CMD's ONAM Message
ONAM is just round the corner. Once again the spirit of the festival beckons us with all its happiness and affluence! On this auspicious occasion I wish all my colleagues in FACT a prosperous, colorful, healthy and wealthy ONAM!
This is my third ONAM in Kerala. Though ONAM, the state festival of Kerala, usually brings in an aura of festivities for Malayalees world over, the restriction due to the second wave of pandemic has dampened the festive spirit of ONAM.
It is disheartening to recall that the devastating pandemic took its toll on FACT employees stealing some lives of our beloved colleagues. My prayers are with those affected by the pandemic and let us hope that the Almighty may extend strength to them to overcome this calamity and bounce back to normal life soon.
FACT as a responsible corporate citizen always stands in solidarity with Society and extended all possible assistance to the country during the peak time of Covid-pandemic by setting up PSA Oxygen plants in the State of Kerala and Uttar Pradesh. We have also helped the nearby affected community by providing food items and other essential requirements.
It is said. "Adversity reveals strength. I have witnessed from my past experiences that FACT always emerges stronger after each crisis. We have overcome herculean challenges several times in the past and we have the perseverance and steadfastness to stand up to any kind of challenge.
Even under all these adversities, it is heartening to note that our organization is scaling new heights with record production and sale of Factamfos and Ammonium Sulphate. Our company has recorded all-time high operational profit of Rs.352 Cr. and we have achieved a turnover of Rs3259 Cr. for the last financial year. We have also high showcased excellent performance in the first quarter of current financial year by posting an all-time high profit of Rs 40 Cr..
The Company has always kept in mind the welfare of its employees. I am delighted to inform you that Management has favourably considered the proposals to increase the retirement age from 58 to 60 and the implementation of 2017 wage revision. The proposals will be sent to the Government of India for approval.
As a result of our dedicated effort and hard work, the company is going to restart the operations of Caprolactam very soon. All preparatory works are complete and the plant is in start-up mode. The resumption of operations of the Caprolactam Plant will definitely help to increase the turnover of the Company in the coming years to a great extent.
I am happy to say that with our committed efforts, we have achieved a milestone in the history of FACT. The future is going to usher in a glittering era and may this ONAM be a harbinger of our true prosperity.
Once again I wish you all a very HAPPY ONAM.
Chairman & Managing Director