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P.M. Telelinnks Ltd.

BSE: 513403 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE092C01015
BSE LIVE 15:14 | 16 Nov 5.00 0.07
(1.42%)
OPEN

5.00

HIGH

5.00

LOW

5.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 5.00
PREVIOUS CLOSE 4.93
VOLUME 25
52-Week high 7.70
52-Week low 1.81
P/E 100.00
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.69
Sell Qty 6600.00
OPEN 5.00
CLOSE 4.93
VOLUME 25
52-Week high 7.70
52-Week low 1.81
P/E 100.00
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.69
Sell Qty 6600.00

P.M. Telelinnks Ltd. (PMTELELINNKS) - Chairman Speech

Company chairman speech

1994 SURANA STRIPS LIMITED CHAIRMAN'S SPEECH Ladies & Gentlemen On behalf of the Board of Directors and, on my own behalf, I extend to you all a warm and cordial welcome to this 14th Annual General Meeting of the Company. The Director's Report and the Audited accounts for the year ended 31st March 1994 together with the Auditor's Report have been with you for sometime, and with your permission, I take them as read. THE ECONOMY The past year has been a year of remarkable changes as far as the Indian economy is concerned. These changes have resulted in the interplay of an entirely new set of market forces, that have redefined quality, competetiveness and customer preferences. These in turn have set exciting new challenges for your Company. Responding to these challenges requires development of a new focus for its activities, a restructuring of the Organisation and retraining of its personnel. In fact it requires a whole new corporate culture. THE INDUSTRY VIZ A VIZ THE COMPANY As far as the Steel Industry is concerned, the first half of the year was a period of recession. The annual budget too did not offer any benefits to the Steel Industry. It is a matter of pride for us that despite an unfavourable environment, the company has achieved a Sales turnover of Rs.2,794 lacs registering an increase of 38.73% over that of the previous year. The profit after tax of Rs.108.53 lacs as compared to Rs.74.60 lacs of the previous year also shows an increase of 45.5%. DIVIDEND Friends, a year ago, you invested your trust in us and today its only natural that you reap its fruits. Though the compahy has gone public only in 1993, its a matter of pride that we have been able to recommend a dividend of 15% in the very first year to all the shareholders without going through the normal gestation period.The total outflow on account of Dividend amounts to Rs.51.40 lacs as against Rs.23.94 lacs during the previous year. CURRENT YEAR'S PERFORMANCE The current year's performance has been very encouraging. For the Six month's ending 30th September 1994 the company will acheive a turnover of Rs.l9 crores as against Rs.14 crores during the same period last year. With power cuts removed and with the resulting improvement in production, the company's projected turnover is Rs.52 crores as aginst Rs.28 crores acheived during the last year showing an annualised growth of 86%. PERSONNEL Our Corporate philosophy is embedded in one word 'GROWTH'. At Surana Udyog we have endeavoured to motivate our Staff at all levels to achieve this objective. People love challenges and perform best when they believe in their organisation and its mission. FUTURE OUTLOOK Your Directors see a bright future ahead for your company with the consumption of Iron and Steel Products poised to double in the next five years. The Expansion programme undertaken by the company for increasing the rolling capacity for the manufacture of C.R. Steel Strips from 20,000 to 50,000 Mts has been completed and well accepted by the Market. The Company's diversification into high value added items like 'E.D.D. Quality' is expected to result in substantial increase in profits. On the Export front, the company is already exploring the possibilities of Exports to Bangladesh and things are at an advanced stage. Friends, we have a dream and we need your good wishes and support to realise it. ACKNOWLEDGEMENTS I take this opportunity to thank my Colleagues on the Board for their valuable guidance and to thank the Government Authorities, the Financial Institutions, our Bankers, our esteemed Customers and the Shareholders for their Cooperation and support. I also wish to thank all the Staff and personnel for their dedication and hard work. I conclude with the following lines "HAVE DREAMS, BECAUSE IF DREAMS DIE, LIFE IS A BROKEN WINGED BIRD THAT CANNOT FLY". G. MANGILAL SURANA CHAIRMAN AND MANAGING DIRECTOR