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Karnimata Cold Storage Ltd.

BSE: 537784 Sector: Others
NSE: N.A. ISIN Code: INE576P01019
BSE LIVE 12:10 | 12 Jul Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 8.32
PREVIOUS CLOSE 10.40
VOLUME 12000
52-Week high 14.00
52-Week low 8.32
P/E 42.86
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.32
CLOSE 10.40
VOLUME 12000
52-Week high 14.00
52-Week low 8.32
P/E 42.86
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Karnimata Cold Storage Ltd. (KARNIMATACOLD) - Chairman Speech

Company chairman speech

CHAIRMAN

Dear Shareowners

With great joy I am welcoming you to the Company’s 3rd Annual GeneralMeeting. This AGM assumes immense significance as it is our first AGM post the IPO(Initial Public Offering) of the Company. We must record our sincere thanks andappreciation to all those who applied in our in our IPO and have stood by us with theirinvestments.

A wonderful benefit of this opportunity was the addition of a number of new shareownersinto the KCSL (Karnimata Cold Storage Limited) family and I along with the Board and allthe existing shareowners warmly welcome them and look forward to a bright future togetherwith everyone's strong support and participation.

In order to augment our capital base for providing Seasonal Loans to farmers/ tradersyour Company came out with its Initial Public Offering of 1518000 equity shares withface value of Rs. 10/-each at a price of Rs. 20/- (including securities premium of Rs.10/-). The issue was accepted well in the market and was oversubscribed by 2.33 times. Theshares were allotted to successful allottees on 12th March 2014 and listed onthe SME Platform of BSE for trading from 18th March 2014.

The Listing of the Company was an important milestone and the next step is to take theCompany to a higher level of growth and operational scale. As of being listed theCompany’s public profile raises with customers suppliers investors financialinstitutions etc. and at the same time it added more responsibilities and more compliancewhich we are sure to take care with the support of our team.

The Company did quite well in FY 2013-14 reporting a rise in its revenues and profitsas can be seen from the Annual Report.

Looking at the overall picture and business environment I feel we have made goodprogress in FY 2013-14 inspite of the fact that your Company's Board and management hadintensively invested its time and resources to roll out the Company's IPO successfully.Now we should be able to post even better results next year as we are all set to stronglyfocus on taking our business to higher levels of operational excellence and growth. Thisgives me the confidence to say that with Nature's blessings team's hard work and yoursupport; we shall be able to report better results for the next year.

To proceed the Board believes that the Company will need to follow a very sharpbusiness strategy so that it will possible for the Company to compete with others andfulfill the needs of the farmers and traders of potatoes. The endeavor of theCompany’s management is always striving towards the optimal results and strengtheningthe relationship with the farmers and traders of potatoes.

With your support I am confident of leveraging opportunities and overcoming challengesto report exciting success in the coming times as well. Thank you once again for the amplesupport to the Company and your solid belief in the Board and the Management.

Warm Regards

Pradip Lodha

Chairman.