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Sri Vajra Granites Ltd.

BSE: 515081 Sector: Others
NSE: N.A. ISIN Code: INE047H01018
BSE LIVE 13:06 | 15 Jun Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.25
PREVIOUS CLOSE 4.09
VOLUME 100
52-Week high 5.81
52-Week low 4.09
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.25
Sell Qty 200.00
OPEN 4.25
CLOSE 4.09
VOLUME 100
52-Week high 5.81
52-Week low 4.09
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.25
Sell Qty 200.00

Sri Vajra Granites Ltd. (SRIVAJRA) - Chairman Speech

Company chairman speech

1994 VAJRA GRANITES LIMITED CHAIRMENS SPEECH LADIES & GENTLEMAN I have great pleasure in welcoming you to the Fifth Annual General Meeting of the company. The Director's report and Annual Account of the Company for the year ended 31st March 1994 have been with you some time nad with your permission I will take them as read. India is in a very advantageous position due to its vast Granite deposits, which are available in spectacular coloours. The Granite Industry acheived worldwide steady growth and exports from India are growth-up. Indian Granite Exporters gearing upto a larger amonut of the Global Granite Market which is growing at the rate of 10% annually. Even though India is leader in the Granite Industry, as it has nearly 30% of the world reserve, production-wise India constributes only 0.4 millons M.T. to the world production of 10.0 millon M.T and lags far behind its Foreign Conterparts. One of the main reason for such dismal performence is non- adoption of modern mining and processing technology. The modern quarring system adopted in other Contries are yet to be introduced in India. Lack of technology has been forcing th eplayer in this industryto Export Granite rough block instead of processing Granites, even though processed Granite attract better margin. This trent slowly Granite production is exported. The exports which was Rs 1200 crores in 1988-89 has increased to Rs 3000 crores in 1992-93 and estimated at Rs 5000 crores in 1993-94. This industry has tremendous growth potrntial and the expors to Japan, Europe, United State nad South Asian market is already gaining momentum after the recesion pravailed in the earlier years. The overall operations of the Company for the year ended 31st March, 1994 have resulted in a net loss of Rs 76.59 lacs. Your Company operation's during the year were not necouraging due to want of sales orders. However your Company has made a profit of Rs 24.70 lacs before deprections snd intrest. We have taken corrective action and improved the marketing thrust and your Company is presently having orders on hand around Rs.200.00 lacs. The sales during th esix months i.e; april'94 to September'94 have been Rs.204 lacs as against Rs.152.00 lacs for the whole year 1993-94. Your Company made a net profit of Rs.25.64 lacs for half yearly ended 30th September'1994. The position is expected to improve futher from October'94 onwards. On behalf of the Board of Director and myself, I must place on record our appreciation for continued sincere effort put in by the staff of the Company. We have very cordial relation with our staff at all levels and I take this oportunity of thnaking them for their good work and co-operation. I would like to convey oursincere thanks to the Financial Institutaion viz. The Industrial Development Bank of India, Industrial FInance Corporation of India, Industrial Credit & Investment Corporation of India, State Bank of India and locasl Goverment authorities for their continued coperation and support. The Borad wished to welcome Sri A Hamini Reddy, who was inducted on the Board as additional Director/managing Director. I would like to record my thanks to the member of the Board for their invaluable advice and guidance from time to time and above all the Shareholders for their sustained confidence in the Company. Thanking you, Dt 26-11-1994 V. N. Nadkarni