ia & ic chem pvt ltd share price Management discussions


I.A. AND I.C. CHEM PRIVATE LIMITED ANNUAL REPORT 2005-2006 MANAGEMENT DISCUSSION AND ANALYSIS Performance: The Sales and other income for the year ended 31st March, 2006 were Rs.585.96 lacs, against Rs.437.59 lacs of the previous year. The Company incurred a loss of Rs.247.51 lacs against the Profit of Rs.7.92 lacs in the previous year. The Company has incurred a loss due to the reduced margin in the products and increased cost of input, utilities, etc, ACQUISITION OF THE COMPANY: During the year under review Punjab Chemicals & Crop Protection Limited (PCCPL) acquired 7,90,000 Equity Shares representing 100% of Share Capital and Voting rights from promoter group of the Company for the total consideration of Rs.53.09 lacs. Accordingly the Company became the Subsidiary of Punjab Chemicals & Crop Protection Limited. AMALGAMATION: The Board of Directors of Punjab Chemicals and Crop Protection Limited (PCCPL) being holding Company has decided to amalgamate the Company into PCCPL with effect from 1st April, 2006. INSURANCE: The Company continues to carry adequate insurance cover for all its assets against foreseeable perils like fire, flood, theft, etc. and the Company continues to maintain the insurance as per the provisions of Public Liability Insurance Act. ENVIRONMENT MANAGEMENT & POLLUTION CONTROL: The required pollution control measures as required under`the relevant Acts are regularly carried out by the Company. The Company also continued to pursue its policies of creating and maintaining safe and healthy working environment. HUMAN DEVELOPMENT: The Company continued to adopt the practice and methodology of giving on the job training with thorough assistance.