
|
|
|
Total B=B(1)+B(2) : |
66263 |
38962113 |
32280674 |
40.23 |
40.23 |
|
|
| Total
(A+B) : |
66266 |
96838613 |
90153474 |
100.00 |
100.00 |
|
|
| |
|
|
|
|
|
|
|
| C |
Shares
held by custodians, against which Depository
Receipts have been issued |
0 |
0 |
0 |
0.00 |
0.00 |
|
|
|
GRAND TOTAL (A+B+C) : |
66266 |
96838613 |
90153474 |
100.00 |
100.00 |
0 |
0.00 |
Ladies
and Gentlemen,
I extend to each and everyone of you a warm
welcome to the Twentieth Annual General Meeting
of your Company. I hope that the Annual Accounts
and the Directors' Report for the year ended
June 30, 2009 which have been with you for sometime
now have given you a clear idea of the working
of the Company during the year under review.
The
growth momentum carried over from the previous
year imploded during the first half of the year
under review. A meltdown in the financial system
of the developed economies impacted economies
world wide. During this time, the world also
witnessed unprecedented volatility in crude
oil price, with prices touching a high of USD
147 per barrel in July 2008 which then crashed
to USD 35 in December 2008. Currently crude
oil is hovering in the range of USD 68-75 i.e.
almost half of the July 2008 level.
The
Indian economy was also impacted by this financial
meltdown with annual growth declining from 9%
in 2007-08 to 6.7% in 2008-09. However, the
Indian economy, which is largely domestic oriented
with high savings and investments playing a
pivotal role in financial growth, showed resilience
in the wake of global slow down.
The
Government's stimulus package also provided
impetus to growth resulting in dramatic turn
around in the demand pattern of your Company's
products. Polystyrene after seeing a negative
growth of 16% in the first six months on year
on year basis finally ended on a positive note.
The growth witnessed in the domestic Polystyrene
market in the second half of the year under
review coupled with various steps taken by your
Company saw your Company close the financial
year ended on June 30, 2009 with a pre-tax profit
of Rs.35 crores.
The
outlook for the current year is positive for
your Company's products in both domestic as
well as overseas markets with major world economies
showing signs of a turn around. After witnessing
lower demand due to slow down in overseas markets
the export markets now see a sign of revival.
This is also helped by the rationalization of
Polystyrene capacities all over the world which
is creating opportunities for your Company in
many countries where your Company is an active
participant.
Your
Company as a policy is focusing only on the
markets which provides better net back and avoiding
low margin exports. In light of this policy
the Company exported 50307 MT only during the
year under review against 71371 MT exported
in 2007 - 08. Your Company received almost double
the net back over Styrene Monomer cost during
2008 - 09 as compared to 2007 - 08.
The
domestic Polystyrene market is expected to grow
by 8% in 2009-10. Estimates indicate that rural
markets will contribute substantially to the
demand for consumer durables, stationery, imitation
jewellery etc. thereby increasing demand for
Polystyrene. The revival of the monsoon in most
parts of the country resulting in reduction
in the monsoon deficit is a good sign for demand
revival. As a consequence of lower raw material
prices and excise duty, prices of Polystyrene
were reduced and that helped in boosting demand
in the last six months of year under review.
Your
Company has increased its presence in the speciality
polymers business including Masterbatches and
PP compounds in India as well as in the overseas
markets. Installed capacity for speciality polymers,
Masterbatches and PP compounds now stands increased
to 25,000 tpa. With India becoming an auto manufacturing
hub the future of this business looks very promising
and your Company with its wide range of compounds
and Masterbatches would be able to capture the
market for its products.
Your Company has recently entered into an MOU
with a leading manufacturer in Italy for access
to their manufacturing technology for state-of-
the-art high end additive Masterbatches. MOU
also provides for promoting your Company's range
of Masterbatches in many parts of Europe. Your
Company plans to increase its market for speciality
polymers products to 17,500 MT during 2009 -
10 from 9,443 MT in 2008 - 09.
Upswing
in the appliances, automobile and fisheries
sector has increased the demand for EPS for
packaging in the country. India has huge untapped
potential as compared to other Asian Countries
for EPS consumption, particularly in the areas
of packaging including packaging of perishable
goods, insulation of cold rooms, in bindings
for wall panels and sandwich panels. Your Company's
project for increasing capacity to 27,700 tons
p.a. is on schedule and is expected to be on
stream by December 2009. EPS demand in the country
is growing @ 15%. The deficit in supply is currently
being met by imports. Considering the demand
growth it is expected that the increased capacity
would be fully sold in the domestic market.
The Extruded Polystyrene Insulation Board (XPS)
Plant is commissioned. This plant is the first
of its kind in India. With increasing awareness
of benefits of green buildings, the demand for
this product would slowly but steadily grow
in the Indian market. XPS has export market
demand in Gulf countries, Australia and New
Zealand where insulation of buildings is now
mandatory. Your Company is the first mover in
this segment and expects to earn better margins
through this product
Your
Company's plant has an installed capacity of 5,000
MT. This being a new product, your Company hopes
to achieve a capacity utilization of 15% in the
first year of operations of XPS. With increased
awareness of the product and emphasis on green
building movement the capacity utilization will
grow in the coming years.
Availability
of Styrene Monomer has eased in this region with
the commissioning of plants in Saudi Arabia and
Kuwait with a total capacity of 1.15 million tpa.
Styrene Monomer availability position would further
improve with the implementation of Iran's SM plant
of 400 KTA by March 2010. This gives your Company
some freight advantage, helps in inventory management
and also safeguards against sharp price movements.
Globally restructuring in the Styrene Monomer
manufacturing capacities has started with uneconomical
plants closing down in U.S.A. and Europe.
After
completing the detailed review of technology package
with the licensors for Cup Grade EPS, detailed
engineering work has started. Civil engineering
has commenced and release of construction drawings
is expected from November 2009. Procurement action
for all critical equipment is initiated. The schedule
for mechanical completion of this 20,400 TPA capacity
plant is December 2010 with production starting
in January 2011.
With
the availability of Gas and the likely increase
of power & steam requirement for the proposed
EPS project, studies have been conducted to optimize
the energy costs by captive steam/ power integration.
Accordingly, as a first step, we propose to install
a Modular Gas Engine based power plant generating
about 3500 KVA with a heat recovery potential
of about 1.5 T/ hr of steam. The project will
go on stream by December 2010. On successful completion
of this plant your Company shall increase the
capacity of gas based power plant to meet 100%
needs of its Nagothane complex. The investment
in the first phase is estimated at Rs.14 crores
with payback in about three years.
Port
project of your Company is not progressing due
to various local issues. Of the total land of
64.4 hectares required for the port, land admeasuring
26.5 hectares is in your Company's possession.
Continuous efforts are being made to acquire the
balance land for the project and also for the
approach road.
With the implementation of projects for value
added products such as Speciality Polymers, Expandable
Polystyrene, Extruded Polystyrene Insulation Board
& EPS Cup Grade, your Company is targeting
a higher share from such value added products
in its turnover of manufactured products. We estimate
that by 2011 - 12 these value added products may
constitute over 30% of total turnover of manufactured
products gradually increasing over the next two
years from a share of 9.5% in 2008 - 09.
I am extremely grateful to my fellow members on
the Board for their valuable guidance. I convey
my appreciation to executives, staff and workmen
for the unstinted support extended by them. I,
on behalf of the Board of Directors sincerely
appreciate the encouragement and cooperation received
by the Company from customers, bankers, shareholders
and suppliers during the entire period.
Thank you.
M. P. TAPARIA
Chairman.
Date : October 6, 2009
This
does not purport to be a record of the proceedings
of the Annual General Meeting.
|
