I have an immense pleasure in welcoming you at 22nd Annual General Meeting of your ICompany and presenting the Annual Report for the year ended 31st March 2016. The reportcontains the all going and happenings during the year and setting out the business andallied operations pertaining to the Company.
Your Company is incessantly introduced new products to boost its product to gaincompetitive edge and strength in the market. Earlier in the series of creation most Jayimpressive product CPVC Pipes and Fittings that have been started on marketing by theCompany. There is lesser number of CPVC Pipes and fittings manufactures in the countrybecause of the technology being too high and costly. Similarly there are very few CPVCmaterial suppliers across the world that provides material only after final agreement withthem. The current low financial position of the Company remains on a low scale during thisfinancial year also. The Company now expecting for a scope for smooth running andfunctioning of operations of Company in the interest of all stakeholders associated withthe Company.
At the outset I would like to submit that due to economic slowdown and ininternational measures taken by the government the year 2015-16 being challenging for theentire corporate sector for growth of the business and in terms of profitability.
Our Hon'ble Prime Minister has announced an ambitious plan to make 100 cities in Indiainto smart cities. Each of these cities will be endowed with smart infrastructure. Theoutlay for a proposal of this nature is expected to be very large. And finally ininfrastructure - roads ports airports and railway corridors - there are over a thousandprojects in the pipeline with an estimated total value of over Rs. 14 lakh crores. By thisinitiative your Company may benefit a lot and contribute in a greater manner for thedevelopment of the Country. Also in terms of water and sanitation and a major globalreform of government "Swachh Bharat Mission" your Company shall be benefited toa good extent.
Your Company build infrastructure. We are equally committed to building socialinfrastructure. By treating agriculture as a system we're finding new ways to work withfarmers to produce more while conserving more of our natural resources. We believe thereis no difference between smart agriculture and smart business. Achieving both is the onlyway to ensure our Company and our planet is in step with the future. As you invest in ourbusiness you are also investing in the future of agriculture. It's a future that will bemore innovative more integrated and more collaborative than any the world has seenbefore. It's a future to which we are unwaveringly committed.
I would like to take this occasion to appreciate all my Board members AssociatesSuppliers Customers Bankers Shareholders various Government - Semi Governmentorganizations and all stakeholders for their support solidarity and having faith andtrust in the Company.
Finally as always my heartfelt thanks to our employees Shareholders DealersVendors and Customers who made us what we are today. Thanking You.
With Best Wishes
Sanjay Kumar Taparia
(Chairman & Managing Director)