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Radico Khaitan Finance Ltd.

BSE: 511320 Sector: Financials
NSE: N.A. ISIN Code: INE146D01017
BSE 05:30 | 01 Jan Radico Khaitan Finance Ltd
NSE 05:30 | 01 Jan Radico Khaitan Finance Ltd

Radico Khaitan Finance Ltd. (RADICOKHFIN) - Chairman Speech

Company chairman speech

1994 RADICO KHAITAN FINANCE LTD CHAIRMAN'S SPEECH LADIES & GENTLEMEN I have great pleasure in extending a very warm and cordial welcome to you all to this annual general meeting of your company. director's report and the audited accounts of the company for the,year ended 31st March,1994 have been with you for some time and with your permission I shall take them as read. WORKING RESULTS Prom the annual accounts, you will observe that the results have been quite encouraging. In the leasing business the company h disbursed Rs. 278.32 lacs as compared to Rs. 32.24 lacs in the previous year. The net profit of the company at Rs. 244.42 lacs has shown a healthy increase from Rs. 18.34 lacs in the previous year. The EPS of th-e company has shot up to Rs. 3.50 from Rs. 1.21 in the previo year. Keeping in view the performance of the current year your directors have pleasure in recommending a dividend of 10% on equity sha and 13.5% on redeemable preference shares. The results of the current year 1994-95 will be quite encouraging. We expect to double the turnover of the company and consequently t will also go up substantially. ECONOMIC SCENARIO Since 1991, the government has been taking a series of measures to restructure the economy. The government has given a new thrust and direction to the economic policy of the country. The challenges and promises of a liberalised economy are. The main theme of t new economic policy is to open our economy to the globalised market-oriented environment by reducing costs and streamlining dut: and taxes, eliminating administrative delays and most important, making the Indian rupee fully convertible anks to these measur the country 's economy is much stronger today. The inflation has been largely controlled. The private sector v free from the needle controls, must be able to gear itself to meet the challenging needs of the future. Your company has already envisioned these winds of change and has initiated the necessary process to face the coming challenge and harness the opportunity. Your company 's course has been chartered with great care and prophetic vision. We are equipped not only to handle the contemporary business but also the business of the future. DIVERSIFICATION Besides the already existing business, your company has plans to diversify into exports. In fact the company has already tied up for export of Rs. 6.00 crores for the current year, and the 1st shipment is expected in Setptember /October'94. ACKNOWLEDG EMENT On behalf of the Board of Directors and on my own behalf, I whish to express my sincere thanks to the members and the Bankers for their continued support. APPRECIATION Finally let me take this opportunity to express my thanks and appreciation for the contribution made by employees at all levels. Chairman Place : New Delhi Dated : 28-09-94