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Focus Industrial Resources Ltd.

BSE: 534757 Sector: Financials
NSE: N.A. ISIN Code: INE603E01023
BSE 00:00 | 27 Feb 1.27 0
(0.00%)
OPEN

1.27

HIGH

1.27

LOW

1.27

NSE 05:30 | 01 Jan Focus Industrial Resources Ltd
OPEN 1.27
PREVIOUS CLOSE 1.27
VOLUME 156
52-Week high 2.63
52-Week low 1.27
P/E
Mkt Cap.(Rs cr) 2
Buy Price 1.27
Buy Qty 6.00
Sell Price 1.25
Sell Qty 500.00
OPEN 1.27
CLOSE 1.27
VOLUME 156
52-Week high 2.63
52-Week low 1.27
P/E
Mkt Cap.(Rs cr) 2
Buy Price 1.27
Buy Qty 6.00
Sell Price 1.25
Sell Qty 500.00

Focus Industrial Resources Ltd. (FOCUSINDUSTRIAL) - Chairman Speech

Company chairman speech

The last financial year has been an eventful year for the economy with the roll-out ofGST the residual impact of demonetisation the introduction of Indian Bankruptcy Code(IBC) and the NPA problem in the banking sector. However towards the end of the yeargreen shoots in the economy were visible and the economy seemed poised for stable growth.The Indian economy expanded by 7.7 percent in the last quarter of FY18 the fastest in thelast eight quarters although rising crude prices and macro headwinds both global anddomestic could prolong the journey to stable growth. Against this macroeconomic backdropI am pleased to inform you that our businesses have delivered a healthy performance inFY18 and thereby building a foundation for future growth.

Economy and business outlook A broad-based cyclical upturn was visible across theglobal economy during the year under review and this got reflected in recovery ininvestment manufacturing trade and the firming of commodity prices. Howeverprotectionist moves by the US government and partial retaliation by China have raisedconcerns about the future of global trade. But more importantly the growing uncertaintyin global geopolitics and the recent surge in crude oil prices are two factors that willhave a bearing on the pace of global economic recovery. Several of the developed economieshave either stopped or are in the process of slowing down their monetary expansionprogrammes undertaken in the aftermath of the global financial crisis a decade ago. Butdespite that the emerging markets have not witnessed any major outflow of foreign capitalas there has been a steady flow of liquidity from Japan and China to these markets. Thedomestic economy grew 6.7 per cent in 2017-18. Although this is lower than the growthachieved during the previous fiscal the point to be noted here is that considerableprogress has been made on a number of fronts during the year under review the impact ofwhich will start manifesting in the coming months and years. The government's effortstowards enhancing India's attractiveness as an investment destination have started bearingfruits. India has made substantial progress in improving its ranking on various parameterslike Ease of Doing Business Index Competitiveness Innovation and Logistics Performance.Meanwhile resolving the 'twin balance sheet problem' through the Insolvency andBankruptcy Code (IBC) route has got under way. However the IBC is still evolving and theprocess will get fine-tuned gradually over the next few years. At least the IBC has beenensuring quicker resolution of stressed assets. The biggest achievement during the yearunder review was the roll-out of the Goods and Services Tax (GST). Despite some initialdocumentation-related problems faced by smaller enterprises GST is a giant step forwardin creating a stable and transparent taxation regime and will reap rich dividends for theeconomy.

The Company's focus extends beyond the profit of a year. It extends to sustainablegrowth across market cycles. This sustainability is determined by our capacity to enhancestakeholder trust and value. If they gain we gain; if they grow we grow.

To sum up FY18 has been a challenging year for us. I am proud of our employees whodespite the challenges faced have worked hard to create consistent value for the company.I take this opportunity to thank each one of them for their sincere efforts. I also thankyou - our valued Shareholders for placing your confidence in us. I look forward to yourcontinued support..

Regards Sd/-

Mamta Jindal

Managing Director & Chairperson