It feels immense pleasure in welcoming you on behalf of the Board of the Company on theoccasion of the 22nd Annual General Meeting of the Company. Despite 2015-16 a challengingyear for the Company; we continued to deliver the best target oriented performance.Government support for the sector has also seen a boost with substantial reforms andincreased financial outlays being announced and implemented. These reforms aim at not onlystrengthening the sector but facilitating planned expansion of the sector.
The interplay of all these factors has made Education an attractive sector withmultiple opportunities as can be seen by the high growth many players are witnessing andpursuing.
The Education sector in India is poised at a crucial stage in its growth. India'sdemographic advantage of having a large population of youth coupled with low grossenrolment ratios presents a huge opportunity to education sector players. At the sametime the growth of the Indian economy and upward movement of income levels is boostingspend on Education.
The Government proposed to set aside Rs. 69074.76 crores for the education sector outof which there was an increase in the Higher Education Budget from Rs. 23700 crores in2014-15 to Rs. 26855.26 crores in 2015-16 indicating a shift in focus from school tohigher education in the national budget presented in Parliament. The Government isstressing on Skill Development with an allocation of Rs. 1543.46 crores to the newlyformed Ministry of Skill Development and Entrepreneurship.
Your company is a professional company engaged in the study research training anddevelopment of integrated facilities in higher and vocational education. Your Company isefficiently trying to get projects in ITI and Skills Development Programs.
The Company is run by a solid team of professionals who aspire to achieve excellence.It is this drive that translates into achievement of Business Objectives.
I express my sincere appreciation for the invaluable contribution and co-operation ofall stakeholders involved with the growth of the Company. I would also like to thank allmy colleagues on the Board in charting the road-map of the Company for continuous growthand profitability thereby steering it to newer landmarks.
With best regards Director