Though environmentalists continue to detest DDT, the fact remains that DDT is a very important and time tested tool in fight against Malaria. It is reported that Malaria has been with human even before we were human. Not only our hominin ancestors, but mice, birds, porcupine, monkeys, apes catch their own malaria. Rats and snakes and flying squirrels have malaria.
Malaria continues to be the single largest killer in Africa (more than HIV/AIDS). The economic cost of Malaria has been estimated to be more than 12 billion US Dollars. Through global funding and US President’s Malaria initiative which recently included DDT for funding, Africa is realizing that DDT is the most efficient tool in combating this disease. The ban on DDT is reported to have killed more than 20 million children in Africa.. WHO, in a position paper on DDT for disease Vector Control states that using DDT for disease Vector Control provide an appropriate balance between the need to preserve environmental health and the overriding concern to save human lives/health. It goes on to say that premature shift to less effective or more costly alternatives to DDT, will not only be unsustainable but also have a negative impact on disease burden on endemic countries.
The scientific community at large is slowly realizing that banning of DDT is more out of environmental politics and business interests than scientific truth. Number of countries who have registered DDT for public health with the Secretariat of Stockholm Convention have gone up from 6 in 2005 to 17 in 2009 which shows the gaining confidence in the molecule. This is expected to further go up.
Your company is committed to help the countries in its move against the dreaded disease by sharing the knowledge so as to tame the killer. Repeated visits are undertaken at senior levels to interact with Govt. officials in sub-Saharan Africa, educating them about safe and effective use of DDT. This has also helped in exporting DDT and more countries are coming forward seeing the success of the Vector Control Programmes using DDT. HIL is buoyant about the future of DDT and the role it can play in saving millions from the cold grip of this dreaded disease which has incidentally killed more than half of humans who have lived on planet earth.
Your company which diversified into agro chemicals in eightees to supply quality pesticides to farmers at reasonable prices is committed to achieve its mission and has earned not only respect but also confidence of the agricultural community.
The company believes that agricultural sector has to grow alongwith industry and service sectors to avoid a distorted growth which will cause societal imbalances. It also believes that quality pesticides are a key input to achieve the growth targets and bring prosperity to Indian villages. It is well known that when India shops for food, the prices shoots up in the global market. This not only makes food unaffordable to many but also drains the nation’s budget which could otherwise have been used for development, education,health, etc.
With arable land, second only to USA and with largest irrigated area, our agricultural productivity remains low. With increase in productivity which can be achieved through quality seeds, right usage of fertilizers and pesticides, India can at least catch up with the leaders if not better it. The growth India achieved in cotton can be repeated in other crops and there is no reason why we cannot become a major food producer.
The company has been adding more pesticides to its portfolio to meet the ever increasing market requirements without losing focus on the generic molecules which it considers as its forte. The company has a product profile of more than 27 products which is constantly being reviewed as per the market requirements.
It is well known that generic molecules are coming under greater attack. Products like Endosulfan, Glyphosate, Acephate and virtually the whole list of generic molecules are coming under increasing resistance from so called environmentalists. It is sad but true that today ‘environment’ is a big business and environmental activism is slowly turning out to be a killer as it deprives poor countries of cheaper alternatives in both public health insecticides and crop protection chemicals. It is surprising that nothing was wrong with these products till it remained under patent and it became a pariah once they became generic and manufacturing shifted to Asian countries. I believe that generic molecules which account for more than 70% of the market have a great role to play in making crop protection affordable to farmers across the globe.
Your company has initiated action to manufacture more technical grade generic molecules at Rasayani by optimum utilization of the resources available so that the company is able to expand the basket of products.
The company also is working closely with UNDP, Ministry of Environment in assessing the situation of POP pesticides in India.
The year 2008-09 was a volatile year for all economies which experienced a disequilibrium across the globe. The year saw a roller coaster ride in input and finished product prices, availability constraints due to closure of chemical industry in China, drop in demand due to global recession, etc.
Inspite of all the above problems, your Company improved its performance over the previous year and posted an operational profit of 7.63 Crores by achieving all time record gross turnover of Rs. 215.35 crores compared to Rs. 210.19 Crores of previous year. The net profit achieved has brought down the accumulated losses of the Company to Rs. 10.53 Crores. The net worth of the Company has increased to Rs. 80.02 Crores compared to Rs. 76.52 Crores in the previous year.
The performance of the company, as per self-evaluation, entitles for a MOU rating of “Very Good’.
The industrial relations in the company remained cordial during the year. The philosophy of your Company in relation to Corporate Governance is to conform fully with laws, regulations, guidelines and to promote ethical conduct throughout the organisation with the primary objective of enhancing shareholders value. The company is committed to conforming to the highest standards of Corporate Governance in the country. Report on Corporate Governance has been brought separately in the Directors Report. Code of Conduct affirmation has been duly received from Directors & Senior. Management employees.
I also take this opportunity to express my sincere thanks and gratitude to my colleagues on the Board of Directors for their valuable guidance and advice in the Management of the Company.
I am also thankful for the whole-hearted support received from Ministry of Chemicals & Fertilizers, Ministry of Health & Family Welfare, Cost Accounts Branch, Ministry of Finance, Company’s Bankers, Auditors and all the Shareholders and look forward for their continued support. My sincere thanks to the employees of HIL at all levels. I would like to place on record that but for their contribution and dedication, the results achieved would not have been possible. I expect the same determination and spirit to continue in future to further improve the performance of the Company. |
