It gives me a great pleasure in welcoming you all to the 60th Annual generalmeeting of your company and have pleasure in placing the Annual Report and AuditedFinancial Statement for the year ended 31st March 2017 in order to share withyou the Financial Highlights and performance of your Company.
Review of Performance
I would now like to highlight some key of the year under review:
The Loss before tax (after interest and depreciation charges) has dropped to Rs.2021.56 Lacs as against Rs. 2653.01 Lacs for the previous year thus showing a decline of23.80% as against the previous year. While the Loss after tax was Rs. 2021.56 Lacs asagainst Rs. 2653.01 Lacs in the previous year thus dropped by 23.80 % as against theprevious year.
For financial year ended march 312017 your Company has achieved gross turnoverof Rs. 22.62 Lacs as against Rs. 563.54 Lacs for the previous period. The turnover of theCompany has shown a drop of 95.99 % as compared to previous year.
Keeping in mind the above Financial highlights the Company is making continuous effortsfor development and is heading towards becoming a significant glass producer among others.Your Directors are hopeful for the bright future of the Company in the years to come.3Business Outlook
The roadmap for the growth in the Company at its present level require collaborativerejuvenated effort and zeal tapping potential areas of business sharpening of knowledgeand skill up gradation of technology and research & development. In our onwardJourney we need utmost commitment to values ethical business conduct and transparency.Towards achieving our vision of exponential growth in the Company we need to strengthenour position in core area of project management and consultancy. Over the next decades IAGGLASS COMPANY LIMITED has committed itself to attaining global scale with optimum outputand a strong regional presence. This strategic move is to become a significant glassproducer in the industry which reflects the new mindset of the Company.
On behalf of the Board of Directors and the Management I take this opportunity tothank all shareholders for their confidence and faith in the Company our Customersvendors Banks and Financial Institutions for their continued co-operation and support. Iam also thankful to all our employees for their co-operation and consistent performance.
With warm regards