It's my proud and privilege to present the 19th Report of the Company for 15 (fifteen)months period ended on 31st March, 2013. This has been challenging Period - onethat started with great promise and ended with lots of uncertainty and change. The totalincome of the Company is Rs 12253.78/-Lakhs and there is a loss of Rs 2824.97/- Lakhs.
We compliment Managing Director and his Associate team, who worked with alacrity anddedication to stabilize Company's operations in these tough conditions. I also appreciatethe active cooperation of our employees, customers, partners, business Associates. OurBoard of Directors as usual have been very supportive and provided requisite guidance insteering through these difficult times.
This is trying time for the Company, but there is also silver lining in terms ofopportunity to put our house in order. Freeing up the cash from selling the assets whichare not more frequently used, the company thinks to pay off the liabilities. To manage andin order to reduce the loans and liabilities of the Company the Board has decided to gofor one time settlement with its creditors.
Despite of tough time, Greenearth Resources has initiated aggressive measures such as:
(a) offering innovative and improved products through our highly trained delivery andquality teams, (b) presenting the cost conscious customer 'value for money' productsthrough value engineering and cost optimization, (c) rationalizing manpower resources andmotivating them to take on additional responsibilities - the response from the dedicatedGreenearth Resources and Projects Ltd team has been marvelous; the ease with which thishas been accomplished demonstrates that sincerity of purpose and appropriate communicationcan draw the best out of people in crisis situations, (d) aggressive sales push throughinnovative marketing and (e) renewed customer orientation and focus.
We have initiated all the above steps while continuing our operations withoutdisruption to the progress of the projects. These initiatives are expected to result insubstantial improvements in operating efficiencies and reduction in cost.
Above mentioned measures combined with the moves underway to secure dedicated sourcesof coking coal is expected to greatly enhance the operating margins of the Indianoperations.
Like everyone else I look forward to better and more upbeat times when the fullpotentials of the company can be actualized. We would continue to play a significant rolein the Coal Industry. Being a responsible corporate we are committed to encourage andincrease the quality of education of employees in India through which we can make shortbut significant contribution to the less privileged sections in the society.
Finally I would like to thank all shareholders, and well wishers for their continuedsupport and trust in the Company.
With Best wishes