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ABC India Ltd.

BSE: 520123 Sector: Others
NSE: N.A. ISIN Code: INE125D01011
BSE LIVE 14:58 | 02 Dec 88.75 -1.25
(-1.39%)
OPEN

94.80

HIGH

94.80

LOW

86.10

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 94.80
PREVIOUS CLOSE 90.00
VOLUME 250
52-Week high 114.80
52-Week low 70.00
P/E
Mkt Cap.(Rs cr) 48.10
Buy Price 86.20
Buy Qty 102.00
Sell Price 88.75
Sell Qty 6.00
OPEN 94.80
CLOSE 90.00
VOLUME 250
52-Week high 114.80
52-Week low 70.00
P/E
Mkt Cap.(Rs cr) 48.10
Buy Price 86.20
Buy Qty 102.00
Sell Price 88.75
Sell Qty 6.00

ABC India Ltd. (ABCINDIA) - Chairman Speech

Company chairman speech

ABC INDIA LIMITED ANNUAL REPORT 2002-2003 CHAIRMAN'S REPORT Chairman's Communication: 1. We are working together for the past 40 years. Presently we see that the road transport industry is passing through continued phase of recession. In spite of which, eve continue to serve the industries, a difficult job made possible by the continuous and untiring-efforts of our staff members and the invaluable support and trust of our shareholders and our dear customers. 2. The reasons for this state of recession are not far to seek, the industrial growth is stagnant, share of industrial sector in GDP is still not encouraging if compared with China having 49% and Thailand having 40% of their respective GDP, by industrial sector. 3. It would be difficult for India to achieve even 7% growth only on the uneven growth of services sector. If we have to attain 7% GDP growth over a decade, manufacturing has to grow by at least 10-12% per year which is high target. All these targets can be achieved only by availability and quality of economic infrastructure of which transport infrastructure influences economic productivity and social welfare by directly contributing to and by enhancing amenities and influencing location decisions of private industry. 4. Increasing the emphasis on the transportation sector, particularly on road transport, can provide a developing economy like India the necessary infrastructure backbone for accelerated economic growth. A historical overview of road development provides the right perspective for further policy prescriptions and initiatives. With this in mind, a closer look at the national highway system of India becomes significant due to the fact that it carries 45 per cent of the traffic on just 1.4 per cent of the total road surface. Road transport now forms the backbone of the economy as it carries 87 per cent of the total passenger traffic and 65 per cent of the freight traffic. 5. In the last 3-4 years the small transporters have found it very difficult to remain in business and hence have begun to drop out of this business. The economic slowdown has made it impossible for them to earn economic returns from business. To remain in business, the large: transport companies have been employing different strategies like outsourcing their truck requirements rather than buying their own trucks. Through this they can concentrate on increasing their market network, warehousing facilities etc., and promote a decrease in average costs. The road transport business is under constant scrutiny in order to control costs. 6. The Road Transportation has also come to occupy a major role in logistics. The main reason behind this being that the road network is more far reaching than the railway network. Moreover, improvement inroad transport technologies has also resulted in reduction in costs per kilometer, which, though, has been offset by the hike in diesel fuel prices. 7. We hope that the road transport sector, which has an approximate growth rate of 5-6 percent per year, will grow at a greater pace. This can be effected by providing more and more value added services like backhaul services, tracking, single point accountability, alternative standby arrangements etc. for which we wilt have to work harder with a greater degree of commitment and a sense of fair competition. We are sure that all the members of the road transport sector, across the country, will endeavor to make our business a success. 8. Performance: Several external constraints and impediments continued to adversely affect the performance of your Company during the year under review. The unprecedented recession has not spared any segment of transport sector. In addition, problems of unremunerative rates, cash crunch and unethical competition coupled with high interest rates continued to depress our margins and consequently the profitability. We hope, we will come out of this recession also successfully. 9. Project Division: The Project Division has been functioning smoothly though the growth figures are not very satisfactory. Performance of Nissin ABC Logistics Private Limited, the joint venture Company floated by our Company in collaboration with Nissin Corporation of Japan has been encouraging. However, the 2003-2004 started with prospect of increased volume of project business for implementing project's in certain Oil sector PSU. 10. Organizational transformation: Your Company is aware of the fact that its employees are its key resources and to keep the work force highly motivated, we continued to emphasise on building up strategic strength by practicing organizational transformation and restructuring. Initiatives were taken for increased profitability and savings in overhead costs. To keep our dedicated workforce more objective oriented, we have placed core emphasis on teamwork and development of human resources. For the purpose of growth and orientation towards more market demand and customer satisfaction, we have divided our entire team to work dedicatedly for bulk and small segments. 11. Total quality management, kaizen and staff education - Our efforts to create human assets: We wish to reiterate that Customer focus oriented with total quality management is the key factors that integrate the human resources practices of your Company. Participative planning and strategy formulation process has helped us to improve involvement and alignments amongst the employees. Continuous in house training and development programmes and continuous learning process is absolutely necessary for ensuring retention of the best talent besides providing us with a sustainable platform for overall growth in the business environment. Our training programs have been formulated to develop cross-functional skills amongst the workforce. The objective to provide our workforce with an opportunity to accuaint with the areas, not immediately relevant to their job profile which is important from the perspective of all round development. Such training program were held at cyber cafes to make our employees familier with the operation and functioning of the world of internet. The Company continued to organize in-house training programs regularity for motivation, team building, quality consciousness and overall personality development. Through these training programs, specific case studies are made relating to our Company and its various projects. In order to develop our Company into a learning organization side our business activities, our entire team with internal initiative, determination and oneness of purpose continues to redefine the manner in which our Company conducts its business albeit maintaining its values and traditions. We have immensely. benefited by the expert guidance of external faculty invited to our training programs and meetings from time to time and our efforts in this direction shall continue. 12. I appreciate the services of all our staff members, at all levels, under stress and strain. I extend my thanks to all our customers, who reposed high confidence in us. I deeply thank our Shareholders, who will be our inspiring spirit in the future to come. I also thank the members of the Board, who have guided me at all times. With my best and warmest wishes to each to you. Kolkata, A.K. Agarwal The 29th July, 2003 Chairman

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