It gives me immense pleasure in welcoming you all at this annual gathering to review2015-16 passed by.
India has always been a self sufficient nation with well endowed natural mineralresources in the league of larger nations of USA Europe and China. This industry fallingunder the larger Minerals & Mining sector is a significant contributor to India's GDPgrowth which is currently on the decline.
The Industrial Minerals sector has always been considered as an important segment forthe Indian economy. The mining sector has been reeling for few years now under a lethalmix of high borrowing costs on one hand and environmental and regulatory policy paralysison the part of the government on the other hand. But with the government in place bybringing reforms in the mining industry the hope has revived in the industry to bring insome major growth oriented mining and mineral development policy reforms in the next fewyears which should boost this industry to the next level.
In the midst of the full of challenges although there was a overall slowdown andsluggish market scenario the encouraging part of the story of the year was that undersuch an adverse situation too we did well and maintained a strong EBIDTA besidessuccessfully achieved the targets which itself is a commendable mark-up of our CnC and VADDivisions and whereby earned net profit during the financial year.
The very segment expects an outperforming in 2016-17 and hence we anticipate ourcustomers' demand grow with the best possibilities of a great mix of commodity andspecialty Products.
I have a pleasure informing you that the Company has launched on 1stOctober 2015 two unique products through its Construction Chemicals Division namely"Micronsil 30C" and "Nanosil" the multitasking additive andperformance enhancer of all cement applications.
Besides the Pharma Division launched its Herbal-Ayurvedic Tablets viz."Dia-B-Microns FORTE" during thisyear which has no side effects and is safe andreliable & helpful in sugar control.
Another new Herbal-Ayurvedic Tablets has also been launched viz. "Arthritol"which is effective for Arthritis.
As you all would have perused the annual accounts I am glad to inform you all that theyear 2015-16 results of the Company has recovered the loss of Rs. 407.41 lakh of previousfiscal to the Profit of Rs. 934.31 Lakh for the year 2015-16. Our team always keeps movingto reach new highs even under the overall difficult scenario.
I would like to THANK you all for having reposed confidence and extended continuedsupport to us besides other Stakeholders Bankers Financial Institutions and last but notthe least our TEAM 20 having visionary Leaders & Implementers with disciplined downthe line force.
|THANKYOUALL || |
| ||Chandresh S. Parikh |
| ||Executive Chairman |