Amal Ltd has adopted a new logo with the sole objective of working with a renewed mindset
The logo portrays a diya whose constituents are an earthen pot, ghee, a wick and a flame. Our actions (symbolized by the ghee) will remain within the boundary of ethics (symbolized by the earthen pot) and we will through hard work (symbolized by the wick) achieve our purpose (symbolized by the flame).
PURPOSE & VALUES
As Amal Ltd is being promoted by Atul Ltd, the Company has adopted and is pursuing common Purpose and Values which are as follows:
Energised by Purpose:
We are a company committed to significantly enhancing value for all
Our stakeholders by:
- fostering a spirit of continuous learning and innovation,
- using science and technology in a responsible way,
- providing high quality products and services, and becoming the most preferred partner,
- having people who practice values and high standards of behaviour,
- seeking sustained, dynamic growth and securing long term success,
- taking responsible care of the surrounding environment, and
- Improving the quality of life of the communities we operate in.
Driven by Values:
In an environment where change is a way of life, continuity of Values is fundamental to us. We have therefore formalised key Values and are committed to institutionalise them:
The foundation of every relationship is trust, and trust is based on Integrity. Integrity means working with honesty, following the highest standards of professionalism. Integrity is when our decisions and actions remain consistent with our thoughts and words, written or spoken.
How well one works with others depends on his (her) ways to connect, and this in turn is based on his (her) level of Understanding of human relationships. Understanding does not mean accepting poor performance, but it means doing it the right way. Understanding is not only an external manifestation, but also an internal realisation.
Living in a state of oneness brings Unity. Unity means working together and taking advantage of synergy while harnessing unique abilities of each individual to achieve a larger goal. Unity is the realisation that though we may work in different areas, we are finally interconnected and that interdependence is a higher order of living than independence; though we may be many, we share a common destiny.
Responsibility implies doing whatever it takes to deliver value and taking ownership of our actions. Responsibility must also give rise to the realisation that what is good for the business must be in the overall good; in other words, working in the spirit of
trusteeship not only for the shareholders, but also for other stakeholders such that ultimately what comes from the society goes back to it many times over.
Excellence is a drive that is more from inside than outside; it is about one seeking to continuously improve and better performance. Excellence means endeavouring to achieve the highest possible standards in our day to day work; it means to develop an inspiring and substantial vision and realise it. In many ways, Excellence is also a journey, not simply a destination in itself.
We will seek to create an environment wherein the aforementioned Values are consistently practised and nurtured and ensure that they are not compromised to realise short term gains.
Amal Ltd, a company promoted by Atul Ltd, is in the process of rebuilding itself. The Board of Industrial Finance and Reconstruction (BIFR) approved the revival scheme of the Company on July 17, 2009. Since then, the Management of Amal has taken some concrete steps for reviving the company.
A new beginning…
The Company has restarted its manufacturing operations on its Ankleshwar site. It has initiated the process of debottlenecking its Sulfuric Acid plant to 140 tonnes per day (tpd) which it expects to complete this year. Further, it will be supplying excess steam, a bye-product, from its Sulfuric Acid plant to a neighbouring company. An agreement has already been signed to that effect on June 01, 2010. The Company is also actively pursuing a project to manufacture a chemical intermediate that is used in the pharmaceutical industry. Both these projects have the sanction of the BIFR.
Along with its manufacturing operations, Amal has simultaneously accorded high priority to safety, health and environment protection. The Company has its own effluent treatment plant at Ankleshwar which fully complies with the norms stipulated by the Gujarat Pollution Control Board.
Strategizing to make a turnaround…
In the year 2009-10, sales remained low at Rs 525 lacs and loss from operations was Rs 93 lacs. However, due to the BIFR approval, waivers from creditors were credited to the Profit and Loss Account which has resulted in a net profit of Rs 378 lacs.
During the first quarter of the current fiscal, sales have reached Rs 449 lacs from Rs 1.84 lacs and profit from operations was Rs 60.39 lacs as against a loss of Rs 37.98 lacs. The Company expects to improve its performance during the current fiscal.
The Company has an accumulated loss of Rs 3884 lacs. However, the Management is keen to wipe out the losses as well as the consequent negative net worth as soon as possible. In addition, the Management is exploring other projects which can be synchronised along with the existing operations and beyond. The Company is also in the process of revaluing its assets so as to correctly reflect its market value and on that basis the net worth of Amal. This exercise will be completed during 2010-11.
The Company is in the process of approaching the banks for providing working capital facilities as well as long term loans necessary for the execution of the projects planned.
The Company manufactures Sulfuric Acid, Oleum 65%, Oleum 25%, Sulfur Trioxide and Sulfur Dioxide at its manufacturing site at Ankleshwar; these are bulk chemicals manufactured from Sulfur.
Bulk chemicals are cyclical in nature, and the business of the Company still revolves mainly around bulk chemicals. These chemicals are used in several industries: Construction, Paint & Coatings, Crop Protection, Dyestuff, Flavour & Fragrance, Pharmaceutical, Polymer, and other industries.
Our human capital…
The day-to-day management affairs of the Company are vested with the Management Committee which is headed by Mr Vasudev Koppaka as the Managing Director and has functional heads as its members.
The production and sales activities of the Company have started at Ankleshwar and recruitment of manpower has been done to support the activities. However, all the workmen and management staff at Valsad plant were relieved. The Company is having a small team of employees at its Head Office for attending to day-to-day work.
Mr Sunil Lalbhai - Chairman
Mr Naresh Singhal – Chairman Audit Committee
Mr Vasudev Koppaka – Managing Director
Mr T R Gopi Kannan
Mr Sujal Shah
Mr Abhay Jadeja
Mr. Arvind Chhajer
Haribhakti & Co. Chartered Accountants
R Nanabhoy & Co.
310B, Veer Savarkar Marg
State Bank of India
Locations of plants:
Atul 396020, District Valsad, Gujarat, India
GIDC, Ankleshwar 393002, District Bharuch, Gujarat, India
Address for correspondence:
Amal Ltd, Atul 396020, District Valsad, Gujarat, India
E-mail ID of Grievance Redressal office: