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TCI Industries Ltd.

BSE: 532262 Sector: Others
NSE: N.A. ISIN Code: INE920B01019
BSE 00:00 | 20 Feb 661.00 0
(0.00%)
OPEN

661.00

HIGH

661.00

LOW

661.00

NSE 05:30 | 01 Jan TCI Industries Ltd
OPEN 661.00
PREVIOUS CLOSE 661.00
VOLUME 5
52-Week high 939.00
52-Week low 592.00
P/E
Mkt Cap.(Rs cr) 59
Buy Price 661.00
Buy Qty 19.00
Sell Price 690.00
Sell Qty 1.00
OPEN 661.00
CLOSE 661.00
VOLUME 5
52-Week high 939.00
52-Week low 592.00
P/E
Mkt Cap.(Rs cr) 59
Buy Price 661.00
Buy Qty 19.00
Sell Price 690.00
Sell Qty 1.00

TCI Industries Ltd. (TCIINDS) - Chairman Speech

Company chairman speech

1994 TRANSPORT CORPORATION OF INDIA LIMITED CHAIRMANS SPEECH TO THE SHAREHOLDERS Ladies & Gentlemen, It gives me great pleasure to welcome you all to the 29th Annual General Meeting of the company. SUCESSFUL PUBLIC-CUM_RIGHTS ISSUE At the outset, the Directors and myself take this opportunity to thank all shareholders and investors for the overwhelming response to your company's Public-cum-Rights Issue. The Public Issue was oversubscribed by over 25 times. This was despite a cap of 10,000 PCDs per application. The Rights Issue was also tully subscribed. The issue was floated to linance the purchase ot conventional trucks, relrigerated trucks, cars tor Wheels Rent-A- Car division, land, buildings, computers and other assets to strengthen the infrastructure of the company. A Significant Year of Performance The year 1993-94 has been another promising 350 year for your company. The gross revenue of the company for the year ended 31st March, 1994 records a phenomenal 37% growth and stands 300 at Rs. 266 Crores as against Rs. 194 Crores in the previous year. Net profit after tax also increased by 19%, from Rs. 3.41 Crores to 50 Rs. 4.07 Crores. Your Directors are pleased to recommend a dividend of 21% maintained at 200 earlier level even after enhanced capital on account of Bonus Issue last year. The Changing Global Scene The Indian Economy is undergoing rapid changes. The transport industry is witnessing a major boom largely due to the liberahsation of the economy and unprecedented growth in exports and coming in of MNCs. As long as the exports grow and Industrial development prospers, the transport sector considered as the backbone ot the industry will be required to service the need tor quick and reliable communication and distribution. This is in consonance with the changes in the global scenario. On account ot such far-reaching changes, companies are today restructuring their plans with a greater vision, vigour and vitality. Indeed the Indian Industry is now more competitive and market oriented than ever before with the revolution taking place in the economy. The transport industry in India will certainly see tremendous growth. However, there are major issues to be addressed to by the government for the transpon industry, primarily the enhancement of funds for building and maintenance of roads which is only 35% ot the revenue earned from transport related taxes & levies as compared to 95% in the U.S.A. Classification ot the road transport sector as industry has still not been done despite the tact that this is an over Rs. 10,000 Crores estimated industry. Also the highway patrols need to be strengthened as losses due to theft and pilterage lead to huge tinancial losses to the industry as a whole and cause customer dissatisfaction . PROVIDING THE RIGHT RESPONSE In this fast changing context, your company has sought to redetine its targets and game plans. Such efforts would consolidate the business and expand its operations to more areas ot the competitive market and with the inbuilt management philosophy ot ethical business practices and constant adaptation to change. Your company is endeavouring to exploit new opportunities for growth and success in chosen fields. This calls for offering multiple service options, aggressive Customer Service and a competitive edge. DIFERSIFYING FOR GROWTH Your company has stood the test of time tor 36 years and has established itselt as a multi-taceted and multi- locational organisation. DIVISIONAL PERFORMANCE TRANSPORT DIVISION: has recorded a 19% increase in turnover despite two nationwide transport strikes. As a leading name, your company has embarked on a plan to modernise its fleet ot 400 trucks. It is also venturing into the refrigerated cargo transport sector. SHIPPING DIVISION: has recorded an impressive 23% increase in turnover over the previous year. With the acquisition of its tourth vessel, its earnings are poised to grow turther in the coming years. GATI: Your company's small cargo specialist division has strongly established itselt as the leader in the market. The organised express industry in India estimated at approximately Rs. 350 Crores per annum with a projected annualised growth rate ot 35% is also witnessing the winds ot liberalisation and a future full of promise. It is anticipated that the industry will touch a turnover of Rs. 1,000 Crores before the turn of the century and Gati is on the tast track to meet the challenge of this industry. Today the Gati network spans over 450 locations all over India. Wheels Rent-A-Car / Transcorp Bureau D' Exchange: With liberalisation of our Economy and coming ot MNCs we also see a boost in tourism industry which has a direct tollow-on our Rent-a-Car division which is growinq steadily and the company's money changer division, Transcorp Bureau D' EIchange which has rapidly expanded its business operations. It is currently operational in six cities - Delhi, Calcutta, Bangalore, Hyderabad, Jaipur and Bombay. FOREIGN EXCHANGE EARNINGS Your company has put up a remarkable performance in its toreign exchange earnings for the year 1993-94 which amounts to Rs. 4.47 Crores. EXPANSION/MODERNISATION With an eye on the future, your company has drawn up comprehensive plans to propel the organisation to greater heights through induction of new technologies, resource acquisition, improvement of infrastructural facilities, modernisation plans ensuring customer satisfaction and above all enhancing skills of our people by extensive training inputs and creating a work atmosphere highly conducive to growth. All efforts are being made to implement these changes within the fixed time schedules so that funds raised are efficiently and expeditiously utilised. THE FUTURE TCI continues to capitalise new opportunities and ride into a glorious future with confidence. Before I close I would like to extend my thanks to shareholders and investors for their constant support. I would also like to thank our Customers, Financial Institutions, Banks and employees for their continuing co-operation. S N AGARWAL Chairman Secundarabad...