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Madhav Copper Ltd.

BSE: 538398 Sector: Metals & Mining
NSE: MCL ISIN Code: INE813V01014
BSE 05:30 | 01 Jan Madhav Copper Ltd
NSE 00:00 | 24 Apr 328.00 0
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Madhav Copper Ltd. (MCL) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me immense pleasure to share about the performance of your Company for theyear 2017-18. It was a transformative year with the introduction of the Goods and ServicesTax (GST) an important development that has created a single national market and willbenefit both consumers as well as the industry including the Consumer Goods sector. Whiletrade conditions remained volatile during early implementation they have since stabilisedand there is a gradual improvement in overall demand. In this challenging businessenvironment your Company delivered a strong performance.

During the Year under review your Company has earned operational income of Rs. 168crores and other income of Rs. 21 lakh. Profit after tax for the year under review is Rs.2.36 crores. Earning Per Share ("EPS") of the Company for the Current year isRs. 11.53.

Your Company is already having one branch office at Coimbatore Tamil Nadu. Due toincreased demand from customers your Company has opened a new branch office at AhmedabadGujarat for quickly delivering goods to the local and nearby customers over there. I wouldlike to add here that both the branch offices of the Company have reported remarkableperformance during the year under review.

As communicated in previous year report we are undergoing expansions through increasedproduction by new Machinery which will results in added capacity to our existingmanufacturing capacity as well as introduction of new products i.e Copper Bus BarsProfile Copper Stripes Oxygen Free Copper Rod Paper Insulated Copper Conductor FiberGlass Copper Conductor. The project will be in full fledge functioning by end of December2018.

I would like to conclude with a sense of confidence and strong optimism that we arestriving and will continue to strive for a sustained and enduring growth across ourvarious product divisions.

I take this opportunity to express my sincere gratitude to all the shareholders fortheir continued trust in the Board of Directors and the Management of the Company. Onbehalf of the Company I would also like to thank all our stakeholders - customersdealers suppliers other business associates the Government and regulatory agencies andemployees for their invaluable support and co-operation in the year gone by and expectsimilar support in the years to come.

Thank you.

SD/

Nilesh Patel

Chairman & Whole time Director