Welcome to the 17th Annual General Meeting of the Company.
I am pleased to bring to you the business results delivered by your Company for theFiscal Year 2011-12. The excellent support and confidence shown by you in your company hasallowed us to cross numerous milestones which in-turn has created value for all ourstakeholders.
Your Company has always followed a purpose driven growth strategy and is committed toimprove the lives of its consumers with its quality products. The annual sales increasedfrom Rs. 77.25 Crores in the Financial Year 2010-11 to Rs. 90.12 Crores in the FinancialYear 2011 -12. However due to the increase in the prices of raw materials, labor cost,increased power cuts the company could not achieve profits during the year under review.The Company is planning to reach larger market by introducing new products, increasing itsarea of operation in North-Eastern States, Exporting to Middle-East & South-East AsianCountries and opening of Depot in high potential States of Madhya Pradesh and UttarPradesh.
Your Company has complied with the guidelines on Corporate Governance. The philosophyof the Company is to ensure transparency in all its dealings and compliance of country'slaws and regulations in order to promote ethical conduct of business. A separate sectionon corporate governance furnishing applicable details forms part of the Directors' Report.
We will always be committed towards innovation and improvisation which will continue inthe future as well. I would also attribute our success over the past years to ouremployees who have the ability to proactively influence the business of the Company. Ialso thank our shareholders for believing the Company and we look forward for theircontinued support in the future.
Finally, I must express my profound gratitude to all of you, dear shareholders, for thesteadfast confidence you have reposed in the Company.
|Date: 05.09.2012 ||M Srinivasa Reddy |
|Place: Hyderabad ||Chairman & Managing Director |