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Hariyana Ship Breakers Ltd.

BSE: 526931 Sector: Others
NSE: N.A. ISIN Code: INE400G01011
BSE LIVE 15:47 | 23 Oct 79.85 -3.15
(-3.80%)
OPEN

83.50

HIGH

83.50

LOW

79.85

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 83.50
PREVIOUS CLOSE 83.00
VOLUME 356
52-Week high 96.00
52-Week low 62.00
P/E 5.06
Mkt Cap.(Rs cr) 49
Buy Price 79.85
Buy Qty 242.00
Sell Price 0.00
Sell Qty 0.00
OPEN 83.50
CLOSE 83.00
VOLUME 356
52-Week high 96.00
52-Week low 62.00
P/E 5.06
Mkt Cap.(Rs cr) 49
Buy Price 79.85
Buy Qty 242.00
Sell Price 0.00
Sell Qty 0.00

Hariyana Ship Breakers Ltd. (HARIYANASHIP) - Chairman Speech

Company chairman speech

HARIYANA SHIP BREAKERS LIMITED ANNUAL REPORT 2005-2006 CHAIRMAN'S REPORT CHAIRMAN'S MESSAGE Dear Shareholders, The global steel industry has continued strong demand growth during the year. However, depressed prices have put pressure on margins. This years was a significant one for he global minerals and metals industry with considerable volatility in prices. The global steel, special steel and stainless steel demand registered a strong growth. As in the previous year, this growth was largely driven by the two emerging forces in the global steel industry India & China leading to a continued strain on the raw material supply chain thereby affecting industry profitability for a part of the year. The consumption of finished steel products world-wide increased to over 1 billion tones, an increase of 40 million tones. Steel production and consumption in China continued to outstrip global growth rates. The Indian economy continued to see robust growth across most sectors and the 8% growth rate appears to be sustainable. The Indian corporate sector has shown its confidence in the country's economic fundamentals by committing significant amount of capital towards the creation of new capacity in several sectors. The Indian steel industry has also increased production to cater to the higher consumption levels. Due to a highest ever net realization, the company was able to achieve its highest profit before tax Rs.3,06,69,588/- as well as profit after tax Rs.2,26,69,204/- & the board has recommended a dividend of 20% to shareholders. Realizing the short supply of ship and a slow down in the re-cycling industry, the company has concentrated this year in the business of manufacturing of sponge iron and trading & finance. I wish to place on record my appreciation and hard work of all our employees, whose constant value creation endeavors have yielded excellent results. I am also grateful for the continuing support of my colleagues, our customers, business associates, shareholders and the members of the Board. I am sure, meet the challenges ahead and enable the company to successfully fulfill its long term vision. At the end, I would like to cordially invite all the shareholders of the company to attend the Twenty Fifth Annual General Meeting (AGM) on Tuesday, September 26, 2006 at 11.00 a.m. at 41, Persepolis Apt., Cuffe Parade, Mumbai 400 005. Shanti Sarup Reniwal Chairman Mumbai 10th August 2006