PUNJAB CHEMICALS AND CROP PROTECTION LIMITED
ANNUAL REPORT 2011-2012
Dear Shareholders, Namaste!
It`s my pleasure to communicate with you through this column to share the
performance of the Company in the year gone by.
A crippling combination of factors ranging from the Rupee`s fall, global
economic turmoil, a poor investment scenario and poor growth numbers during
2011-12 have conspired to weaken not only the Indian Economy but also
affected the Indian Corporate segments. Inspite of this, the year 2011-12
was very momentous for PCCPL wherein the Company has surpassed many
challenges completed some of the tasks taken in hand last year and made
some progress in its initiatives to prune the debt of the Company.
During the year, the Company restructured its overall debt with the
permission of the Corporate Debt Restructuring Empowered Group (CDR-EG),
divested its few overseas subsidiaries and arranged Rs. 50 crores by way of
capital to support the working. These steps have helped the Company to
shift its focus from financial aspects to operational aspects. The details
of these initiatives have been explained in the Director`s Report which
will definitely clarify the situation and reasons for these initiatives of
the Management of the Company.
Now, the Company is putting more thrust in formulating strategies for
reducing the cost structure by enhancing the productivity, efficiency and
effectiveness in running all the plants at their maximum level. The
management of the Company is working hard to get back to deliver
predictable performance and to capitalize all the available opportunities
by demonstrating superior operational performance.
I, further assure that the Company is now entirely positioned to build upon
capabilities to sustain and take the leap forward. However, I am also
realistic about the scale of the challenge and it will take time to get us
to where we need to be, but I am confident that our efforts will ultimately
I am thankful to you, the shareholders, for your constant faith in the
Company. I am confident that with your continued support and the strategic
repositioning of your company, 2012-13 will turn out to a year of Revival
With warm regards and New Years` Greetings.