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Tinplate Company of India Ltd.

BSE: 504966 Sector: Metals & Mining
NSE: TINPLATE ISIN Code: INE422C01014
BSE 00:00 | 24 Apr Tinplate Company of India Ltd
NSE 05:30 | 01 Jan Tinplate Company of India Ltd
OPEN 83.75
PREVIOUS CLOSE 85.05
VOLUME 22737
52-Week high 163.95
52-Week low 56.50
P/E 8.99
Mkt Cap.(Rs cr) 859
Buy Price 82.00
Buy Qty 100.00
Sell Price 83.60
Sell Qty 200.00
OPEN 83.75
CLOSE 85.05
VOLUME 22737
52-Week high 163.95
52-Week low 56.50
P/E 8.99
Mkt Cap.(Rs cr) 859
Buy Price 82.00
Buy Qty 100.00
Sell Price 83.60
Sell Qty 200.00

Tinplate Company of India Ltd. (TINPLATE) - Chairman Speech


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Company chairman speech

DEAR SHAREHOLDERS

It gives me immense pleasure to present you the 100th Annual Report of yourCompany along with the financial and operating performance for the financial year2018-19.

After strong growth in 2017 and early 2018 global economic activity slowed notably inthe second half of 2018 reflecting a confluence of factors affecting major economies.Conditions have eased in 2019 as the central banks signalled a more accommodative monetarypolicy stance. However global growth in 2019 is expected to be slow compared to 2018.Across all economies the imperative is to take actions that boost potential outputgrowth improve inclusiveness and strengthen resilience. Additionally there is potentialupside from an early and positive resolution of the US-China trade disagreement.

In the last fiscal the Indian economy slowed marginally due to declining growth inprivate consumption and muted exports though it continues to remain one of the fastestgrowing major economies of the world. Economic momentum is expected to remain steady thisfiscal.

Robust government spending should support growth as should looser monetary policy andgreater political certainty following the elections.

However weak public finances and global trade protectionism both weigh on prospects.The demand for tinplate has however remained stable driven by paints processed foodaerosol cans and export of crowns.

During the financial year under review your Company achieved its highest everproduction and overall sales although ETP sales performance has marginally declined due tolower exports in the first quarter of the fiscal. The Company was also bestowed theprestigious Award for Excellence in Consistent TPM Commitment for 2018 by JIPM. TheCompany's turnover has increased since the Company is now procuring its raw material onits own account and has discontinued the conversion arrangement with Tata Steel. TheCompany's profitability in FY 2018-19 declined compared to that of the previous financialyear due to higher raw material costs. In spite of the decline in profit the Board ofDirectors of the Company have recommended the same rate of dividend.

In the present competitive environment strategic cost reduction and efficient workingcapital management will play a pivotal role in achieving the desired level of performance.In order to improve market-share in metal packaging the Company continues to focus onbusiness development and promotion with brand owners. The Company's leadership team willcontinue to work towards making the enterprise more efficient profitable and valuecreating in future while ensuring a safer workplace for its employees and serving thecommunity at large. I may add here that with increase in domestic competition and entry ofsubstitutes the margins in the business may come under strain for which your Companywould place greater efforts on cost reduction new product development along withincreased focus on customer satisfaction.

In addition the Company will continue to invest in technology to meet its qualitycost environment and safety objectives.

On behalf of the Board of Directors of the Company I sincerely thank all theshareholders for their continuous trust and support towards the Company. I also thank therespective Unions for their efforts and contributions. I take this opportunity topersonally thank all the stakeholders and business associates who have continued to reposefaith and confidence in the Company and to reassure all stakeholders that the Companyremains committed to creating long-term value.

Yours sincerely

Koushik Chatterjee

Chairman DIN.00004989

Kolkata April 15th 2019