CMD's Independence Day Speech
Today we are celebrating the 74th year of Independence. My heartiest Independence Day greetings to each and every one of you.
On this occasion, I gratefully remember the freedom fighters who sacrificed their youth and lives for the freedom of our Nation. On 15th August, 1947 our Nation got freedom after long struggle by our fore-fathers. Our heroes took un-believable sacrifices and shed their precious blood so that we have a better quality of life enjoying our freedom and rights. The debt of gratitude that we owe to them cannot be repaid. I pay my respectful salute to all the noble freedom fighters of our Nation.
These days, we are going through a very tough time due to Covid-19 spread all around the world. It has affected everyone. The economic activities have been slowed down; people are losing their life and many people have been affected due to corona virus. Our movements have been restricted due to various lockdowns declared. Nevertheless Government is taking all its measures to contain the spread of this virus and save the human life. You will remember the slogan by our Hon’ble Prime Minister that; “Jaan he toh Jahan he”. Therefore, we have followed all the directions given by the Government of India from time to time and we have not compromised with the safety and security of our employees.
Nation is fighting with this pandemic for last four months and now the time has come when we have to bring back the economy into track, taking into account all the safety measures required. Therefore our Hon’ble Prime Minister has again made an appeal that; “Jaan bhi, Jahan bhi ”. It is a time when we must salute the Covid warriors who saved our lives by putting their lives into risk.
We also displayed our commitment towards our society and welfare of our employees during the times of pandemic. We donated Rs.50 lakh towards PM Cares for the fight against spread of Covid-19. We also supported local administration in the fight against Covid. We have offered our MKK Nayar hall with cots, beds, etc. to Eloor Municipality for Covid First Line Treatment Center. Company has contributed provisions for the community kitchens organized by local administration at UC and CD area. And also donated washine machine to Vadavukode-Puthencruz Grama Panchayat at Cochin Division for Covid First Line Treatment Centre. Company is giving 1.6 million liters per day drinking water to residents of Eloor Municipality, as requested by local administration.
FACT has also taken steps to ensure the safety and welfare of its employees. All necessary precautions mandated by Government has been implemented. Thermal scanning is carried out at all gates and entry of guests were minimized. Quarantine facility is provided for employees.
You will appreciate that our Company could handle this challenging situation in a tactful manner and we could perform with minimum damage. The pandemic had affected the dispatch / production to a small extent and mainly annual maintenance activities were affected. We were also forced to cancel few of our raw material shipments. But with the efforts of our employees, Company could perform well even in the times of pandemic.
I am happy to say that with our dedicated efforts, last year has been a milestone in the history of FACT. We could turnaround the Company. The physical and financial performance of our Company was one of the best.
FACT has come up with vibrant colors by showcasing excellent performance during the financial year 2019-20.
- We could achieve one million metric tonne of fertilizer production and sale.
- We could generate profit from operations for the year and Company has posted a net profit of Rs.976 crore for the year ended 31st March, 2020, after considering the income from land monetization to Govt. to Kerala.
- The turnover touched Rs.2770 crore during 2019-20 financial, an increase of about 42% from previous years Rs.1955 crore.
- Factamfos production, which touched 8.45 lakh MT, is an all-time high record surpassing the previous best of 8.38 lakh MT during 2000-01.
- Ammonium Sulphate production of 2.21 lakh MT is the highest in the last 19 years.
- Total fertilizer sale of 11,17 lakh MT is a record in last 18 years.
- All time high Factamfos production at Cochin Division (6.4 lakh MT) surpassing the previous best of 6.33 lakh MT in 2000-01.
- FACT, Cochin Division was awarded “Sreshta Suraksha Puraskar” for the outstanding safety performance among very large industries in Kerala, from National Safety Council, Kerala Chapter.
- FACT Udyogamandal Complex gets ISO 50001:2018 certification.
- During the year, Company could successfully complete Caprolactam plant trial runs.
- As a part of expanding the marketing operations to Pan-India, Company has started fertilizer marketing operations in West Bengal, Orissa & Maharashtra. Company is planning to extend the operations to Bihar & Gujarat.
- This was possible only with the dedicated efforts by all our employees. I want to thank each and every one of you for your contribution.
We could also keep up the excellent momentum in performance this year also. Even with the spread of pandemic and lockdown, tire-less efforts by our employees has yielded great result.
- We could achieve good marketing and production performance even with the restrictions due to Covid-19 lockdown. Fertilizer sales until July reached 3.7 lakh MT against 2.4 lakh MT during the same period last year, an improvement of 54%.
- Total fertilizer production till July, 2020 has reached 2.9 lakh MT.
- The financial rating agency has upgraded the rating of FACT.
- Company has taken necessary steps to execute the proposed CAPEX plans.
- Company has also taken steps to restart the Caprolactam plant. We are awaiting for the approval from Dept. of Fertilizers for recruitment of manpower.
- We have already ordered three shipments of imported fertilizer to meet the demand of fertilizers. We are planning for more imports.
- Along with expanding our markets to Northern States, Company could start costal shipping of fertilizer, enabling saving in transportation costs and ease in logistic.
- The reconstruction of SCB has been a concern as it is crucial for importing Ammonia. From the initial planned expenditure of Rs.20 crore, which has been brought down to Rs.5 crore only. Balance funding will be done by Sagar Mala and COPT.
- We also improving the conditions of service of our employees through review of various policies.
I hope that these attempts will further motivate our employees to achieve higher productivity. It is noteworthy that FACT has emerged stronger and healthier. We are scaling new heights. I do have full faith in your team work and experience. FACT is bouncing back to the old glorious days. We are heading to a bright and prosperous future.
I once again thank all our employees for their dedicated efforts for the great performance of our organization. Even with the challenges faced daily due to pandemic, all of you showed dedication towards the service for the Company.
I would also take this moment to thank all the support by Central and State Governments, Local Administration, Police and Health departments for their support and co-operation to FACT for our smooth operation.
CISF also deserves appreciation for their endeavors for ensuring safety of employees, security and maintaining law and order within the Company.
I am sure, we will face all the challenges in future too, with utmost dedication and determination. All of us must take a firm resolution to take FACT to a greater height. Let this be our Independence Day resolution.
On this occasion, let us reaffirm our commitment to the Nation and to rededicate ourselves to bring back the past glory of FACT and make FACT leader in the field of complex fertilizer. Let us also dedicate ourselves for providing the best quality of fertilizer to our proud farmers.
I wish each one of you a happy Independence Day and wish you and your family to stay safe and healthy.
Chairman & Managing Director