You are here » Home » Companies » Company Overview » Parekh Aluminex Ltd

Parekh Aluminex Ltd.

BSE: 532606 Sector: Metals & Mining
NSE: PARAL ISIN Code: INE620C01013
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 00:00 | 08 Jul Stock Is Not Traded.
OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Parekh Aluminex Ltd. (PARAL) - Chairman Speech

Company chairman speech

PAREKH ALUMINEX LIMITED ANNUAL REPORT 2011-2012 CHAIRMAN'S REPORT Dear Shareholders, First and foremost I am highly obliged for having kept faith and invested confidently in your Company. It is my privilege to be at the helm of the affairs of a Company which is progressively taking giant strides and buoyantly exceeding prevailing industry norms. It is a pleasure to be dealing with everyday challenges as those challenges not only re-define our limits but also empower us to out- perform. It gives me immense pleasure to announce that your Company has posted 52% growth in the top line and 26% growth in the bottomline compared to last year. The production capacities have increased by 15%. As usual the Company did not have to contend with any rejections - showing its unique strength in quality controls. Overall exports grew by 76%. There were zero bad debts, showcasing the Company's controls. This year the Company expects to have a topline growth of approximately 40% based on the Company's order - book size and its execution capacity. Going by the vectors of the potential and promise, there is a great future for the products of the Company. Domestically many states are banning plastic, the best replacement to that is your Company's products. Your Company's products are 100% recyclable, eco-friendly, aesthetically appealing, safe, convenient and comparatively cheaper. A further boost to the product demand comes from changing lifestyle from 2 and 3 tier cities. Today the issue which the Company is facing is not in respect of sales but of making the products available to public at large. Until some time back the Company was catering to Railways, Airlines, Railway Contractors, base kitchens, flight caterers, restaurants, fast food chains, bakeries, hospitals, hotels, etc. Now the Company has begun sales to outlets of Bharti Walmart, Reliance, Big Bazaar etc. The Company wants its presence in the pan- India's retails shop outlets, so that the Company's products become household necessity products. For the said purpose the Company is in the midst of organizing a new team, logistics, branding and advertisements. Hopefully we should be able to achieve our goal of starting the retailing of the Company's products early next year. In the overseas market your Company is acquiring US based American Foils. The reason is that your Company already makes Rs. 936.98 million sales to the US. With this acquisition there would be lots of synergies which would help the Company to augment its sales in the US market by double digit year on year. For the other markets like the UK and Middle East, the demand is already rising for your Company's products, but as per the policy, our first preference is domestic sales, as in India the market is still at a very nascent stage and there is a huge growth potential on the horizon. To conclude, I would like to thank all the Investors, Bankers, Financial Institutions, Employees, customers and vendors who have stood by the Company and have put in faith and loyalty. Further, being at the helm of the affairs, I would like to consolidate the Company with a strong foundation, system driven efficiency, satisfaction to the core for the employees, trusted product for the mass consumers, and an incremental value addition in the value chain for Investors, stake holders, and above all for our clients and consumers. It will be my endeavour to see that the Company meticulously adheres to the norms of Corporate Governance, following the rules and regulations of the land, being eco-friendly as far as possible and o t try to do whatever is possible for the uplift of the weaker sections of the society. With regards Amitabh Parekh Chairman and Managing Director Date: August 25, 2012.