For IPCL, the year 2005-06 marks four years of operations under the management of Reliance. These four years have been path breaking in several aspects.
Initiatives have been introduced to increase capacity utilization, improve integration, reduce operating costs and improve financial management. These have enhanced overall productivity and efficiency.
These measures have also resulted in continuous improvement in financial and operating performance on a year on year basis. In 2005-06, the turnover of your company crossed the USD 2 billion mark for the first time.
The net profit of IPCL crossed the Rs. 1,000 crore mark for the first time since inception. This is truly a remarkable achievement.
The focus to enhance capital, operational and human productivity has been the key to this achievement. Additionally, IPCL has enhanced its international competitiveness. Just to place these achievements in the right context, let me compare this with the figures in 2001-02.
This year, our revenues are Rs.12,362 crore (US$ 2,771 million) as against Rs. 5,527 crore in 2001-02 – an increase of 123 percent in four years. The net profit for this year is Rs. 1,164 crore as compared to Rs.107 crore in 2001-02 – an increase of 987 percent in four years.
The market capitalization of IPCL as on date is over Rs.8,404 crore as against Rs.2,073 crore as on March 31, 2002. This translates to a growth by 305 percent in just over four and a half years.
An addition of over Rs.6,330 crore to shareholders' wealth is a remarkable achievement in just a short time. This is just an indication of the immense potential of IPCL as well as the opportunities ahead for your company.
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