It gives me great pleasure to share with you Company's performance which has been wellas compared to previous years. The year had its opportunities and challenges which Companyhas navigated very well.
Surya Roshni is a diversified company with two broad business streams: Steel andLighting. Both the businesses are distinct with their respective growth opportunities. Wehave been successful in seizing these opportunities to continuously achieve more. Our LEDsegment has been growing at an impressive rate.
We have introduced new range of products in the LED segment during the year which hasgiven us an edge. Further backed by our state- of-the-art research centre we willcontinue to enhance our product offering in the LED segment.
Our venture into Fans and Home Appliances businesses has also yielded fruitful resultsas we surpassed Rs 130 crore in the fan business during the year. We are aggressivelyleveraging our vast distribution network and expanding our presence across various statesin India.
The steel business has also remained stable even in the turbulent business scenario.There has been great volatility in the basic raw material prices but our business acumenhas helped us to successfully sail through it. The steel business scenario is turningaround after imposition of safeguard duty and minimum import price (MIP) which hasresulted in an increase in volume of Steel division by 16% during the year.
We are further strengthening our steel business adding new products and merging ourassociate company Surya Global Steel Tubes Limited with Surya Roshni Limited. This wouldbring in economies of scale further fortifying our steel division.
The board and management team is doing a very good job in leading the Company to attainmore and also aspire for more.
Also the Company has been socially responsible and dedicated its resources towards thebetterment of society through Surya Foundation which continues to work for enhancing thequality of life. We focus to develop youths and also on spreading the importance ofhealth.
I would like to take this opportunity to thank senior management team for steeringCompany to newer heights and all our employees for their passion and dedication towardsthe Company. I would also like to thank all our stakeholders bankers and customers forsupporting and motivating us to aspire and attain more.
Jai Prakash Agarwal