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Karma Industries Ltd.

BSE: 512585 Sector: Others
NSE: N.A. ISIN Code: INE416F01019
BSE LIVE 14:27 | 23 Nov Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.34
PREVIOUS CLOSE 0.35
VOLUME 53000
52-Week high 0.36
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.34
Buy Qty 50.00
Sell Price 0.36
Sell Qty 27523.00
OPEN 0.34
CLOSE 0.35
VOLUME 53000
52-Week high 0.36
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.34
Buy Qty 50.00
Sell Price 0.36
Sell Qty 27523.00

Karma Industries Ltd. (KARMAINDUS) - Chairman Speech

Company chairman speech

KARMA INDUSTRIES LIMITED (FORMERLY KNOWN AS KARMA ISPAT LIMITED) ANNUAL REPORT 2011-2012 CHAIRMAN'S REPORT Dear Shareholders, The global economy has continued to witness a sustained growth due to growth in emerging economies led by China and India and also due to the additional stimulus in US and bailout packages in Europe. However, this had resulted in inflationary pressures which have forced many Central Banks, especially in China and India to raise interest rates. In spite of the volatile and challenging environment on raw material availability and pricing, the Company has delivered healthy growth in performance. It is a matter of pride and deep satisfaction that the Company has emerged triumphant out of the worst global financial crisis and extra- ordinary economic environment that we witnessed in the fiscal 2011-12. In the year ended March 31, 2012, the Company achieved a stupendous turnover of Rs. 746.50 Crores which is reflective of the Company's performance in the years ahead. As the economies of several nations return to normalcy, the demand for iron and steel-based goods will assume new growth levels. This is already starting to be evident in large construction activity and various infrastructure projects. Steel has been and will always be the basic requirement for India's growth story and will be the backbone of Indian industry for economic recovery. Keeping these in mind I am confident that the Company will scale new heights in the years ahead. During the year your company has completed the manufacturing setting -up a state-of-art lead and lead alloys manufacturing plant in Valsad, Gujarat with an installed capacity of 66,000 MTPA. The proposed project will commissioned in two phase - first a 24000 MTPA indigenous lead smelting - refining and casting line (hereafter referred as 'Line-I') which will operational from November, 2012 and another 42,000 MTPA imported lead smelting-refining and casting line (hereafter referred as 'Line-II') which will be import from abroad. The licensed capacity of the plant is 54,000 MTPA. In addition to the lead manufacturing, the company will import a battery breaking plant from abroad which will have capacity of 10 MTPA per hour of battery scrap. We will build on our consistent and well executed strategy to grow in the value added lead products, while being focused on allocation of captive mines for raw materials and captive power generation. Your company shall continue to create value and deliver sustainable growth while achieving best standards of safety, corporate governance, corporate social responsibility and investor communication. The Company is looking forward to the opportunity of fulfilling its objective of being a viable and innovative manufacturer and stockiest in ferrous & non-ferrous metals in the years ahead. RAJESH MEHTA CHAIRMAN & MANAGING DIRECTOR Place: Mumbai, Date : 31st May, 2012.