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Lexus Granito (India) Ltd.

BSE: 535001 Sector: Consumer
NSE: LEXUS ISIN Code: INE500X01013
BSE 05:30 | 01 Jan Lexus Granito (India) Ltd
NSE 00:00 | 07 Apr 5.25 -0.25
(-4.55%)
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Lexus Granito (India) Ltd. (LEXUS) - Chairman Speech

Company chairman speech

Dear Shareholders

With great enthusiasm I welcome every one present here for the 10th Annual GeneralMeeting of your Company and share with you the progress that your Company has made amidstGlobal business challenges and opportunities.

It is my immense pleasure to present the Annual Report of "Lexus Granito (India)Limited". Firstly I would like to thank the most important pillar of our success-"Our Shareholders" who have reposed their trust in the Company during theInitial Public Offer (IPO) and thereafter.

I am pleased to inform our shareholders that during this year the Company brought itsIPO of 5760000 Equity Shares on a premium of Rs. 35 for the face value of Rs. 10 whichwas oversubscribed by 35.46 times. The company has now entered into a new phase due tothe confidence reposed by our shareholders in the company. We are indeed humbled by thecontinuous response and support of the shareholders for the entire year and pray that thesame continues for a long time period.

It is always pleasure and privilege to share with you highlights of the year'sperformance and outlook for the next year.

Our total revenue for the year was Rs. 1843851719 as compared to Rs. 1686489809in the previous year.

Our profit after tax was Rs. 69983072 as compared to Rs. 65746272 in the previousyear.

The introduction of Goods and Services Tax (GST) has been a historic reform that hascreated a single national market and will benefit consumers as well as the industry and ithad a great impact on Tiles sector even though there are no negative impacts on revenueson your Company. In this challenging business environment your Company delivered a strongperformance.

As there are always fluctuations in the Industry Customer demands and Internationalconditions hence we are always ready to change according to the situation. Company istrying to expand its operations especially in various international markets and along withit also focussing on diversification in other areas.

I am thankful to all our Stakeholders our Bankers our Investors our Vendors and mostimportantly our customers for their trust and faith. A special thanks to all the employeesof the Company for their energy and effort in the success of the Company. I look forwardfor continued cooperation and support from all stakeholders for sustained progress of theCompany in the years to come.

Warm Regards
Babulal Mahadevbhai Detroja
Chairman