1996
PIONEER AGRO EXTRACTS LIMITED
Chairman's Message
It gives me a great pleasure to extend to you all a cordial welcome to this
fourth Annual General Meeting of your company. I am extremely happy to
report that for your company, the year under review was very eventful, and
satisfying with creditable and remarkable achievements.
Commissioning up of new physical refinery of 30 TPD new vanaspati unit of
20 TPD, 10 TPD of stearic Acid unit, was a landmark in the annals of the
company.
Oxygen plant with capacity of 150 cylinder per day shall shortly commence
production.
Company had to face stiff competetion Nevertheless has withstood the
challange on the basis of strict quality control & better marketing
policies. With the demand of the product on the rise company shall have no
problem in marketing the additional production in the market. Company's
motto is customer satisfaction and with its yearn for producing quality
products, the future looks promising & rewarding.
I would now set down the highlights of your company's accomplishments and
initiatives during the year under review.
* Turnover rose to 5169.98 lacs up from 2438.29 lacs in the previous year
registering a growth of 112%.
* Profit after tax rose by 47% from 69 lacs to 100.83 lacs.
* Company started commercial production for the following :
1) 20 TPD Vanaspati
2) 30 TPD Refinery
3) 10 TPD Stearic Acid
* Commercial production of oxygen section is on the anvil and it shall
start by October 96.
I assure shareholder that company shall continuously strive for providing
better quality product to the consumers, and better results to you. With
your co-operation your company will grow from strength to strength.
In conclusion, I take this opportunity to express gratitude on behalf of
the company and on my own behalf to financial institutions, Banks for their
unstinted support and co-operation and look forward to the same in the
coming years.
M.P. Aggarwal
Chairman