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Texplast Industries Ltd.

BSE: 530635 Sector: Industrials
NSE: N.A. ISIN Code: INE544D01013
BSE 00:00 | 27 Jan Texplast Industries Ltd
NSE 05:30 | 01 Jan Texplast Industries Ltd
OPEN 17.05
PREVIOUS CLOSE 17.05
VOLUME 1000
52-Week high 17.05
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 9
Buy Price 0.00
Buy Qty 0.00
Sell Price 17.05
Sell Qty 530.00
OPEN 17.05
CLOSE 17.05
VOLUME 1000
52-Week high 17.05
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 9
Buy Price 0.00
Buy Qty 0.00
Sell Price 17.05
Sell Qty 530.00

Texplast Industries Ltd. (TEXPLASTINDS) - Chairman Speech

Company chairman speech

Dear Friends,

The Year 2011-12 was fairly eventful as far as our business performance was concerned.The unstinted support of our stakeholders enabled us to achieve our targets. Being at thefulcrum of a growth curve in India infrastructure industry and having achieved the largestroad assets portfolio, we move ahead with renewed vigour, with a vision to build a safe,solid and sustainable India.

The overall macro - economic challenges combined with the sluggish growth of India'seconomy remain a matter of concern. However, our determination to maintain momentum helpedus emerge stronger and we move forward with a vision to achieve goals.

Almost four years after the greatest financial and economic upheaval since the GreatDepression, the global economy is regaining a measure of stability and confidence. But therisks to growth remain. The situation looks unsteady once again, with the problems in theEuro Zone. The IMF projects that the global economic growth will decline from 4% in 2011to 3.5% in 2012, before picking up to 4% in 2013. The Euro zone shows sign of slippinginto a recession again, though that is expected to be offset by around 2% growth in the USand 6% in the emerging and developing economies. The economies of Africa, particularlysub-Saharan Africa, are demonstrating structural improvement. Japan is on the road tonormalcy after the twin disasters of the Tsunami and the Fukushima nuclear reactoraccident. The global supply chains, disrupted by the disasters in Japan and the floods inThailand, have been restored. The financial condition of the large global corporations isextremely strong, and their cash holdings at an all-time high. The worst-case scenariosfor the global economy have not come to pass. That, in no small measure, is due to theunprecedented stimulus provided by governments and central banks. Europe has also reacheda degree of consensus on fiscal reforms. The European Central bank (ECB) has also put inplace firewalls to ward off a widespread economic contagion. Clearly, the road ahead isnot yet smooth. The bond, inter-bank and sovereign debt markets in Europe remain jittery.The process of financial deleveraging still has a long way to go. Oil prices remainstubbornly high. Unemployment is proving extremely sticky and concerns about inequalityare growing. A major worry is the political gridlock in many major countries, which makesit difficult to strike the right trade-offs between growth and fiscal and monetaryrestraint.

The Indian economy was quickoff the mark in recovering after the 2008 shocks. But thegrowth momentum has slowed considerably over the past year. GDP growth in the thirdquarter of FY 2011-12 was 6.1%, down from 8.3% in the corresponding quarter of FY 2010-11.Some of the key indicators are bearish. Gross fixed capital formation has contracted inrecent months. Growth in industrial production in the April 2011 - February 2012 periodslid to 3.5%, compared to 8.1% during the same period last year. Inflation, particularlyin food items, remains high. There have been major slippages on the fiscal side. Thecurrent account deficit, in the April-December 2011 period widened to 4.0% of GDP, a clearwarning sign. On a trade-weighted basis the Rupee depreciated around 8% in the past year.Given the slippage in growth, RBI's decision to ease monetary policy was timely. Even somonetary policy will not be effective unless it is supported by fiscal restraint. India'seconomy is poised delicately. The extended pause in reforms, together with some recentretrograde policy moves, has clouded business sentiment.

Since the past four decades, Texplast has pursued business excellence through sheerpassion, perseverance and precision and is occupying a strong position in manufacturingjumbo bags, panel bags, circular bags, container bags, conductive / antistatic bags, wovensacks, PP multifilament yarn, liner and tarpaulin are the new added items and results ofits working will be seen partly in the year 2012-2013 and fully in the year 20132014. TheCompany has already undergone expansion programme by enhancing its production capacity, asdetailed out in notes to accounts, annexed with this Report.

Comparing to the economies of the World, Indian Economy is well underway. All-roundgrowth is already projected by majority of the Business houses in India in the next twoyears. Textile Industries continue to contribute 14% of industrial production and 4% ofGDP and almost 17% of the country's export earnings. In the current financial scenario,exporting companies will tend to gain benefit in the financial year 2012-13.

As a part of its strategy to grow core business, the Company has already expanded itsproduction capacity as detailed out in notes to accounts annexed with this Report. Companyis already under process of execution of new expansion programme to furtherenhanceproduction capacity.

Your Company remains focused on creating value for its valued customers using the basicprinciples of TQM Methodology, which we are customizing throughout our organization. Wehave undertaken various initiatives to further sharpen cost-competitiveness, effectiveworking capital management, chalking out various expansion programme to further strengthenproduction capacity.

Your Company has a strong portfolio of products towards satisfaction of customers. Weare well placed to maximise on the opportunity in a growing market like India. We willcontinue to strengthen this advantage with excellence in execution, a sharp focus on theneeds of our consumers and continuous improvement in our distribution reach.

At a time when input costs remain high and price volatility brings added challenges, wewill continue to focus on the best value for our consumers and customers throughinnovations and strong cost efficiency programmes. We see these as key drivers of valuecreation for our business.

Your Company is committed to improving the quality of life of all stakeholders throughcontinuous and purposeful engagement in economic progress, social responsibility andenvironmental concerns. Your Company takes it as an opportunity to make a difference andremain committed to the issues of social upliftment, sustainability, resourceconservation, energy efficiency and environment protection.

In pursuit for growth, your Company believes in ensuring highest concern for health andsafety of the employees, contractors and the eco-system around the plant locations.Besides, Texplast has been focused on building organizational capacity by investing inhuman resource which is the stepping stone to success.

I a so convey my appreciation for the untiring enthusiasm and commitment of all membersof Texplast without. winch it would have been impossible to successfully ride throughdifferent challenges and I am sure that they will keep on challenging the high standardsof operational excellence that they have set for themselves.

We will continue to follow our dreams to become one of the most respected companiesthrough continuous improvement in our efficiency, by innovative practices and furtherexpanding our businesses to emerging markets. I look forward to your continued support andI am sure that together we shall realize our dreams.

As we recharge for growth, we will be on the lookout for opportunities which will sweatthe assets and give maximum value to shareholders.

Notice of Annual General Meeting

NOTICE is hereby given that the 41st Annual General Meeting of the membersof TEXPLAST INDUSTRIES LIMITED will be held at the Registered Office of the Company, viz.at Gut No. 39/40, Village Nehroli, Taluka Wada, Dist. Thane - 421 312, Maharashtra, at11.30 A.M. on Thursday, the 27th September, 2012, to transact the following business:

ORDINARY BUSINESS

1 To receive, consider and adopt the audited Balance Sheet as at 31st March, 2012 andthe Statement of Profit and Loss for the year ended on that date together with theDirectors' Report and Auditors' Report thereon.

2 To appoint.a Director in place of Mr. Bharat Nautamlal Doshi, who retires by rotationand being eligible offers himself for reappointment.

3 To appoint Auditors and fix their remuneration.

Place Mumbai For and on behalf of the Board
Date 31st August, 2012
Regd. Office Gut No.39/40
Village Nehroli Sukumar N Shah
Tal - Wada, Dist - Thane Chairman & Managing Director