As the country inches its way towards becoming the fifth largest economy in the worldwe as a corporation have experienced changes in both behaviour and values. The wave ofeconomic reform that came with the implementation of GST and demonetization supported bypolicy stimulus is beginning to take root and is moving us as a community towards a moremoral way of conducting business. With 7.5% GDP rate and an expanding middle class we arepoised for an unprecedented growth.
It has always been our philosophy to be in close proximity of our customers in orderto have a better understanding of their requirements and offer them the quickest advantageof the best and latest technology in the field of plastic packaging. We work tirelessly todevelop innovative products by adopting sophisticated techniques and modernizedautomation all in an effort to reduce costs and improve economic value. The Company'sproduct designs are equivalent to best products of similar nature in the market.
Through our extensive domestic presence we hope to extend benefits of research inleading edge polymer science and plastic processing to various industries by usingbarrier materials to extend the shelf life of dairy and processed food and by using ofspecialized thermoplastic material for packaging of liquids. This will help in retainingtheir basic characteristics. We are also at the vanguard of mould development throughsoftware analysis and direct machining. Our process involves combining materials of mouldconstruction for better quality controlled moulded parts that results in faster and moreprecise mould manufacturing. Two of our facilities are now certified as 'Green Channel'partners in addition to having the requisite ISO compliances pending SEDEX approvals.With this we hope to standardize our promise of superior quality which is the hallmark ofour brand which generates sustainable value for the members.
After rebuilding of our Rohtak facility we have not only reworked and updated ourexisting plants but are also building state of the art facilities at Mysuru andVishakhapatnam (Vizag) at the behest of one of the Company's most trusted partners. Theseplants will be operational before the end of the next financial year and will add to ourtotal processing capacity.
We are also now fully compliant with the newly mandated Indian Accounting Standard(IND-AS).
It has been our resolute mission to promote life skills and value education through ourCSR arm 'Sab Ka Mangal Ho Foundation'. We have planned and successfully implementedvarious projects like free eye check-up camps in industrial areas and mid-day mealprograms for under privileged children. Now we are determined to bring yoga education tochildren in various orphanages. The project was initiated in February 2018 and we havealready completed the pilot projects at six orphanages in Mumbai and Pune and hope toextend this initiative across the country as this project is a prized initiative of theCompany with which it hopes to enhance the quality of life and transform millions oflives.
Lastly I would like to express my gratitude to you all for your continued support andfaith in your Company's endeavours.