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Winsome Breweries Ltd.

BSE: 526471 Sector: Consumer
NSE: N.A. ISIN Code: INE391C01011
BSE 00:00 | 22 Apr 3.78 -0.19
(-4.79%)
OPEN

3.97

HIGH

3.97

LOW

3.78

NSE 05:30 | 01 Jan Winsome Breweries Ltd
OPEN 3.97
PREVIOUS CLOSE 3.97
VOLUME 515
52-Week high 11.65
52-Week low 3.67
P/E
Mkt Cap.(Rs cr) 10
Buy Price 3.78
Buy Qty 50.00
Sell Price 3.78
Sell Qty 180.00
OPEN 3.97
CLOSE 3.97
VOLUME 515
52-Week high 11.65
52-Week low 3.67
P/E
Mkt Cap.(Rs cr) 10
Buy Price 3.78
Buy Qty 50.00
Sell Price 3.78
Sell Qty 180.00

Winsome Breweries Ltd. (WINSOMEBREW) - Chairman Speech

Company chairman speech

WINSOME BREWERIES LIMITED CHAIRMAN'S LETTER Dear Shareholders, The year 1998 marked another year of trade depression, exhibiting the growth rate of Indian economy nose-diving from 7.8% in 1996-97 to 5.8%. Being arrested with global economic recession, investment sentiments have reached at a low ebb. Due to various inhibitive domestic fiscal policies and uncertain political climate, we fall in line, to the grip of market depression and economic slowdown of the country, which have been reflected more or less in each segments of industry. However the second quarter of 1999 is evidencing a market resilience, with an all-time low inflation rate of 1.30%, that keeps us buoyant with optimistic vision for sound recovery of industry, from the quagmire of recession The restricted license & permit-raj, though have been a matter of past, one of the most daunting problem faced by breweries industry, is a discriminatory tax regime in the country. The government levies vary from state to state. In addition to the basic excise duty, there are a large number of other taxes and fees. As a result, the Govt. levies account for about 50% to 70% of the final cost to the consumer. The Beer produced in one state and sold in another state attracts an export fee and an import fee in addition to the basic excise duty. Such tariff structure compels the brewer companies to spread their units in various states which goes against the interest of small breweries units. For this reason, we are not able to expand our market base, in the states of Andhra Pradesh, Tamilnadu, Karnataka & Maharashtra, which are potential markets for alcoholic beverages. So I would make a strong plea, that ramifications of this serious issue be examined by various arms of the government for moderation and harmonisation of tariff structure. The past formative years were a period of considerable re-organisation and re-engineering of our efforts and strategies to consolidate-our position in the highly competitive Beer market. Hence competitiveness continues to be a compelling agenda in coming days. The challenge of attaining international quality parameter is at once humble, exciting & inspiring. Our strength & prowess lies with the international quality of our products which is the result of our advanced state-of-art technology collaborated with world's renowned Henninger Brau of Germany. It has made our products distinct and exclusive. When viewed with national context, ours is a tiny enterprise, where major breweries control 73% of the total market share. Despite of all odds, in these turbulent years we are determined with unequivocal aim of forging ahead in the country, gradually clicking a sizable portion of market share with our unparalleled quality. So far the shareholders interest is concerned, I am to say that the Management is acutely aware of the need improve the present profitability on an on going basis, that will make high returns on their hard-earned money future days. In line with such reasoning, my vision for posterity, is for a low leveraged, high growth oriented, and consistent profitable Company. Sincerely yours. R.K. BAGRODIA CHAIRMAN