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Tirupati Inks Ltd.

BSE: 533258 Sector: Industrials
NSE: N.A. ISIN Code: INE493K01018
BSE 00:00 | 04 Mar Tirupati Inks Ltd
NSE 05:30 | 01 Jan Tirupati Inks Ltd
OPEN 6.85
PREVIOUS CLOSE 6.64
VOLUME 25735
52-Week high 7.45
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 17
Buy Price 6.58
Buy Qty 3.00
Sell Price 6.97
Sell Qty 500.00
OPEN 6.85
CLOSE 6.64
VOLUME 25735
52-Week high 7.45
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 17
Buy Price 6.58
Buy Qty 3.00
Sell Price 6.97
Sell Qty 500.00

Tirupati Inks Ltd. (TIRUPATIINKS) - Chairman Speech

Company chairman speech

TIRUPATI INKS LIMITED ANNUAL REPORT 2011-2012 CHAIRMAN'S REPORT Dear Fellow Shareowners, It is a delight to address you on completion of another eventful and successful year. FY 2011-12 has been a challenging year with unprecedented economic uncertainty in Europe, geopolitical upheaval in the Middle East and a slowing down of economic growth across Asia. These events had a profound effect on demand and margin outlook for industrial products across the world. In many ways, we are still feeling the after-shocks of the financial meltdown of 2008 and 2009 with leading economies continuing to suffer from low growth and the resultant adverse impact on demand for most products and services. We have been successful in insulating and de-risking our portfolio of business by following a prudent operating discipline and further strengthening our rock solid foundation for investments in future growth engines. Over the last few years, volatility and uncertainty have become the 'new normal' and the FY 2011-12 has proved to be no different. The concerns in Euro Zone and Middle East remain unresolved and the US economy is still not out of the woods. Despite the global volatile environment, sales of your Company grew by 59% and profits registered a growth of 9.49% mainly on the back of buoyant domestic demand. This performance is all the more commendable considering that inflation surged to near double digit levels and GDP came down to 6.9% in India during the year. This could be achieved because of the sustained direction and working as a team at all levels. Your Company has always focused on building strengths for the future and continued to invest in building capabilities. Major thrust areas were identified during FY 2011-12 to secure growth, ensure customer satisfaction and enhance supply chain capabilities for future, using the latest technologies. We will continue to invest our resources in taking these initiatives forward. Capacity building for the future is well on track. Your Greater Noida plant, which was commissioned during the month of January, 2012 with licensed capacity of 8400 MT per annum on single shift basis has now commenced its operations in full swing. While consumer demand is expected to grow stronger, business environment will be volatile and uncertain due to the global and domestic challenges. However, I am confident that your Company will prove its mettle in such a dynamic business environment as we have done in the past. With the continued support of efficient Technical team and experienced Marketing Professionals I am confident of winning over the African and Asian market and continue to spread and strengthen our roots in the Middle East and European market. In order to accelerate and thereafter maintain the momentum in growth, your Company has decided to set up a wholly owned subsidiary at DUBAI. Saudi is the biggest market for inks hence Dubai has to be a centre point for capturing the Middle East market and thereby providing complete technical servicing, thereat. We have always anticipated changes and adapted ourselves to the environment without compromising on our core values. Your Company has always believed and practiced high standards of professionalism, integrity and transparency and would continue to do so. It is these values which have shaped the character of your organization and helped in building wealth for all the stakeholders. Your Company believes in growth with a human face and continues to remain committed towards various initiatives in the areas of Health Care, Environment and Education under our Corporate Social Responsibility (CSR) program. As we continued on our journey to deliver growth and create long term value for the shareholders. The Total Revenue from Operations have grown from Rs. 98.25 crs in FY 2010-11 to Rs. 156.05 crs in FY 2011-12 while the profits have grown from Rs. 2.53 crs to Rs. 2.77 crs. This demonstrates that the family promoters and professionals working together can achieve good results for our esteemed shareholders. Given this background, I am pleased to say that our management team showed great degree of resilience and maturity to deal with this situation very effectively. All our actions were aimed at achieving our corporate goals without losing the confidence of our customers and suppliers. We are committed to sustain a culture of operational excellence, responsible resource utilization and creating a platform for sustainable growth to benefit all the stakeholders. With Warm Regards For Tirupati Inks Limited Sanjiv Agarwal Executive Chairman & Managing Director.