Asian Petroproducts & Exports Ltd. - Outcome of Board Meeting - The Hindu BusinessLine
Company information, business information, directors/partners details and director/partners contact information of MEET PETRO PRODUCTS PRIVATE. M/s Daya Lubricants Pvt. Ltd. Building No. 11, Waliv M/s Shiva Petro Synth Specialities Ltd.,. Plot No. 2/3, Shah Meet Petro Products Pvt. Ltd. Gut No: . conclusion of the 28th Annual General Meeting and to fix their . Adroit Corporate Services Pvt. Ltd., Registrar & share Transfer Agent. 6.
Provides timely, accurate, competitive pricing on all completed prospect applications submitted for pricing and approval, while striving to maintain maximum profit margins. Maintains accurate records of all pricings, sales and activity reports. Implementing various promotional activities in order to increase sale. Insures that all sales personnel meet or exceed all activity standards for prospecting calls, appointments, presentations, proposals and closings.
Maintains contact with all customers in the domestic market to ensure high levels of customer satisfaction. Demonstrates the ability to interact and cooperate with all Company employees. Designs and recommends l sales and marketing programs.
Sets short- and long-term domestic sales strategies. Must be aware of domestic variances in cultural and legal issues pertaining to sales.
Should be familiar with state wise business concepts, practices, and procedures. Large scale import of cheaper LAB continued to wean away the domestic customers.
The increase in power cost coupled with uncertainties in uninterrupted supply was also another limiting factor to recover the fixed costs in full, adding to the losses. Due to inconsistency in the supply of power from the EB grid, CPP had to be operated continuously to avoid frequent interruptions, the cost of heavy re—start and also to meet the customer commitments. The Chlor Alkali Division producing Caustic Soda and Chlorine had to be operated at a reduced load due to lower demand and also storing and disposal issues of Chlorine.
The imports of caustic soda into India increased from 3.
The high cost of power which is the major production cost for the Division further reduced the margins and the Division continued to incur losses. The operations of the ECH Division continued to remain suspended and the effluent treatment services to Petro Araldite Private Limited, the joint venture company was also stopped as the latter also ceasing operations during the 2nd half of the year.
There was decline in the overall bank credit growth and also aggregate of bank deposits. The inflation also declined sharply mainly on account of lower crude oil prices and other steps taken by the regulators. During the year under review the finance cost was lower at Rs. This was made possible through lower borrowings and repayment of long term loans out of the proceeds from sale of property. LAB, a colorless organic compound is an intermediate chemical used in the manufacture of household and industrial cleaning agent and enjoys a good demand from the detergent industry as its basic raw material.
The applications for LAS have been further segmented on the basis of the end use namely heavy—duty laundry liquids, light—duty dishwashing liquids and laundry powders, industrial and household cleaners.
Heavy—duty laundry liquids are mainly used for commercial laundry purposes and are the most dominant application segment for LAS. It has been reported that the demand for household cleaners is expected to exhibit the fastest growth rate amongst all the application segments. Other niche applications of LAB include ink solvents, agricultural herbicides, wetting agents, emulsion polymerization, electric cable oil and the paint industry.
The cost of production of LAB in India had been relatively higher than the international standards mainly on account of higher cost of kerosene and quality issues relating to the feedstock. In the past domestic demand for LAB was being met fully through indigenous sources and a substantial quantity was being exported.
In the past two years, LAB imports in India were more than 2. The sudden spurt in LAB imports into India during the past few years is mainly attributable to globalization, economic slowdown witnessed all over the world and creation of new capacities in the Middle East.
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The domestic players could not compete with the overseas suppliers due to modern facilities of large capacities which ensured very low cost compared to the cost structure of your Company. The capacity in India was about The capacity is expected to increase to India has enough capacity to meet the domestic demand but due to dumping from overseas, the capacity utilization has been low. Chlorine, a co—product of Caustic Soda is widely used in sectors like Vinyl chloride, CPW, pulp and paper, water purification, chlorinated solvents, etc.
Chlorine demand will be a major driver for Chlor—alkali production rates and the reason for low capacity utilization is due to inadequate opportunity for Chlorine utilization; — Lack of integrated plants, and downstream chlorine utilization projects.
This has helped the detergent markets to reach remote areas, with the facility of visual advertisements. Moreover, consumers have privilege of choosing from wide variety of product range and hence the companies are constantly upgrading their products and make every effort to bring the utmost innovative advertising campaign to increase their share in the global market.
ASIAN PETRO-PRODUCTS & EXPORTS LTD.
Since these companies target the bottom of the pyramid market, there is a huge potential for the LAB industry to grow. However, India being an attractive market is targeted by the overseas LAB players and has resulted in increased imports to India. Also, a new plant which is likely to be set up in Bangkok will be a major threat to the company, with Chennai being the nearest port. These will have an impact on domestic pricing which is already reeling under pressure.
Caustic Soda continues to be an important industrial intermediary finding application in many industries. With the demand for textiles and apparels increasing on account of urbanization and more spending on personal effects, the market for Caustic Soda is expected to grow further.
However, unabated increase in cost of power is curbing the profitability of the domestic manufacturers. Because of the erratic weather conditions, salt prices are unpredictable. India has adequate capacity to meet domestic demand of caustic soda, but due to heavy imports at low price from other countries, industry operating rates are low. The per capita consumption of Chlorine in India is stated to be around 1.
However, this could happen only if substantial investments are made in the vinyl industry, the key end—user of the product. The problems of storage and disposal of Chlorine during peak demand for Caustic Soda are the major limiting factors for both Caustic Soda and Chlorine.
A risk management plan has been framed and implemented and monitored by the Board. As required under S. As part of the risk management plan, TPL has two employee—level Committees viz. The sub—committee brings out the matters that could affect the operations and the same are reviewed by the Apex Committee, which determines the issues that could become business risk.
The Committee which compirses Ms. Sashikala Srikanth as Chairperson, Mr. Muthukrishnan Ravi and Mr T. Due to the increasing transportation charges and bulk discounts offered to the customers in order to keep them intact, LAB realisation remains low.
The uncertainty of the normal paraffin imports and the fluctuating exchange rates is yet another major risk to the company. Chlor Alkali Division of TPL is a power intensive industry and hence the renewable purchase obligation, which is being challenged by the Company at the appropriate forum, could be a dampener in its efforts to bring down the power cost. Continuous dip in the chlorine prices, soaring cost of salt and transportation are adding to the woes.
To mitigate the risk of survival of Chlor Alkali Division in the long run, the input cost viz. Despite ever increasing LAB imports year on year, TPL has been continuously offering its best service to its customers, thereby keeping the customer base intact.
Asian Petroproducts & Exports Ltd. - Outcome of Board Meeting
During the year —15, LAB imports were around 2. TPL is also focussing on increasing the Normal Paraffin NP capacity to cut down its imports and capacity augmentation proposal is under implementation. It has been stated that the growth in many of developed regions will be slow. On the other hand, with the ongoing expansion projects, the caustic soda availability from the USA, Asia and Middle East will be threatening more with further increase in the imports into India, which is already affected by huge and ever—increasing imports.
The imports have more than doubled in about 4 years at 5. The imports during April were over 75, tons against 56, tons in the corresponding period of the previous year. It has been reported that the Indian industry is capable of meeting its domestic demand but because of high input costs and poor infrastructure, is not competitive internationally.
It also faces dumping of cheap imports from other countries like Iran, Saudi, South Korea, Japan, etc.