ONAM MESSAGE
My Dear Colleagues,
Yet another ONAM beckons us with all its happiness and affluence. May the sweet scent of the Pookolam flowers fill and the twinkling lights of the Vilakku bring eternal happiness and joy to your life. On this auspicious occasion, I wish all my colleagues in FACT a prosperous, colourful, healthy and wealthy ONAM!
India has never ever been short of festivals. We are a race longing for festivities. This year, the celebration will be even bigger and brighter after successive years of flood and the pandemic dampening the spirit of ONAM. We are going to celebrate ONAM with much spirit of harmony and brotherhood. I am really happy to notice that people of all castes, communities and religions actively participate in the celebrations with the same enthusiasm and excitement. The secularism character, the remarkable feature of the harvest festival, has attracted me the most. This unity among the people is really amazing, which is the need of the hour, I strongly believe.
This year ONAM is even more special for all of us as we could achieve all time high turnover of 1292 Cr. in the first quarter which is 74% higher than the first quarter of the previous year and we have achieved a profit of Rs 137 Cr. against Rs 40 Cr. of profit during the first quarter of previous year. I am also happy to tell you that we are maintaining very good performance during the second quarter also. Company achieved new production records for Caprolactam& Ammonium Sulphate during August ’22. Sales performance also were very good during the period. My hearty congratulations to each and every one of you for your dedicated efforts and hard work.
As part of our corporate strategy, we are expanding our fertilizer production capacity by setting up a 1650 TPD NP Plant at Cochin Division and 10000 MT Ammonia Storage Tank, along with other raw materials handling and storage facilities. Bhoomi Pooja was performed and construction activities have commenced for these projects. Our company is taking all measures for the sustainable operation of the plants and standing with the nation in meeting the needs of our farmers.
I am delighted to inform you that, in view of your committed efforts, as per the guidelines issued by the Government of India, the proposal for wage revision has been cleared by the Board and put up for the approval of the GoI. Final approval for the same is awaited from the Government, and we are positive that we will get necessary approval and will be able to implement the same at the earliest.
Dear friends, I am confident that by keeping this teamwork and tempo, we can maximize our performance and move steps forward for the betterment of the company.
ONAM brings to us the sweet memories of an egalitarian society ruled by the benevolent King, Mahabali, which was characterized by a contented group of people for whom falsehood, corruption and crimes were unknown. On this auspicious occasion of ONAM, let us once again welcome King Mahabali to take all of us to new heights of unity and enthusiasm.
My Hearty ONAM Greetings to all.
Udyogamandal,
September 6, 2022 Kishor Rungta
Chingam 21, 1198 Chairman & Managing Director
Chingam 21, 1198 Chairman & Managing Director
