Dear Fellow Shareowners
My colleagues on the Board and I extend warm welcome and express their gratitude to theall present here at this 36th Annual General Meeting of your Company. The Board Report andAudited Financial Statements of the Company for the year ended March 31 2016 along withthe Auditors' Report thereon has been with you.
During FY 2015-16 the global economy witnessed a spill-over of the heightenedvolatility and uncertainty from earlier years. In addition to concerns in various largeeconomies like China Japan and some European nations the trends in commodities andcurrencies have exerted pressure on both developed economies and emerging markets. As aresult global growth rates continue to be sluggish.
The Central Government in its second year has begun to implement initiatives aimed atreshaping growth trends for the country. The focus on financial inclusion improvedinfrastructure revival of the rural economy and impetus on local manufacturing areimportant thrust areas that will benefit consumption patterns in India. Furthermoreinitiatives like Make in India and Digital India 'Start Up India Stand Up India' andprojected India as an important destination for manufacturing activity it will play avital role in driving the Indian economy. An expected normal Monsoon in FY 2016-17 willgive agriculture growth kick which will prove good for Indian Economy and should liftupward.
Amidst such a scenario your Company continued to deliver stable operational andfinancial progress during the period under review. We are delighted to see our revenuefrom operation achieving new milestone of Rs.21432.63 lacs in FY 2015-16 as againstRs.18589.93 lacs in FY 2014-15 an increase of 15.29% on a year on year basis. KGPL alsoachieved its record level of export (FOB) Rs.16574.67 lacs in F.Y. 2015-16 in comparisonto Rs.14810.95 lacs in FY 2014-15 thus increased by 11.91 %. Profit after tax was Rs.926.88 lacs as against Rs.208.71 lacs in the previous year. These results were fuelled bythe remarkable acceptance of our product in overseas as well as in domestic market.Further we do believe that the multiple initiatives taken this year will result inbenefits that will be sustained and far-reaching in nature.
As we look ahead to greater prosperity in the years ahead I would like to express myappreciation to all our employees for their contribution towards the performance of KGPL.I would also like to extend my gratitude towards our Customers and suppliers for theirloyalty and trust in us. And to all of our shareholders I would like to express mysincere appreciation for their continued encouragement and support.
With Best Wishes