My warm greetings to all of you.It gives me great pleasure to once again reach youthrough this annual report. This has been an exciting year for the MSL and we havedelivered a strong financial and operational performance. We continued to focus on costoptimisation and productivity enhancement.
Over the years the company has shown tremendous resilience by continuing reinventingitself to meet the dynamic requirement of the Customers. MSL continues to be a leadingplayer in Seamless Pipe industry.
At MSL we strongly believe in India's Growth Story .We have implemented multipleinitiatives improved process efficiencies to enhance our preparedness to reap the benefitfrom the initiatives of Government.
The Government focus on Infrastructure Development in Oil and Gas sector Power SectorRoads and others infrastructure spending will boost the socio-economic development andcreate demand for your company's products. India is one of the fastest growing economy andnext few years will definitely see the renewed growth.
Government of India in order to encourage domestic industrywith the objective ofbuilding globally competitive Industry and increase per capita consumption has come outwith a National Steel policy 2017. Ministry of Steel also released policy for providingpreference to domestically manufactured Iron and Steel products in Governmentprocurement.This will help create domestic demand and pave the way for country's economicas well as steel industry's growth.
MSL has been consistently investing on its trading partners to increase its marketpresence .MSL products are available throughout the country marketed by our channelpartners.
Our efforts involves frequent channel partners meets meets Incentive programmesRecognition by awards and various ATL and BTL activities on time to time basis. Thecompany also maintains a healthy relations with its actual users/buyers by providing aworld class service through dedicated team ofmarketing professionals. Keeping in line withlatest marketing trends MSL utilizes Digital Marketing skills through search engineoptimization (SEO). It help us to increase our reach to the entire world through digitalplatform.
Due to extraordinary Trust displayed by our customers and our channel partners andour thrust on No Compromise on Quality " IBC INFOMEDIA USA recognisedJindal Star' ' a brand of D P Jindal group with the title of " India's Mosttrusted Brand" for 2016.
The values and behaviours at MSL have inculcated a deeper sense of connect andengagement for its people .Our passion and determination backed by committed manpowerremains the driving force to take MSL ahead.MSL nurtures its people by emphasising onlearning and development career progression and employee welfare. The company'scommitment towards providing a healthy and safe work environment to its employees formsthe foundation of its safety process.
Beyond business we are laser focused towards our social responsibility. We believesharing knowledge and giving back to the society as our duty towards making a positiveimpact to the lives we touch. We have initiated many welfare schemes to developsustainable lives around our business premises. The impact is visible in many vital areassuch as healthcare & education and animal welfare activities.
I am confident of MSL's continued status as the leader in the Seamless Pipe Industry inIndia and of upholding the trust of our customers shareholders and partners along withsustaining the long-term commitment of our employees. On behalf of the Board I would likethank every member of my team and our Stakeholders for their efforts contributions and welook forward to 'outperform' in the coming years.
D P JINDAL