It gives me great pleasure to share with you an update on the overall performance ofyour Company. We are emerging as one of the best performing economies across the globewith the GDP estimated to increase to 7.6% this year.
The Indian tourism and hospitality industry has materialized as one of the key driversof growth among the services sectors in India. It contributes to 6.23 percent to theNational GDP and 8.78 percent of the total employment in the country. Constanttransformation functional growth and improving standards have gained the hospitalityindustry of India approval all over the world.
In the year under review we saw considerable changes in the external businessenvironment. While commodity costs the second consecutive monsoon failure and resultingdrought meant a distressed rural demand scenario in several parts of the country.Competition continued to be aggressive. In this scenario your Company remained focused ondelivering volume-led profitable growth. Our Foods and Beverages business deliveredanother year of strong volume led growth.
In a challenging external environment your Company performed well and deliveredanother year of consistent competitive and responsible growth. Despite the challengingbusiness environment as afore stated Gross Revenue for the year grew by 36% to Rs. 132Crores. Your Company's Profit Before Tax and Extraordinary item for 2015-16 is Rs. 144.16Lacs as compared to Rs. 343.34 Lacs for the financial year 2014-15. Due to increase inemployees cost and other overhead expenditure the same has came down.
One of the major strengths of your Company is the relentless focus on execution andcost efficiencies.Sustainable profitable growth can only be achieved in an organizationthat focuses on performance culture and where employees are engaged and empowered to bethe best they can be.
The major milestones achieved during the year are as under:-
The innovation in execution was the key driver of the business.
The revenues from operation were consolidated in all the Units.
The restructuring process were implemented in all the Units and Corporate office
The process improvement initiative with respect to IT has happened.
All the process has been centralized and controlled from corporate office.
We are in the process of exploring new opportunity in Sterlite Jharsuguda TCS(3000Employees) and Kokilaben Hospitals(Reliance).
However the actual outcome will depend on many factors such as overall economicgrowth the impact of the marketing efforts cost of raw materials and the competitivelandscape in the marketplace. I am hopeful that our continued efforts will help realizethe growth of our business in line with our vision of being a national player.
I would also like to thank and congratulate the entire-management team for theiruntiring efforts which has made this excellent performance possible.
I am also grateful to the Board of Directors for their unstinted support and guidance.I also thank all the Stakeholders for their association with and trust in theorganization.
With best wishes