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Golkonda Aluminium Extrusions Ltd.

BSE: 513309 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE327C01023
BSE LIVE 14:59 | 18 Aug 2.31 -0.12
(-4.94%)
OPEN

2.55

HIGH

2.55

LOW

2.31

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.55
PREVIOUS CLOSE 2.43
VOLUME 7250
52-Week high 5.08
52-Week low 2.31
P/E
Mkt Cap.(Rs cr) 3
Buy Price 2.31
Buy Qty 200.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.55
CLOSE 2.43
VOLUME 7250
52-Week high 5.08
52-Week low 2.31
P/E
Mkt Cap.(Rs cr) 3
Buy Price 2.31
Buy Qty 200.00
Sell Price 0.00
Sell Qty 0.00

Golkonda Aluminium Extrusions Ltd. (GOLKONDAALUMIN) - Chairman Speech

Company chairman speech

PENNAR PROFILES LIMITED Chairman's Review I welcome you to the Tenth Annual General Meeting of your Company. The aluminium extrusion industry in India is presently going through a very difficult period due to fall in demand. The growth expected in infrastructure, communication, construction and automobile sectors in the country has not materialised. The aluminium extrusion industry has also suffered due to recession in the country. There has also been a significant increase in the supply position as 25 new extrusion units have commenced operation, four of them in Hyderabad itself. This has resulted in a steep fall in prices and unit contributions. The performance of your Company was affected due to this intense competition. Your Company has developed a good export market base in Europe. The demand for aluminium extrusions in this market is very huge. The Company has doubled its export turnover during the second half of the year under review compared to the previous year. The Company's efforts will be to put a strong emphasis on increasing exports. Since your Company's sales are export based, it would be possible to avail cheaper credit to reduce financing cost. The product development exercise undertaken in the industrial segment during the year has started yielding results. Your Company would concentrate more in this segment during the coming years to improve its performance. You are aware that this Company was a sick company at the time of its takeover by the Pennar Group and was turned around earlier. Considering that the Company has developed a good export market, it would be possible to achieve a turnaround again. During the period under review, KPMG Peat Marwick LLP, USA, has reviewed the ISO 9002 Certification and reaccredited your Company. I wish to conclude by expressing my sincere thanks to all my colleagues on the Board for their cooperation and guidance. I thank you for the support and encouragement to the Company. Hyderabad Dr N Kondal Rao March 22, 1999 Chairman