India's economy is in the midst of recovery with lower fiscal and current accountdeficit lower inflation and weak commodity prices. Our country's growth seems poised toreturn to a high-growth path. The slowing growth in some of the leading global economiesimpacted currencies. But there was positive news in terms of faster-than- anticipatedeconomic growth recovery in the United States which provided momentum for the globaleconomic recovery.
In this context for 20 Microns the capacity utilization of newly expanded capacity wasvery low due to sluggish demand the expected cash generation was not taking place and itwas expected to have impact on the repayment schedule of various term loans availed by theCompany. The Company had approached its Bankers with a request to restructure repaymentschedule of various terms loans consortium bank approved the same in the Month of March2015.
We can assure you that we are extremely mindful of the aspirations and expectationsthat you have as members and as regional stakeholders. There is still much to do andthere are still many areas where we need to refine our focus and lift our performance.But we believe we are well placed to respond to these challenges in a very positive andstrategic fashion.
I would like to thank each and every one of our Bankers customers employeesshareholders partners and supporters for their continued faith in building 20 Microns forthis exciting future. As we enter in another Financial Year we look forward to receivingyour continued Trust and Support.