bhansali engineering polymers ltd Management discussions

Dear Shareholders,

I am extremely happy to be presenting the Annual Report 2022-23 of the Company. The operational revenue (net of GST) is

? 1,36,255.66 lakhs and PBT at ? 19,479.24 lakhs. After accounting for taxes of ? 5,886.36 lakhs, the profit from continuing operations is ? 13,592.88 lakhs whereas the total comprehensive income is ? 13,562.91 lakhs. During the fiscal,Sales volume has been impressive and stood at 73,388 MTS as against 59,575 MTS for FY 2021-22, registering a growth of 23.19%. The higher sales volume was on account of optimum capacity utilisation of 96.71% i.e. 72,529 TPA of the rated capacity of 75,000 TPA of ABS and Saleable SAN.

The operations of the Company have to be viewed in the light of the Global economic activity experiencing a slowdown, with inflation higher than seen in several decades. The cost-of-living crisis, tightening financial conditions in most regions, Russias confilict with

Ukraine continues to overshadow the world economy. The World is entering a phase of recession.

The scenario of subdued global growth is combined with couple of silver linings – oil prices are expected to stay low and Indias

Current Account Deficit may ease as compared to current projections. The overall external situation will remain manageable. Further,

Indian Rupee is now going global as 18 countries have agreed to trade in Rupee, which will reduce the trade related transaction costs, boost trade and reduce Indias trade deficit.

I take this opportunity to applaud the efforts made by the management under the dynamic leadership of Shri. B. M. Bhansali, Managing Director. I would also like to place on record the sincere efforts of the Board members. Finally, my gratitude to the shareholders without whom the Company has little meaning.

The golden period is not behind us: it is today, tomorrow and the day after.

Thanking you and with my deepest regards.

M. C. Gupta Chairman