Ladies and Gentlemen
It is my great pleasure to welcome you all at the 29th Annual General Meeting of yourCompany - Raj Packaging Industries Limited. At the outset I would like to thank you foryour continuous trust support and patronage extended to the Company
The Directors' Report Auditor's Report and Audited Accounts with the notes thereon forthe year 201516 have been in your hands for some time now. With your consent I shall takethem as read.
RPIL is engaged in the manufacture of multilayer co-extruded plastic film and flexiblepackaging material part of plastic packaging material industry. This is sunrise industryand growing continuously.
As regard economic conditions in the world -Europe and other countries are not doingwell. With exit of Britain from Euro Zone things are not good at least in short run. Butglad to mention that India's growth story remain intact. The Indian economy remains brightspot in otherwise gloomy global economic scenario. Indian economy may probably be fastestgrowing economy with GDP growing at 7.9% during the year 2016-17.
With Central Government very active positive and making all out efforts to supportMAKE IN INDIA and support industries the outlook is very optimistic for the growth of theindustry.
The State Government has announced positive and industry friendly incentive policy fornew industries. This will result in industrial growth of the state and more new units willbe set and old will engage in expansion.
Your company is also ready to take off and take advantage of new industrial policy byexpanding the capacity and going for vertical integration by setting up facilities forPrinting and Lamination.
Your company is now debt free company and it is now on very sound platform for newcapex plan. Members will soon hear about that.
The Annual Report sent to you gives a detailed overview of your Company's performanceacross various quantitative and qualitative parameters during the year 2015-16.
The Company has been giving reasonably satisfactory financial results on continuousbasis and this year too.
During the year the company earned a total income of Rs. 37.57 lakhs against theprevious year of Rs.4518 lakhs and the profit after tax earned during the year is ofRs.98.90 lakhs against Rs. 83.56 lakhs in the previous year.
I am very glad to inform members that Management has decided to declare payment of thedividend at 5%.
I would like to thank my fellow Directors on the Board and the members of variousCommittee for their wisdom and support. I and my colleagues thank the Stock ExchangesNSDL CDSL Legal Advisors Auditors State Bank of India Government of Telangana andother State and Central Institutions for their valuable support and guidance.
Before I conclude I wish to place on record my sincere thanks to the shareholders forthe sustained confidence reposed in the Board and to our customers for their continuedconfidence in the Company.
I also thank the employees for their dedicated and sincere service and the contributionmade by them for the organization's growth and success.