Dear Fellow shareowners
I Kaushalkumar Gupta extend a warm welcome to all of you to the 9th AnnualGeneral Meeting of 'Bansal Roofing Products Ltd''. Incorporated in 2008 the Companyhas come a long way from the year of Incorporation to successful completion of SME Listingof three years.
Our new tagline is- Structuring dreams from steel
The Company and the industry faced many ups and downs in the market in the financialyear 2016-17 and indeed because of our strength we could face it and overcome all theodds.
Due to implementation of anti-dumping duty by Government the cheap imported rawmaterial was not available and Indian producers tightened the price in domestic market.Because of upward revision of price by mills we were not competitive in global marketresulting into low export. However domestic sale was satisfactory.
Last year in 15-16 we were at the infancy stage in the new segment Pre-engineeredbuilding and now we have started taking baby steps to boost and accelerate the growth ofthis segment. With our extra efforts we were able to bag handsome orders and we executed7 projects efficiently. We are now geared up to meet any requirements up to 2500 tonnesper annum. We are optimistic about this segment bearing good results in the coming yearsand ready to face challenges in an industry that is cyclical and tends to exhibitvolatility in demand and supply.
Pre-Engineered Buildings and Structural Steel Fabrication will witness exponentialgrowth in India for next 10 years. Government has launched a huge initiative "MAKE ININDIA". Owing to the government's initiation of the Smart City' Initiation'there is an up-surging demand of PEB even more. Additionally NAMO's focus oninfrastructure with the development of railways airports and roads will create hugebusiness opportunities.
Our production team is strengthened with the help of new installed machines like SAW(Submerged Arc welding) machine Auto welding machine Mobile crane etc.
As your Company is concerned about the environment and natural resources it hasinstalled 15 KW roof top Solar Plant and also 3 KLD bio filter waste water treatment plantat Factory. Both are operational.
The Company believes that employees are the assets of the Company and it has takenseveral measures to improve the working of the employees in efficient way by arrangingdifferent seminars in house and through external agencies.
Numbers for the year 16-17: Turnover of the Company increased by 21 % in thefinancial year 2016-17 as compared to the previous financial year 2015-16.There was alsorise in Profit after Tax by 22 % in the financial year 2016-17 as compared to the previousfinancial year 2015-16.
I thank my entire Board for their contribution towards Company's growth and success byproviding their intellectual skills.
Lastly I would like to express my gratitude to our shareholders for their immensefaith in the Company. I would like to share that your Company is moving ahead with intensefocus on targets and deliverables and I am confident that with your consistent supportyour Company will reach new horizons and strive to exceed your expectations.
With Best Wishes
Kaushalkumar S. Gupta