Annual Report 2011 - Ballarpur Industries Limited

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onds) and is listed on the Singapore Stock Exchange. The proceeds from the issue of these bonds shall be used for repayment of existing debt and for capital expenditure needs of subsidiaries of BIGPH. This transaction was a pioneering effort. It was the first true US dollar denominated perpetual capital security from India; the first instance of an Asian issuer making a debut through issuance of a perpetual capital security; Asia’s first non-listed hybrid issuer; and Asia’s first non-investment grade US dollar new issue since May 2011. In another major development in 2010-11, your Company has acquired 100 per cent equity in Bangalore based Premier Tissues (India) Limited (PTIL) for an enterprise value of Rs. 66.67 crore. This acquisition gives a fresh lease of life to our tissue and hygiene business. It provides for synergistic growth. PTIL has a strong base in southern and western India, while BILT focuses on the north Indian market. Also, the acquisition introduces two new brand ‘Premier’ and ‘Royal’ to BILT’s existing ‘Etiquette’ brand. While focusing on maximising shareholder value, your Company continues to remain committed to its pursuit of being a responsible and good corporate citizen. Being a forest based industry, we are very conscious about sustainability of resources and development of communities in the deep hinterlands. In several ways, BILT has taken steps that stand out as leading examples of sustainable and inclusive development. I urge you to read the chapter on Corporate Social Responsibility regarding your Company’s initiatives in 2010- 11, based on the concept of ‘Voices of the Community’. Last year, I had written that having made several investments and successfully executed the paper capacity expansion projects, it was now time for BILT to prove its mettle on business execution and delivery. While the pulp integration activities are on course for timely completion, your Company has delivered healthy growth in revenues and profits in 2010-11 despite a fairly difficult market environment. This has strengthened your management’s conviction in BILT’s strategic positioning and execution skills. It is apparent that global economic conditions are uncertain and will remain so in the near term. Your Company has internalised this factor in its operations. Across all functions, the emphasis is on making incremental efficiency gains and institutionalising a culture of continuous improvements. We believe that there is considerable scope for low cost manufacturers to actually gain from the prevailing market conditions and use price competition to gain global market share, while maintaining dominance in local markets through well established strength of distribution. Finally, my thanks to all your Company’s employees, who have once again done a marvellous job. And to you, our shareholders, for believing in this business and being with us. We remain committed to enhancing shareholder value in every endeavour of our business. Gautam tHapar Chairman CHairman’s letter 9
10 management discussion & analysis o V erVIew The global economic revival continued through 2010- 11. During calendar year (CY) 2010, world economic output increased by 5.1 per cent against a fall in output of 0.5 per cent in CY 2009. The growth was driven primarily by the emerging and developing economies, which registered an increase in output of 7.4 per cent. Even the advanced economies turned around from 3.4 per cent drop in output in CY 2009 to register a growth of 3 per cent in CY 2010. However, macroeconomic conditions have become more uncertain in CY 2011. ballarpur industries limited | annual report 2010–11
Page 2 and 3: contents 02 financials 52 board of
Page 4 and 5: company information listing on stoc
Page 6 and 7: PAPER PRODUcTION (in mt) CAGR 14.24
Page 8 and 9: InDeeD, aS I wrIte this letter to y
Page 12 and 13: DurIng the fIrSt half of CY 2011, t
Page 14 and 15: India is highly fragmented with a m
Page 16 and 17: the mill has further reduced by 22.
Page 18 and 19: ha in 2010-11 with more than 800 ha
Page 20 and 21: Capacity expansion The status of ca
Page 22 and 23: TABLE 1 ABRIDGED PROfIT AND LOSS ST
Page 24 and 25: empowerment backed by strategic eng
Page 26 and 27: anIl D KhartoDe BhIgwan, pune Anil
Page 28 and 29: Veena chouDhary Illur VIllage, aSht
Page 30 and 31: indicators 2010-11 cOMMUNITY MOBILI
Page 32 and 33: BIlt IS leD By a strong and indepen
Page 34 and 35: TABLE 3 cOMPOSITION Of BOARD-LEVEL
Page 36 and 37: TABLE 4 DETAILS Of GENERAL MEETINGS
Page 38 and 39: cHART A BILT’S SHARE PERfORMANcE
Page 40 and 41: directors’ report Your Directors
Page 42 and 43: Rs. 66.67 Crore. PTIL is one of the
Page 44 and 45: which were filed on 22 December 201
Page 46 and 47: c. Back water tank pump supplying w
Page 48 and 49: 4. 7. Potential CDM projects/ Carbo
Page 50 and 51: to the members of ballarpur industr
Page 52 and 53: ANNExURE 1 in RS lACS Name of Statu
Page 54 and 55: PROFIt & lOSS accOUnt for the year
Page 56 and 57: ScheDUleS "a" tO "l" attached to an
Page 58 and 59: ScheDUleS "a" tO "l" attached to an
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ScheDUleS "a" tO "l" attached to an
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ScheDUleS "I" tO "VIII" attached to
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StateMent UnDeR SectIOn 212 OF the
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AuDITors’ reporT on ConsoLIDATeD
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ConsoLIDATeD proFIT & Loss ACCounT
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ConsoLIDATeD sCheDuLes "A" To "L" a
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ConsoLIDATeD sCheDuLes "I" To "VIII
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Annual Report 2011 - Ballarpur Industries Limited

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