Dear Shareholders,
Greetings!!
I hope you & your loved ones are safe & healthy. It is a great pleasure to
connect with you at the end of another eventful financial year 2021-22. We live in a fast
-changing times where in more responsive we are to these changes the better prepared we
will be for the future. The "Customer first approach" has stuck an emotional
chord with the customer and stakeholders which will pave the way for the future. Your
company adopted austerity measure & saved cost & drove cash flow to deliver
healthy balance sheet.
The Company was able to grow the top line & deliver a healthy bottom line. The
Company registered improved profit margin by enhancing productivity levels, optimizing
costs & improving product mix.
Your Company has also chalked out a plan to de-risk the business by reducing the
reliance on a single sector i.e., Automotive & Industrial Sector by entering new
segments such as import substitute solvents & chemicals, turn key projects etc.
Your Company has long since build ecological sustainability practices with its
operations & ways of working. On behalf of the Board, I convey our gratitude to all
the stakeholders, business associate & the Central & State Governments for their
co-operation & support. We would like to thank CPL staff for their strong resolve
& commitment. Let me express my deepest gratitude to each of our shareholders.
Our customer-centric approach, future ready strategies and adherence to the core values
of Quality Endurance and Passion led us to post our performance so far. The Government
"Make in India" & "Vocal for Local" policy aims to make India a
global manufacturing hub in which we are taking steps to contribute our best possible.
The continuous fluctuation in the Global Crude Oil Prices & US Dollar fluctuations
has resulted in increase in prices of base oils, other petroleum products etc., however we
have tried our best to maintain optimal stock level of base oils & optimal usage of
available storage tank space.
The Company reported a resilient financial performance for the FY 2021-22 with the
revenue from operations improving by 21.62 % at INR 121.21 Cr. approx. against the
previous year. The topline of your company has gone up by 1.22 times on year-to-year basis
and which led to increase in Net Profit after tax by 1.51 times on year-to-year basis. EPS
(Basic and diluted) for the FY 2021-22 is 7.32 (on a Face Value per/share Rs.5.00- Split
Date 28th September 2020) compared to FY 2020-21 was 4.01 (on a Face Value per
/share Rs.5.00). We have expanded our customer base in the bulk sales, manufacturing
segment through Industrial Lubricants which include Metalworking, Rubber Process Oils
& specialty lubricants through a value selling approach.
Common Treatment Disposal /Incineration Facility (CTDF) project has been modernized
& capacity has been expanded from 4500 MTA to 6030 MTA for various Industrial waste
feeds viz. Solid, Liquid and Aqueous Wastes after obtaining Environmental Clearances from
the Ministry of Environment & Forest. Business revenues has contributed not only from
Rajasthan, also from our neighboring state Haryana for
which we have obtained the requisite permission. "Clean and Green Policy"
forms an integral part of the Company's culture & operations.
We have invested in the high precision quality control and product development
laboratory to meet global standards & OEM expectation. We hope to get the laboratory
NABL accreditation. We remain highly enthusiastic to tap into the awaiting opportunities
and continuously look out for newer business avenues.
Through all these efforts we are committed to prepare your Company for the future and
deliver sustainable value for our various stakeholders & shareholders. We extend our
gratitude to B2B customers, distribution partners, suppliers, bankers and our supportive
fraternity of shareholders for their continuous trust and support. We continue to rely on
your whole -hearted support as we pledge to drive your company to a future with high
performance and success.
I look forward to your continued trust confidence & support. I welcome you all to
this virtual AGM.
With my best wishes.
Madan Lai Khandelwal