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Andhra Paper Ltd.

BSE: 502330 Sector: Industrials
NSE: ANDHRAPAP ISIN Code: INE435A01028
BSE 00:00 | 24 Apr 2020 Andhra Paper Ltd
NSE 05:30 | 01 Jan 1970 Andhra Paper Ltd

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OPEN 200.80
PREVIOUS CLOSE 191.80
VOLUME 545
52-Week high 464.00
52-Week low 115.00
P/E 4.08
Mkt Cap.(Rs cr) 734
Buy Price 184.50
Buy Qty 25.00
Sell Price 185.50
Sell Qty 100.00
OPEN 200.80
CLOSE 191.80
VOLUME 545
52-Week high 464.00
52-Week low 115.00
P/E 4.08
Mkt Cap.(Rs cr) 734
Buy Price 184.50
Buy Qty 25.00
Sell Price 185.50
Sell Qty 100.00

Andhra Paper Ltd. (ANDHRAPAP) - Chairman Speech


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Company chairman speech

Dear Shareholders

I have mixed emotions as I write to you regarding our company results and position for FY 2019. I am happy to report that it was a year that included many record best performances for IP APPM. We have delivered our best-ever financial performance driven by record sales with efficient mill and business operations and record profits. The great team of leaders and people of IP APPM have dedicated themselves to improving company performance and they have done it again in FY 2019. My mixed emotions come from the news that International Paper Co. announced the sale of its controlling interest in IP APPM to West Coast Paper Mills Ltd. This may be the last annual report as IP APPM but I am very confident that this business is well positioned to succeed in its future with West Coast.

We continue to move in the right direction to create more value for our customers. Our customers depend on us to enable their own business success. They need our paper to print to publish to convert and to sell. During FY 2019 we improved our OTIF delivery rate (On-Time-In-Full) to ~93% top tier in the Indian paper industry. With new and innovative products and service solutions we can ensure that we provide the best possible value to our customers and further solidify our partnerships.

Our employees have driven the performance of the company: from sales to operations from procurement to finance and all of the functions needed to make our business work. We depend on our people so we invest in our people. From leadership training to new job assignments from six-sigma skills to precision maintenance we are investing in our people to develop better capabilities to improve the business performance. We match leadership and skills with proven processes to drive improvements. Good examples are safety and mill productivity. Employee safety is managed under the Safety Leading Indicators program and results have improved by 20%. We are getting closer to the ultimate goals of zero safety incidents. Our productivity improvements are enabled by people using our Manufacturing Excellence programs which created record pulp and paper production in FY 2019.

Our forestry team has further enhanced our strategy for sustaining forests enabling long term access to cost competitive fibre. Sustainable low cost fibre is critical to our strategy and the health of the paper industry. We are partnering with R&D scientists private growers and the farming community to develop clones that increase yield thus creating value for both IP APPM and the extensive farming community linked to our business.

We care deeply about the environment so we have developed a long term plan for sustainability that will reduce our environmental impact over time and help to improve our planet. In the short term we take deliberate efforts to improve our use of water chemicals and energy as well as improve our stack air emissions and solid waste disposal. We are accountable for our environmental impact and take responsibility for making improvements. We have delivered an inspired performance for FY 2019. Our stock price appreciation of ~40% over the year reflects record financial results and a strong balance sheet that positions the company well for the future.

I would like to extend my gratitude and appreciation to our Board of Directors the IP APPM leadership team and our employees for their support and commitment. I believe our future for IP APPM is bright.

Sincerely

Donald P. Devlin

Chairman & Managing Director

   


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