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Somi Conveyor Beltings Ltd.

BSE: 533001 Sector: Others
NSE: SOMICONVEY ISIN Code: INE323J01019
BSE 00:00 | 21 Oct 47.40 -0.80
(-1.66%)
OPEN

48.05

HIGH

49.10

LOW

46.50

NSE 00:00 | 21 Oct 47.90 -0.90
(-1.84%)
OPEN

50.00

HIGH

50.00

LOW

47.65

OPEN 48.05
PREVIOUS CLOSE 48.20
VOLUME 1236
52-Week high 68.50
52-Week low 19.05
P/E 31.81
Mkt Cap.(Rs cr) 56
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 48.05
CLOSE 48.20
VOLUME 1236
52-Week high 68.50
52-Week low 19.05
P/E 31.81
Mkt Cap.(Rs cr) 56
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Somi Conveyor Beltings Ltd. (SOMICONVEY) - Chairman Speech

Company chairman speech

Dear Stakeholder

Namaskar!

It gives me immense pleasure to write to you at the end of another year in our Nineteenyear long journey.

Your Company strives to perform at its best and able to achieve turnover of Rs.5990.14Lakhs which is marginally lower as compared to previous year whereas the Net Profit ofthe company has shown a increase of Rs. 154.62 Lakhs.

According to the recent research the Asia Pacific region is projected to be thelargest market for conveyor system by 2025. The growth can be attributed to the improvingeconomic conditions in emerging economies such as China India and Thailand. The rapidlygrowing population in countries such as China and India has boosted the demand forindustries such as food & beverage automotive mining etc. thus fueling the demandfor conveyor systems in these industries. In addition developing countries of Asia havemultiple new developments projects and expansions of existing facilities which areprojected to boost the demand for conveyor systems.

The conveyor market system which is currently $7.4Bn is projected to grow upto $9.9Bnby 2025 there by resulting in more business which will lead to higher productivity andultimately increased profits for the company. We look forward to have an improvedperformance from the later part of FY 2019-20.

Being a nineteen year old Company and one of leading company coupled with the bestindustry knowledge strong business understanding and expertise will help the Company towork towards building on capabilities during the crucial time of adversities.

On behalf of the entire Board and the Management of Somi Conveyor Beltings Limited Iwould take this opportunity to extend our gratitude to the Government various regulatoryauthorities and our bankers associates and suppliers and all our stakeholders for theirsupport faith and continued association. I would like to extend my gratitude to theCompany's employees and the board for their consistent commitment engagement support andencouragement in our journey.

Many thanks and kind regards

O P BHANSALI
Chairman and Managing Director

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