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Texmaco Infrastructure & Holdings Ltd.

BSE: 505400 Sector: Infrastructure
NSE: TEXINFRA ISIN Code: INE435C01024
BSE 00:00 | 01 Jul 59.20 0.95
(1.63%)
OPEN

58.75

HIGH

59.25

LOW

58.60

NSE 00:00 | 01 Jul 59.15 0.10
(0.17%)
OPEN

59.00

HIGH

59.80

LOW

58.35

OPEN 58.75
PREVIOUS CLOSE 58.25
VOLUME 100
52-Week high 82.25
52-Week low 50.00
P/E 455.38
Mkt Cap.(Rs cr) 754
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 58.75
CLOSE 58.25
VOLUME 100
52-Week high 82.25
52-Week low 50.00
P/E 455.38
Mkt Cap.(Rs cr) 754
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Texmaco Infrastructure & Holdings Ltd. (TEXINFRA) - Chairman Speech

Company chairman speech

TEXMACO LIMITED ANNUAL REPORT 2008-2009 CHAIRMAN'S REPORT The financial year 2008-09 has seen an unprecedented slow down of the world economy. In the ensuing depressing scenario, the two largest countries of the world - India and China - are expected to assist global recovery by achieving growth rates in excess of 6-7%. India's fundamentals are strong. Fortunately, India has voted for stability in the recent elections through a decisive mandate in favour of the UPA The national economy is expected to grow at over 7%, going up to 9% by the terminal year (2011-12) of the current 11th Five Year Plan. The Plan provides for an outlay in the region of USD 80 billion for the 'Dedicated Freight Corridor' project for movement of high speed trains with advanced technology. Government, which would lead to accelerated economic reforms. A series of measures already taken by the Government have been serving to boost the incomes in rural India, which is providing a sustained stimulus to the domestic demand and spurring all-round growth. The Government, by all accounts, is fully committed to massive investment in infrastructure, including power, road and rail transport etc. This is an ideal setting for Texmaco, an infrastructure company, which is suitably positioned to address the emerging reality with its leadership in the Rail sector over several decades. Texmaco is the largest wagon manufacturing facility with a comparative advantage of outstanding Texmaco, being in the Rail and Hydroelectric Power sectors, inter-alia, is poised for continued growth primarily on the strength of the rolling Indian economy. infrastructure in the industry, supported by an integrated State-of-the-Art Steel Foundry. The Company is set to embark on major product diversification into EMUs & Metro Coaches, Locomotives through Joint Ventures with global leaders. The prospects of the Company's Hydro-mechanical business too appear attractive. There is a growing preference for renewable energy sources; and a high national priority* to maximise the potential out of WM available natural resources while reducing the import of hydrocarbons. As a result, the development of India's Hydro-mechanical business is not only seen as a vote in favour of a greener world but also a means to strengthen India's energy security. India is today recognised as a most competitive manufacturing destination in the world with its large reservoir of trained engineers and skilled manpower. This augurs well for the future growth and diversification of engineering industries like Texmaco. In this backdrop, the Company is aiming to capitalise on its inherent strength built over seven decades, and take a strategic route to leap into the big league to exploit the new challenging opportunities. In order to prepare itself for the future, the Company has decided to raise equity resources, and a Resolution is being placed before the shareholders in the forthcoming Annual General Meeting of the Company. These funds will be used for speedy expansion and diversification of the activities of the Company. Finally, I take comfort from the fact that Dr. K.K. Birla, Founder Chairman, was active till the end and lived his life with integrity, values and principles. These WM values will guide ouri future destiny in Texmaco. S.K. Poddar, Chairman
.