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Mangalam Industrial Finance Ltd.

BSE: 537800 Sector: Financials
NSE: N.A. ISIN Code: INE717C01025
BSE 00:00 | 23 Jul 2.87 0.13
(4.74%)
OPEN

2.87

HIGH

2.87

LOW

2.87

NSE 05:30 | 01 Jan Mangalam Industrial Finance Ltd
OPEN 2.87
PREVIOUS CLOSE 2.74
VOLUME 194171
52-Week high 2.87
52-Week low 0.26
P/E 287.00
Mkt Cap.(Rs cr) 276
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.87
CLOSE 2.74
VOLUME 194171
52-Week high 2.87
52-Week low 0.26
P/E 287.00
Mkt Cap.(Rs cr) 276
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mangalam Industrial Finance Ltd. (MANGALAMINDUSTR) - Chairman Speech

Company chairman speech

From the Chairman’s Desk

Dear Shareholders

The financial year 2013-14 has been a challenging one. The year began with a difficultoutlook and at one point of time it seemed that India was headed towards a period ofsevere economic slowdown. Economic growth was clouded by a high inflationary environmentand mounting fiscal imbalance on account of elevated commodity prices primarily Oil andGold. The year did in the end witness a decadal low in GDP growth. The recentdepreciation in the Rupee may translate into further stress on the economy.

However I am pleased to note that some of the factors contributing to this growthde-acceleration have begun to turn around. Inflation is softening interest rates areexpected to fall and price of Oil and Gold have corrected. This has given room to both theGovernment and a judicious Central Bank to pursue a more lenient economic policy. Theprocess of financial easing has begun with the new & stable government with majorityin India. The difficult economic environment and fear of country rating downgrade alsonudged the Government to bring in a slew of economic reforms and focus on balancing itsbooks. These reforms in my opinion are steps in the right direction and should hold theeconomy in good stead in the long term.

For a developing economy like ours sustained growth is an imperative and one of thekey requirements for the same is reigniting the investment cycle. Creating a conduciveenvironment for investments is the responsibility of the Government and the NewGovernment to its credit has earnestly attempted to address some of the issues facingthe Indian economy by embarking on the process of fiscal consolidation and ushering inreforms. Another key element of reigniting the investment cycle is infusion of riskcapital. The Private Equity industry has been playing a stellar role in channelizing riskcapital into the country and has emerged as one of the largest sources of fresh riskcapital for the economy.

Investors have not ignored India completely as evidenced by the record inflows inlisted equities space in recent times. The economic outlook is also expected to improve inthe near term. This hopefully coupled with continued liquidity in the global markets mayresult in the Private Equity space witnessing more activity on the fund raising anddeployment front. My pleasure to inform you that entire equity share of your company hadbeen listed on BSE Ltd at the end of the last quarter of the Financial Year 2013-14providing ready marketability of securities on a continuous basis adding prestige andimportance to the company. This will increase your company’s credential and we canborrow from financial institutions easily as it is rated favorably by lenders of capital;the company can also raise additional funds from the public through the new issue marketwith a greater degree of assurance. The new funds sought to be raised break new ground forthe Company and are steps towards our ambition to build a more global fund house.Developing a diversity of product profile targeting disparate risk Appetites andgeographies has been our focus during 2014-15.

Ramesh Chandra Daga

Chairman & Managing Director

20th day of May 2014

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