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Damodar Industries Ltd.

BSE: 521220 Sector: Industrials
NSE: DAMODARIND ISIN Code: INE497D01014
BSE LIVE 10:53 | 22 Feb 77.95 0.60
(0.78%)
OPEN

76.00

HIGH

77.95

LOW

76.00

NSE LIVE 11:03 | 22 Feb 75.05 -2.15
(-2.78%)
OPEN

76.00

HIGH

78.65

LOW

75.05

OPEN 76.00
PREVIOUS CLOSE 77.35
VOLUME 7000
52-Week high 93.95
52-Week low 55.15
P/E 10.06
Mkt Cap.(Rs cr) 86.76
Buy Price 75.10
Buy Qty 50.00
Sell Price 77.95
Sell Qty 100.00
OPEN 76.00
CLOSE 77.35
VOLUME 7000
52-Week high 93.95
52-Week low 55.15
P/E 10.06
Mkt Cap.(Rs cr) 86.76
Buy Price 75.10
Buy Qty 50.00
Sell Price 77.95
Sell Qty 100.00

Damodar Industries Ltd. (DAMODARIND) - Chairman Speech

Company chairman speech

DAMODAR THREADS LIMITED ANNUAL REPORT 2007-2008 CHAIRMAN'S REPORT Dear Shareholders, I am extremely proud to present you the performance of your Company for the financial year 2007-08. Let me begin by giving you an overview of the financial performance of the company and then share some thoughts from a strategic perspective. During 2007-08 Damodar Threads has grown by 176.67% in revenues from Rs.63.92 crore to Rs. 176.85 crore. Every company to achieve growth has to become global. It has to tap and service international markets. This is portrayed in your company's result; exports have contributed to the major part of the growth. The net profit has increased by 14.04% from Rs. 2.35 crore to Rs.2.68 crore and cash profit by 126.33% from 3.95 crore to 8.94 crore during the year. This has also translated to a rise in Earnings per Share from Rs.7.57 to Rs.8.64. The Board has decided on a dividend of 15% (Rs. 1.50/- per equity share). Damodar Threads continues to be the market leader and pioneer in fancy yarn segment. We have already achieved a lot success on our aim to become the largest exporter of fancy yarns from India. We hope to receive the same support from our shareholders to help us reach our aim. Unity in Diversity is the motto of our nation and is the same motto for our products. Apart from manufacturing Synthetics Blended Yarn and Cotton Yarn, We have created a new set of yarns which India has never seen before. Our new plant in Dadra, has been fully commissioned with 32,908 spindles, having capacity to produce daily about 15 tonnes of yarn. The Company has also installed 58 TFO's for doubled/twisted yarns. The Plant is fully operative since September 2007. The results of this plant will be fully reflected in the current financial year 2008-09. Export Division, specializing in export of Cotton Yarn has done exceedingly well having achieved turnover of over Rs. 90 crores within 1 year of operation. Export Division has very successfully developed markets for our fancy yarns. We expect fancy yarns contribution to increase in this years export sales. Importance of use of natural fibres for clothing across the globe is fast increasing, keeping up with this change in the market scenario; the company is spinning specialty yarn by blending various natural fibres. After achieving success in spinning Excel Fiber, This year your company aims at spinning and developing a market in Organic Cotton Fibre. We at Damodar Threads are continuously striving to improve efficiency in operations, by increasing the strength and quality of Human Resources. The company is continuously improving its IT Infrastructure, which is the need of the day to reduce operating costs of the company. The company at the same time is also opening offices in various textile centers across the country to offer better service to our clients and to improve operations. I am proud and thankful to each and every one associated with Damodar Threads Limited, who has strived hard to achieve this performance. I am optimistic about the long-term growth prospects of your company. I am confident that our current approach and aggressive marketing strategies will enable us to keep going forward and generate value for all our stakeholders, employees, customers and investors. I am grateful to each and every one of you for your continuous support and confidence in the management team of the company and am looking forward to continually receive the same support for better performance of the company. Thank You, Arun kumar Biyani Chairman