Sanghi Polyesters Ltd Share Price Management Discussions
SANGHI POLYESTERS LIMITED
ANNUAL REPORT 2007
MANAGEMENT DISCUSSION AND ANALYSIS
Operations:
During the year under review, the company has achieved a sales turn over of
Rs.24691.50 lacs with a production volume of 33,382 Metric Tons. The
company has reported a net profit of Rs.74.08 lacs as against a net profit
of Rs.10119.73 sacs of previous year.
One Time Settlement (OTS) Scheme:
The company has approached the Banks and Financial Institutions for
compromise settlement of its loans during the previous year. It had already
received the sanctions from most of the lenders for the OTS proposal
submitted. The Company implemented the OTS package in the books of accounts
during the previous year for the lenders who have sanctioned the proposal
in that year and the same has been done during the period under review for
the lenders who have given the sanction during this year. As a result, an
amount of Rs. 4712.76 lacs has been credited to Profit and Loss A/c under
the head Extra-ordinary Income. The Company had requested for extension
of time for the payment of OTS for the lenders whose sanctions have got
expired. The payment is made to all the lenders through refinance from the
new lender in the next accounting year.
Environmental & Pollution Control:
Your Company on an ongoing basis is monitoring environment and pollution
parameters at its plant at Sanghinagar. The Company has adopted several
measures like smoke precipitators, effluent treatment plants, planting of
trees etc., to keep the environment healthy; a matter of global concern
now. The actual values of parameters achieved by the plant are
substantially better than those specified by the pollution control
authorities. Your Company is determined to maintain and improve these
parameters in the years to come.
Industrial Relations:
The industrial relations continued to be cordial throughout the year. Your
Directors wish to place on record their appreciation for the excellent team
work with which the workers and officers of the company at ail levels have
contributed individuality and collectively to the impressive performance of
the Company.