I have great pleasure in welcoming you to the 38th Annual General Meeting. The role outof the much awaited goods and services tax the radical steps to demonetize high valuecurrency the large scale mobilization of Jan-Dhan Yojana the direct benefit transferschemes are undoubtedly examples of inspired action towards progress the spirit ofcompetitiveness federalism and also spurned the state government's ease of doingbusiness. This in turn showed positive impact in the investment climate. Today in theannual address I would like to highlight your companys integrated approach towardspersonalization of professionalism of management of the company.
During the Financial Year 2016-17 your Company completed 38 years of its tryst withthe Nation a vintage enjoyed by a mere handful of names in our corporate annals.
The current year 2017-18 was also a testing year with an economy that failed toenergize the pipe industry and confronted the steel market with subdued sales. But amidthese challenges there were positive developments in Steel Pipe Industry by way ofgreater cost efficiency strengthened product development and energetic customerexcellence initiatives.
Made up of eminent personalities of professional prowess and indubitable integrity theBoard guides the company in retaining its reputation of being professionally managed withits core values firmly rooted in demonstrating sound ethics and good corporate citizenshipto deliver maximum value to its stakeholders.
The Union Budget proposals announced this February have brightened prospects for thenational economy with plans that are expected to advance macroeconomic growth boostinvestor confidence and provide impetus to the rural economy. The Steel Pipe Industry andwe are particularly enthused by measures devised to accelerate investment ininfrastructure development and Agricultural Sector.
In this unfolding scenario I am confident that your Companys continued focus oncost competitiveness and the thrust on enhancing customer excellence will help it presentan improved performance.
TNT has a strong and dedicated team of Employees responsive to every problem to meetany challenge with purposeful grit and determination.
In the decades of the companys operations its products and services have beenused in raising mega structures and iconic landmarks that symbolize South India inprogress.
TNT has played a meaningful role in the Steel Industry providing quality Steel Pipesmaterials and services and sharing its expertise as the government moves ahead with plansfor greater investments in infrastructure development Smart Cities and urbantransformation the company has also revved up its capability to provide quality SteelTubes/Pipes and services to match the engineering excellence that go into implementingambitious projects necessary in these segments.
TNT has been an unrivalled pioneer in Steel Pipe Industry in South India. Itsfacilities for the production of Steel Pipes which have state-of-the-art technologyincluding a considerable degree of automated process control systems demonstrate highperformance levels and assure consistent quality to match world class standards.
TNTs Steel Plant is capable of meeting specific needs of Dealers/Customers -beginning with the basic requirements of every individual and challenging demand of megaprojects for High Performance and other specialized applications.
TNTs unique track record of innovative research and development has led to itsrecognition as a pioneer and trendsetter with several breakthroughs in Steel Tubes/Pipesover the years and more recently to include many new products that have widened itsportfolio of value added varieties for special and customized applications.
The customer is the pivot in the process of innovation quality and product development- with systems in place to harvest new customer insights and expectations to improve onservice levels. With the customer strategically ensconced in the drivers seat of theplanning process a purposeful direction and metrics emerge in the context ofdecision-making in all aspects of creating and securing value for the customer.
It has been your companys resolve to build a strong industrial approach for thecompanys growth with a responsibility to ensure that the growth is increasinglycreates meaningful trust livelihood and secure ecological environment. I have tremendousfaith in TNTs best class team of dedicated professionals and I know that they willhave no stones unturned in the quest to take their company to greater heights to serveyou our shareholders and our society.
As always may I once again on behalf of the company take this opportunity to thank youfor your support and encouragement.
Thank You dear shareholders lets put Tamilnadu Steel Tubes Limited on the top.
With Best Wishes