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Gillanders Arbuthnot & Company Ltd.

BSE: 532716 Sector: Others
NSE: GILLANDERS ISIN Code: INE047B01011
BSE LIVE 15:40 | 22 Nov 82.65 13.75
(19.96%)
OPEN

70.00

HIGH

82.65

LOW

70.00

NSE 15:41 | 22 Nov 81.65 13.60
(19.99%)
OPEN

69.00

HIGH

81.65

LOW

68.00

OPEN 70.00
PREVIOUS CLOSE 68.90
VOLUME 157261
52-Week high 85.30
52-Week low 55.20
P/E
Mkt Cap.(Rs cr) 176
Buy Price 82.65
Buy Qty 22340.00
Sell Price 0.00
Sell Qty 0.00
OPEN 70.00
CLOSE 68.90
VOLUME 157261
52-Week high 85.30
52-Week low 55.20
P/E
Mkt Cap.(Rs cr) 176
Buy Price 82.65
Buy Qty 22340.00
Sell Price 0.00
Sell Qty 0.00

Gillanders Arbuthnot & Company Ltd. (GILLANDERS) - Chairman Speech

Company chairman speech

GILLANDERS ARBUTHNOT AND COMPANY LIMITED ANNUAL REPORT 2008-2009 CHAIRMAN'S REPORT FROM THE DESK OF THE CHAIRMAN Dear Sharehobers It gives me immense pleasure to converse with you on this august occasion of the 'Platinum Jubilee Year' of the Company. You are aware that the fiscal year 2008-09 was challenging in more than one ways. Global meltdown affected the Indian economy too, which is expected to recover by the end of March 2010. In spite of the slowdown and other negatives, 2008-09 saw your Company move ahead on the growth track. However, it has not been a pushover for your Company. It has been made possible because we are a generalist-specialist with a wide range of deep competencies, knowledge driven and a quality information system. Your Company makes continuous efforts to improve, adapt and implement new technologies, equipments and innovation. In line with the above, 26,208 Spindles with the latest modern machines has been installed at Akbarpur, Punjab. It plans to continue this upgradation process by replacing old machineries and equipments in the future. In the last few years, several Companies have amalgamated with your Company which has resulted in efficient utilisation of resources, reduction in overheads and other expenses and improvement in various other operating parameters. The importance of these amalgamations is that it has resulted in the formation of a larger and stronger entity having greater capacity for carrying on its business and conducting its operations on more favorable terms and thus maximising shareholders' value. Figures released by the Indian Tea Association (ITA) suggest that global tea production is estimated to have fallen to 44.5 million kg until March. Tea exports during the January-March period fell by 24% to 38.89 million kg from 50.94 million kg in the corresponding period of the last year. Traders are optimistic that the global shortage will create opportunities for India as the carryover stocks have come down globally, while prices have maintained their upward spiral. Studies suggest that demand is seen growing at 3-4% per annum. Shortfall in Kenya works to our advantage and CTC consuming markets will open up more in coming days. Recession in world market has affected the export market for textile products, which has slackened the activities of textile industry of the Country. The government has to come out with adequate specific package for the recovery and growth of textile industry. The macro picture for opportunities in infrastructure businesses continues to look robust when one sees the massive infrastructure deficit in power, roads, ports, airports and railways. This augurs well for the engineering (MICCO) division of your Company. The auto industry in India is inching towards a slow recovery. With a number of new launches, the market sentiment is likely to improve, particularly for the passenger vehicle and two-wheeler segments. India is witnessing a telecommunication revolution and huge investments are also planned in the power sector. In this background, the chemical (Waldies) division of your Company is expected to do well. The economic slowdown, input cost fluctuations and growing competition are likely to pose serious challenges. In spite of impediments, your Company is fully aware of opportunities. With this in mind your Company is continually strengthening its business processes and rejuvenating its intellectual capital. We are targeting higher levels of productivity and efficiency environment that rewards meritocracy and performance. I am confident that we will continuously strive towards maximizing the stakeholders' wealth while providing enhanced customer satisfaction. I seek your continued support in our endeavours to take your Company from pan India to Global India. Yours truly, A.K. Kothari Chairman