Dear Members Directors colleagues and friends;
I am glad to welcome you to the 9th Annual General Meeting. Your continuedtrust support encouragement and fair criticism based on data and facts are what give usenergy enthusiasm confidence and motivation to strive for betterment. I will make adeparture from my usual practice and skip talking about most of what is already availablein the Annual Report 2015.
On behalf of the board of directors C. Mahendra Group and every one of you I placeon record our deep appreciation of the clients vendors partners investors and bankersfor their continued support.
The report also identifies key trends along the value chain for rough and polisheddiamonds as well as diamond jewellery. We compare 2015s results with those ofprevious years highlighting the impact of continuing economic uncertainty on the diamondmarket.
We need to support our growth by ensuring suitable sustainable supply of roughdiamonds. Given that diamond miners have been cutting back production supply to themarket will be limited making this an even more important strategic focus. As manybusinesses have been limiting or ceasing their purchasing over the past few monthssuppliers are tending towards companies that have shown consistency and continued demandover this difficult period.
Recognizing and building on our strengths will drive our growth and defend us againstcompetitors. The superior quality of our products creates customer loyalty. And ourpassion for innovation allows us to offer our customers more exciting desirable productswith higher value propositions.
We want to make our shareholders employees customers and suppliers prouder than everto be associated with C. Mahendra Exports Limited. I assure you of our best efforts andthank you for your continued commitment and belief in our Company. I look to forward tothe success with you in the coming year.
Thank you for your attention.
With best Wishes
Mahendra C. Shah