I am very pleased to present the 15th Annual Report of our company which contains acompilation o the financial erformance of our businesses and a brief desc iption ofthe values beliefs and practices that shape our company
The year 2015-16 continued to be a challenging year. Global economic growth was p ggedat 3.1% in 2015 marginally lower than in 2014. It is expected to grow to 3.8% in 2016.The slowdown in emerging economies has been attributed to freefalling commodity pricesrebalancing in China plummeting oil prices and challenging macroeconomic factors.
Oil prices saw a marked ecline in September 2015 reflecting expe tations of increasein produ tion by OPEC members amid a steadily widening skew between globaloi production and consumption. Future markets are currently suggesting only modest increasesin prices in 2016 and 2017. Prices of other commodities especially metals have fallen aswell. The United States remains resilient supported by improving fi ancial conditins and strengthening housing and labour markets but with dollar strength weighingall too heavily on manufacturing activity investment in mining tructure and e uipmentsegments has curtailed.
The key factors that affected the global economy included a steep decline in oil andcommodity prices and monetary easing by central banks in th US EU and Japan. Theglobal financial markets experienced heightened volatility largely due to expectations ofa tightening of monetary pol cy by the US ederal Reserve. The impasse on resolving t edebt crisis in Greece added to the uncertainty. Geopolitical risks compounded thesituati n.
Among all he developing economies India was a notable exception with growthincreasing to 7.6% in 2015- 2016. Agriculture recorded a rowth of only 1.1% given thesubnormal monsoon. This was compensated by a more vigorous manufacturing sectorwhich grew at 7.3% in FY 2015-16 compared to 5.9% in FY 2014-15..
This year's Directors' Report gives a very self-explanatory. The company has facedchallenges in this metal industry and due to this turnover decreased from 25853.86 Lakhsin F.Y 2014- 2015 to 17624.70 Lakhs F.Y 2015 2016..
Most valuable resource is human resource. We have ensured the stead 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 ancontinue to stay ahead of markets and peers.
My concern in the global market still remains as the fluctuations in US Dollar/Rupeepower shortage and weak growth in traditionally strong economies and its negativeeffect on global economy in general are causes for concern.
A lot of effort hard work nd research go into making this possible. Our constantendeavors to make Bothra Metals & Alloys Ltd an epitome of excellence inworking.
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 teamof employees and he board of Directors for their supports and guidance
We lookforward to your continued suppor in future journey.