The Indian Economy witnessed gradual momentum in the year 2016-17 and it is expected toaccelerate in future years in view of the government's continuous efforts to push variousfinancial and agriculture reforms including technological improvement across all sectorsetc. RBI's focus on controlling inflation increasing overall demand by reducing cost oflending etc. is continuing. Further the union budget proposals have brightened theprospects for the national economy to grow with plans that are expected to boost investorconfidence and provide impetus to the rural economy which should improve overall demand.
One of the most variable and critical factor for our diversified businesses is reducingthe cost of manufacture and our company has taken various initiative for cost optimizationand increasing efficiency amongst others measures which have contributed to improvedperformance. In anticipation of the expected revival of our economy the demand and pricesof various products manufactured by the Company are likely to improve further.
I extend my sincere thanks to all our stakeholders including banks shareholderscustomers and our loyal hardworking and committed employees for their unstinted supportin shaping and improving the performance of the company.