Dear shareholders the passage of constitutional amendment paved the way forintroduction of gst and is expected to have positive impact on organized sector and theindian economy as a whole. With gDp growth projection of 7.4% for the year 2017-18 thereis good prospects for economic growth. your Company witnessed optimum utilization ofexisting capacities in the year 2016-17. profit has been good despite pressure onmargins on the back of inventory gains due to steep rise in Caprolactam prices. theprices are now on declining trend and thus the year 2017-18 could witness reversal ofinventory gains. in the long run stable Caprolactam prices would auger well for thebusiness. nylon tyre cord demand is expected to remain stagnant or witness marginaldecline. your company is therefore evaluating diversification into polyester tyre cord andother reinforcement materials for tyre as a future growth plan. it is a matter ofsatisfaction that your company has been able to maintain its leadership in nylon yarn fortextiles and will further consolidate its position. Last year the Company had declared adividend at the rate of 75% (which included a special dividend at the rate of 15% tocommemorate our golden jubilee). for this ye.ar we have proposed a dividend at the rateof 70%. i would like to add that since the Company is in a commodity business it is ofutmost importance to have a strong balance sheet to withstand price volatility andminimising dependence on borrowings. i should assure the shareholders that a stabledividend policy is our goal and commitment.iwouldliketoextendmygratitudetoallourstakeholders including shareholders customerslenders and our loyal hard working and committed employees for their continued supportand faith in the Company.