Annual Report 2000-2001
Myller and Phipps (India) Limited
Chairman's Statement
Ladies and Gentlemen,
On behalf of the Board of Directors and myself I extend to all of you a
very cordial welcome to the 84th Annual General Meeting of your Company.
The Notice convening the meeting, the Directors' Report and the Audited
Accounts for the year ended March 31, 2001 have been with you for some time
now and with your permission I will take them as read.
OPERATIONS FOR THE YEAR:
During the year your Company has made a profit of Rs. 176.21 lacs post tax,
after taking into account one time payment to the factory workers, staff
under VRS and also writing off of certain old debit balances of the
principals. The above profit also includes consideration for sale of Brand/
Technology.
We are happy to inform you that during the current year we are maintaining
profitability on month-to-month basis and expect reasonable growth in the
turnover and profit during the year, despite adverse market conditions.
FUTURE PROSPECTS:
The future prospects of your Company are promising as a strategic alliance
has been finalized with Dorcas Market Makers Limited, manufacturers of
Medimix Ayurvedic Soap for whom we are the distributors for all the
territories except Southern Region. We have also assigned the cuticura
Brand to them in return for distribution of Cuticura Talc for all the
States except the Southern region which will result in higher volume of
Cuticura products during the year.