Amal Ltd 2018-19

Amal Ltd | Annual Report 2018-2019 Letter to the shareholders Fellow Shareholders, We are happy to share with you how we have endeavoured to prioritise our efforts to shape our Company. Our first priority was to stop the losses our Company kept incurring from 2003-04 to 2014-15 (except a small profit of ` 0.4 cr in 2013-14) and make it consistently profitable without incurring huge expense or making a large fresh investment. We directed our effort to streamline the manufacturing operations to achieve higher capacity utilisation required for chemicals such as Sulphuric acid, Oleum, Sulphur dioxide and Sulphur trioxide. With this largely in place, from 2015-16 our Company started generating profit consistently. However, there are still accumulated losses of ` 18 cr as at March 31, 2019. While our Company achieved improvement in its performance, there is more work to be done to further improve existing operations, and we are working on a few initiatives. With having improved operations sufficiently, our second priority is to seek growth – in addition to the above, our effort at this time is to evaluate logical and reasonably risk free investment with good RoCE – we will inform you once we move ahead decisively with this investment. We value the commitment and perseverance of our team members who are engaged in strengthening our Company and thus creating value for the stakeholders. We are grateful to the Non-executive Directors for their involvement, analysis and guidance. As always, we are grateful to you for your faith and patience – we know that you have waited rather long for dividend and appreciation beyond the current share price. We assure you our best in growing our Company. Sincerely, (Rajeev Kumar) (Sunil Siddharth Lalbhai) Managing Director Chairman Office building at Ankleshwar, Gujarat