DIBRUGARH, Sept 16: The Brahmaputra Cracker and Polymer Limited (BCPL) chairman Sandeep Kumar Gupta said that the pasty financial year had been a challenging year for the company marked by spiraling feedstock price and relatively low polymer price.
He said this while addressing BCPL’s 16th annual general meeting held at Guwahati on Friday.
The chairman presided over the meeting, which was attended by Pruthiviraj Dash, director (Finance) and managing director (additional charge) and other members of the board and shareholders of the company.
In his address, Chairman BCPL expressed gratitude to the valued stakeholders for their continued support and confidence.
“2022-23 had been a challenging year for the company due to spiraling feedstock price and relatively low polymer price. Following a maintenance shutdown during the first quarter of the financial year and despite odds, the company was able to demonstrate healthy financial management with the external rating maintained at AA+ by CRISIL and Acuite Ratings,” said Sandeep Kumar Gupta.
Equity dividend of Rs 40.26 crore for FY 2022-23 was declared in the meeting.
Gupta also mentioned that the cmpany produced 2.52 lakh metric tons of polymers and 53,170 metric tons of liquid hydrocarbons during the year. BCPL’s captive Butene-1 plant was geared for completion in November 2024 and with it the concerns regarding sourcing of the raw material would ease. He also stated that plans for debottlenecking and capacity expansion were afoot. BCPL earned revenue from operation amounting to ₹3486.82 crore and EBITDA of ₹347.12 crore.
An amount of ₹ 25.27 crore was earmarked for corporate social responsibility activities during the fiscal with emphasis on projects in health and nutrition, promotion of education, skill enhancement, alternative livelihood promotion and entrepreneurship development, swachhata and sanitation, and rural development.