It gives me great pleasure to share with you an update on the overall performance ofyour Company.
In a challenging external environment your Company performed well and deliveredanother year of consistent competitive growth. We achieved a sales turnover of Rs. 126crores comprising Rs. 41 crores in the domestic market and Rs. 85 crores in exports.Comparing to previous year the turnover had marginally increased but net profits are lowby 20%. The impact is due to violate market conditions in Europe and America rising costsand strict pollution norms. However in current year we had received permission from GPCBto discard the waste water through ETL and we are hopeful by doing so our cost willdecrease in the current year.
This year the Board of Directors had declared interim dividend in March 2016 of Rs.1.50 per share. The Board has recommended nil Final Dividend forthe year ended March312016.
As far as year 2016-17 is concerned your Management is hopeful for the market tochange looking to quarter 1 results wherein though the sale had decreased by 3% from Rs.32.05 crores to Rs. 30.94 crores the net profit had increased by 32% from Rs. 2.25 croresto Rs. 2.97 crores comparing quarter 1 results with preceding year same period.
Finally On behalf of Board and the Management team I thank all shareholderscustomers vendors bankers insurance companies consultants advisors and our employeesfor their continued support and assure them of our sustained best efforts to achieve thedesired results.
|BhagwandasK. Patel |
|Managing Director |