Brahmaputra Cracker and Polymer Limited holds 16th annual general meeting in Guwahati

DIBRUGARH: Brahmaputra Cracker and Polymer Limited (BCPL) holds its 16th annual general meeting in Guwahati on Friday. Sandeep Kumar Gupta, Chairman, presided over the meeting, which was attended by Pruthiviraj Dash, Director (Finance), Managing Director (Additional Charge), and other members of the Board and shareholders of the company. In his address, Chairman BCPL expressed gratitude to the valued stakeholders for their continued support and confidence. Financial Year 2022–23 had been a challenging year for the company, marked by spiralling feedstock prices and a relatively low polymer price. Following a maintenance shutdown during the first quarter of the financial year and despite odds, the company was able to demonstrate healthy financial management with the external rating maintained at AA+ by CRISIL and Acuity Ratings. An equity dividend of Rs 40.26 crore for FY 2022–23 was declared in the AGM. In his address, Gupta mentioned that the company produced 2.52 lakh MT of polymers and 53,170 MT of liquid hydrocarbons during the year. BCPL’s captive Butene-1 plant was geared for completion in November 2024, and with it, the concerns regarding the sourcing of the raw material would ease. He also stated that plans for debottlenecking and capacity expansion were afoot. BCPL earned revenue from operations amounting to Rs 3486.82 crore and EBITDA of Rs 347.12 crore. An amount of Rs 25.27 crore was earmarked for CSR activities during the fiscal year, with emphasis on projects in health and nutrition, promotion of education, skill enhancement, alternative livelihood promotion and entrepreneurship development, swachhata and sanitation, and rural development