Dear Fellow Share Owners
I have the privilege of leading and nurturing this organization for last more than 3decades and it has been an exhilarating journey.
At the outset I reiterate that we at KPL continually strive to enhance value forinvestors. We have a principle of providing consistent pay out to investors by way ofDividends or incremental Capital in the interest of building long term stake holder value.
We always believe that growth opportunities are immense for those who make a successfultransition to the new business models and align into new ways of working with continuity.
It is with a sense of pride that I write to you that your Company has once againregistered a sustained growth in terms of Profits and operations are satisfactory lookingto the overall environment. Yet again showing financial prudence and conservativeapproach your Directors have recommended a sustainable same dividend this year as well.
"One Nation One Tax" is the reality of the day ! GST implementation inter-alia shows the maturity and political will to take series of unprecedented steps towardseconomic reforms by the current dispensation at the centre. These historic steps shallchange the perception to do business all over. Although in the short term domesticeconomic growth showed some pressure but not to such extent as was anticipated. In view ofbenign inflation stable interest rates and by and large stable crude oil prices etc.these initiative will definitely accelerate the economic growth and investment environmentin the country. Enactment of RERA will also give impetus to the Real estate sector growthespecially to the actual consumer.
Last year I discussed about the uncertain International economic scenario we are stillat the crossroads. Period under review witnessed a fast changing political narrativesacross the globe although we witnessed a less volatile currency market future challengesstill exist. The geo political environment remained fluid but horizon is looking to bebright due to pick up in Global economic activity with a long- awaited cyclical recoveryin investment manufacturing and trading the confidence and market sentiment remainstrong growth could indeed surprise on the upside.
Your Company has continued to be a purposeful contributor in our communities throughits various CSR initiatives to uplift the deprived society through social programs. We arededicated for providing quality education and empowering the elders of our society byundertaking projects of educational institutions & old age care centres and have spent' 1.43 cr. in the financial year under review.
I would like to extend my gratitude to all the stake holders including consortium ofBanks lead by Allahabad Bank for their continued support and faith in us. I would alsolike to thank entire TEAM and my fellow colleagues on the board for their valuable supportand guidance.
In the end I may say that in view of the bold initiatives for economic reforms we arewitnessing a resurgent India.
With best wishes
Place : Kanpur
Dated : 29th July 2017