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Chairman Speech 2014 Chairman's Speech at the 49th Annual General Meeting • The Profit Before Tax (PBT) and Profit After Tax (PAT) was OPERATIONAL HIGHLIGHTS • An absorbent composition, a process for the preparation SUSTAINABLE DEVELOPMENT `698 Crores and `480 Crores respectively. Your company worked on many projects of strategic importance in thereof and a process for removal of Hydrogen Sulphide Your company is committed to aligning its business model with the • For the year 2013-14, the Board of Directors have recommended FY 2013-14. Key among them are the 6 MMTPA Integrated Refinery impurities from gaseous feedstock and philosophy of sustainable development. Your company's a final dividend of ` 3/- per share (of face value of `5/- per share) Expansion Project (IREP) at Kochi of Bharat Petroleum Corporation • Fluid interface level measurement device. sustainability mandate is not just about giving money to a good A Navratna Company in addition to `3.50 per share interim dividend already paid Ltd (BPCL), the Refinery expansion & up-gradation project for Based on innovative work done, the R&D division has filed one cause or complying with environmental regulations but rather about during the year. With this, the total dividend for the financial year Mangalore Refinery and Petrochemicals Ltd (MRPL) and the 6 patent entitled “High level capacity enhancement of Sulphur operating its business in a manner that is responsible and 2013-14 works out to `6.50 per share. Payment of final dividend MMTPA capacity CDU-4 Project at Mumbai Refinery for BPCL. recovery plant.” With this your company's patent portfolio has grown transparent to all its stakeholders and to the society at large. is however subject to approval of the shareholders. In the midstream segment your company executed work on the to 16 'live' patents and 12 pending patent applications relating to Our project designs support sustainability right from the concept I am pleased to inform you that your company's transparent and Kochi-Coimbatore-Erode-Salem LPG Pipeline and Irugur- various process technologies. stage to plant commissioning and subsequently during the robust accounting and audit practices were acknowledged by the 'Nil Devangonthi Pipeline Project of BPCL, Mallavaram-Bhopal- HUMAN RESOURCE DEVELOPMENT commercial operation. Energy efficiency, resource optimization and Bhilwara-Vijaipur Pipeline Project (MBBVPL) for GSPL India safety of plant personnel and local community at large are the Comments' from the Comptroller and Auditor General of India for the Human resource is our most valuable asset and your company is Transco Ltd. (GITL) and Dabhol-Bangalore gas pipeline of total 1200 corner-stones of our business operations. Your company, as a financial year 2013-14. conscious of this fact. Your company is committed to continuously KMs project for GAIL (India) Ltd, among many other jobs. consultant plans to integrate sustainability and safety in our FPO providing an enabling environment that motivates, facilitates their In the upstream segment your company worked on the Offshore technology, design, engineering and construction practices. Some This year your company also successfully carried out a Follow-on growth and rewards them for their contributions. The Company has platform projects for Gujarat State Petroleum Corporation (GSPC), of the sustainable technologies developed by EIL R&D Centre Public Offer as part of Government of India's decision to divest 10% various welfare measures, employee-centric policies and include Tail Gas Treating Unit (TGTU) for sulfur removal, CO Refineries Western Onshore Redevelopment Project for Mehsana, Ankleshwar development initiatives in place to drive its human resource and 2 of its equity stakes in EIL. The FPO garnered very encouraging removal process (COR) from flue gas, SO removal process (SOR), and Ahmedabad assets of ONGC among other jobs. deliver their best thereby leading to enhanced productivity. As of 2 response from investors across categories and was subscribed 2.83 Ammonia Treating Processes (ATP) technology among many In fulfilling its mandate to upgrade the infrastructure for India's March 31 2014, your company employs 3357 employees, including times, with the retails portion getting over-subscribed by 2.48 times others. Shri A. K. Purwaha and the portion reserved for QIBs over-subscribing 3.93 times. Energy Security, EIL executed several jobs, a few I will mention here, 2968 technically and professionally qualified employees with around such as the Dahej LNG Expansion (Phase IIIA ) for Petronet LNG, 3.78 % located outside India. Your company has also been accredited by Quality Council of India Chairman & Managing Director Further, shares representing 1.03% of equity share capital of the (QCI) for carrying out EIA studies and preparation of Environmental Strategic Crude Oil Facilities in Rock Caverns for the Indian During the year, EIL formulated and released an HR Vision, Mission Company from GoI shareholding were transferred to CPSE ETF. I Management Plan (EMP) for new projects across the hydrocarbon take this opportunity to welcome the new shareholders of EIL and be Strategic Petroleum Reserves Limited at Mangalore, and Objectives document which has further aligned the HR Services Vishakhapatnam and Padur, development of port facilities for value chain and other sectors like Mining, Non-ferrous Metallurgy Dear Shareholders, co-owners in our progress. with the Organization's Vision, Mission and Core values. Ratnagiri Gas and Power Pvt Ltd. and Infrastructure. On behalf of the Board of Engineers India Limited, it is my pleasure Your company also maintained its strong focus on training and th BUSINESS HIGHLIGHTS AWARDS & RECOGNITIONS to extend a very warm welcome to all of you to this 49 Annual In the petrochemical and the metallurgy segment, EIL worked on development through training interventions focusing on Domain General Meeting of your company. With your kind permission, I take On the business front, your company secured new business of critical projects like the Dahej Petrochemical Complex for ONGC Expertise, Soft-skill competencies and Leadership development. Awards & recognition are moral boosters that spur the organization the Annual Report containing the Audited Accounts, the Directors' `1155 Crores in FY2013-14 which includes `1085 Crores from Petro-additions Ltd (OPaL), Assam Gas Cracker Complex at Apart from conducting need based technical and functional and its employees to rise beyond their limitations, and do that extra bit Petrochemicals Report and the Auditors' Report which has already been circulated domestic consultancy and turnkey business and `70 Crores from Lepetkata for BCPL, Second phase expansion of Bauxite Mines, interventions, Training and Development division increased its focus for the organization. The year saw the Company being bestowed with to you, as read. overseas business. Major contribution in our order inflows continues Alumina Refinery for NALCO, Bhubaneswar and the Mahan on planned interventions for FY 2013-14. a number of prestigious awards, prominent being Golden Peacock to remain from Hydrocarbon and Petrochemical businesses. Aluminium Smelter project, Madhya Pradesh for HINDALCO. Award for Sustainability for the year 2013 instituted by Institute of We are currently in the midst of Engineers India Limited's Golden STRENGTHENING COMPETITIVENESS In the upstream segment of hydrocarbon value chain, your company In the infrastructure business we have worked on the Canal, Pipeline Directors (IOD), Golden Peacock Award for Corporate Social Jubilee year and this is truly a momentous occasion for all of us. A Strengthening an organization's competitiveness for a sustainable th during the financial year secured a major job for consultancy Responsibility for the year 2013, 12 ICSI National Award-2012 for significant milestone that your company achieved recently and and Pumping station works of Sardar Sarovar Narmada Nigam leadership is imperative in today's dynamic market place. EIL has th services for Revamping of Unmanned Platform Phase-II of ONGC. Excellence in Corporate Governance, ICC PSE Excellence Award- which adds luster to its 50 year celebrations, is the conferment of Limited (SSNNL), Data Centres at Delhi and Bengaluru for Unique always focused on this aspect and worked towards achieving In downstream segment, orders were secured for Coker Block of 2013 for R&D, Technology Development & Innovation, Petrofed the prestigious 'Navratna' Status by the Government of India. It is a Identification Authority of India (UIDAI), Interceptor Sewer Project for continuous improvements in systems, procedures and systematic Resid Upgradation Project of CPCL, Licensor selection & initial Award-2012 for Innovator of the Year Team among many others. reflection of the trust and faith reposed by the Government of India in the abatement of pollution in River Yamuna for Delhi Jal Board (DJB) automation of business process with skilful application of project activities for Rajasthan Refinery; Detailed Feasibility Report CORPORATE GOVERNANCE your company's abilities and will give us enhanced operational and preparation of DPR for Tertiary Treatment Reverse Osmosis Information Technology. Your company has leveraged its and financial autonomy to work and expand in domestic and for expansion of Numaligarh Refinery and Gujarat refinery of IOCL. Plant at Chennai for Chennai Metropolitan Water Supply & Information Technology expertise for enhancing the efficiency & Good governance is a key to a lasting reputation
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