Greetings from Madhav!
I am delighted to once again be a bearer of good news and report another year of goodperformance at your company. Your Company has come up with an IPO in February 2017.
We are incorporated in India and all of our assets and employees are located in India.As a result we are highly dependent on prevailing economic conditions in India and ourresults of operations are significantly affected by factors influencing the Indianeconomy. Factors that may adversely affect the Indian economy and hence our results ofoperations may include:
Any increase in Indian interest rates or inflation;
Any scarcity of credit or other financing in India resulting in an adverse impact oneconomic conditions in India;
Prevailing income conditions among Indian consumers and Indian corporations;
Volatility in and actual or perceived trends in trading activity on India's principalStock Exchange(s);
Changes in India's tax trade fiscal or monetary policies;
Prevailing regional or global economic conditions including in India's principalexport markets; and
Other significant regulatory or economic developments in or affecting India or theindustries in which we operate.
Any slowdown or perceived slowdown in the Indian economy or in specific sectors of theIndian economy could adversely impact our business and financial performance and theprice of the Equity Shares.
Our people strategy has always been to recruit and retain people with leadershipqualities. We invest in our people and believe they are one of the major reasons for oursuccess. We believe that growth of our people precedes the growth of the company. Wepromote leadership within our ranks by offering people greater responsibility with thefreedom to perform to their best.
Viewing back from here today we can see that it has been a year of great transitionfor Madhav Copper Limited. On 6th February 2017 the Equity shares of yourcompany got listed on NSE Emerge Platform and we are proud to be a listed company. Wewelcome all members to our family. It was because of your confidence in us that we havereached this coveted position and we look forward to your continued support and confidenceto take the company to better heights.
Our growth story to my mind has been largely due to our Unique Business model as wellas our striving excellence. We have great vision and power of innovation in the field ofEnamelled copper wire triple poly wrap submersible winding wires Bare Copper WireCopper Strips Copper profile Copper Lamination & Copper End Ring. We draw ourstrength and quality from the art manufacturing facilities. Also the latest PC basedequipment for measurement of
Dielectric Dissipation Factor and well equipped quality testing laboratories ensuresconsistent wire quality during production.
During the year your Company have significantly poured efforts and as result theturnover of the Company has been increased to Rs. 4429553 compared to Rs 356171865 inthe previous year.
I would also like to reiterate that our desire for future expansions through increasedproduction by new Machinery and to improve the depth of our business to provide thedesired growth strategy still prevails and we are constantly surveying the horizon in thisregard.
I would like to conclude with a sense of confidence and strong optimism that we arestriving and will continue to strive for a sustained and enduring growth across ourvarious product divisions.
I take this opportunity to express my sincere thanks to all the shareholders for theircontinued trust in the Board of Directors and the Management of the Company. On behalf ofthe Company I would also like to thank all our stakeholders - customers dealerssuppliers other business associates the Government and regulatory agencies and employeesfor their invaluable support and co-operation in the year gone by and expect similarsupport in the years to come.
|Thank you. |
|Nilesh Patel |
|Chairman & Whole time Director |