I am very pleased to present the 14th Annual Report of our company which contains acompilation of the financial performance of our businesses and a brief description of thevalues beliefs and practices that shape our company
The year 2014-15 continued to be a challenging year. The global economy growth was3.4% unchanged over the previous year. The worlds largest economy the US sawbetter growth while the countries in the Euro zone registered marginal growth. There wasa marked slowdown in China and Japan witnessed near stagnation.
The key factors that affected the global economy included a steep decline in oil andcommodity prices and monetary easing by central banks in the US EU and Japan. The globalfinancial markets experienced heightened volatility largely due to expectations ofatightening of monetary policy by the US Federal Reserve. The impasse on resolving the debtcrisis in Greece added to the uncertainty. Geopolitical risks compounded the situation.
Among all the developing economies India was a notable exception with growthincreasing to 7.3% in 2014. Agriculture recorded a growth of only 0.2% given thesubnormal monsoon. This was compensated by a more vigorous manufacturing sector whichgrew at 7.1% in FY 2014-15 compared to 5.3% in FY 2013-14. Headline inflation fellsharply to 5%.
This years Directors' Report gives a very self-explanatory and strong analysis ofyour Company's working aims objectives and opportunities. we have crossed anothermilestone that our topline has marked jump to the extent of 15.28% from Rs.224.28 Cr.during FY 13-14 to Rs.258.54 Cr. during FY 14-15. We are proud to share that in this kindof economic conditions where domestic units are not at all in comfort zone our companythrough perseverant efforts of our young and dynamic work force has been able to touchthis mark.
We at Bothra Metals & Alloys Ltd believe in innovating ourselves inspired toreturn the due in whatever way we can to all our stakeholders. Just as last year thecompany marked one feats in its history this year was no exception. Our DirectorNarendra Bothra was presented with the very prestigious Rashtriya Vikas RatanAward at Goa Seminar conferred by the President and Member of Economic GrowthSociety of India
Now moving on to operational efficiency products of increased production company willstart some of Non ferrous alloys other than Aluminium also it will create a anothermilestone for the company
Most valuable resource is human resource. We have ensured the steady growth of yourorganization by admitting well qualified and dedicated work force and are on a constantevaluation spree thus enforcing confidence in the prospects of your organization. Westrongly believe that this is the only way forward to cope with the future challenges andcontinue to stay ahead of markets and peers.
My concern in the global market still remains as the fluctuations in US Dollar/Rupeepower shortages and weak growth in traditionally strong economies and its negative effecton global economy in general are causes for concern.
A lot of effort hard work and research go into making this possible. Our constantendeavors to make Bothra Metals & Alloys Ltd an epitome of excellence in working.
Before I conclude. I would like to express my gratitude towards all stakeholders whohave reposed trust in us and extended their constant supports and dedicated team ofemployees and the board of Directors for their supports and guidance
We lookforward to your continued support in future journey.