It gives
me immense
pleasure
to talk
to you through
this letter.
The confidence
reposed
by its patrons
in any Company
is the driver
of its prosperity.
It is that
invaluable
asset which
propels
it to new
heights
and enables
it to march
steadfastly
on the road
to growth.
Needless
to say that
in the absence
of this
confidence
any Company
irrespective
of the scale
of its operations
has to invariably
battle hard
even for
its survival,
let alone
its growth
or prosperity.
I am feeling
extremely
delighted
while asserting
that we
have always
been mighty
fortunate
in terms
of winning
and retaining
the entire
confidence
of all our
dear patrons.
As a matter
of fact
it is this
trust of
yours that
has all
along been
a constant
source of
strength
for us.
I can’t
really find
the words
to express
my deepest
sense of
gratitude
for your
unswerving
faith in
us which
I would
term as
‘a singular
biggest
achievement
for us.
Now let
me use statistics
to shed
some light
on your
Company’s
ascent towards
summit of
glory.
2006-07
which I
would term
as a year
of exciting
prospects
for us saw
gross turnover
of the company
shooting
up to Rs.
5239.33
million
registering
an increase
of Rs. 134.70
million
over previous
financial
year. Our
claim that
we are scaling
newer heights
overtaking
our rivals
is backed
up by the
fact that
both pre-tax
as well
as post-tax
profits
netted by
us have
climbed
significantly
during the
current
fiscal lending
new dimensions
to our profile.
While pre-tax
profits
surged by
Rs. 181.46
million
to stand
at an all
time high
of Rs. 472.64
million,
post –tax
profits
also swelled
to Rs. 411.07
million
registering
a rise of
a whooping
46%. Earnings
per share
which are
an index
of a company’s
performance
stood at
Rs. 42.92.
I am absolutely
sure that
if these
trends are
anything
to go by
we would
continue
to perform
creditably
in the years
to come.
Let us cast
a look at
the snapshot
of the financial
performance
put up by
the company
this year
while comparing
it with
that put
up by the
company
in 2002
Yet
another
significant
disclosure
that I would
like to
make and
I am sure
which would
cheer you
up is that
this year
your company
went in
for the
issuance
of Foreign
Currency
Convertible
Bond (FCCB).
I am happy
to share
the information
with you
that the
issue was
subscribed
within an
hour of
its subscription
opened.
It is indeed
quite encouraging
from the
point of
view of
company’s
long-term
prospects.
The FCCB
issued by
the company
had a maturity
period of
5 years
and 1 day.
The company
would utilize
the money
raised through
the issuance
of FCCB
to fund
its expansion
programme
which has
already
received
a major
boost this
year.
Proving
ourselves
literally
true to
the proverb
‘when
the going
gets tough,
the tough
get going’,
we remained
unflappable
in the
face of
a number
of challenges
during
the entire
course
of our
corporate
journey
which
has culminated
in a roaring
success
for us
which
has left
the economic
experts
agape
with amazement.
Let there
be no
scepticism
whatsoever
in any
quarter
about
our claim
that further
growth
is our
single-point
agenda
that we
are pursuing
so strenuously
and we
reiterate
that we
will not
relax
until
we have
earned
our spurs
as a corporate
giant.
As a matter
of fact
we are
already
on the
threshold
of that
monumental
achievement
with the
prospects
of the
Company’s
future
looking
up. Our
assertion
is underpinned
by the
fact that
we have
delivered
consistent
and solid
performance
rights
from the
word go.
If you
ask me
to list
three
immediate
priorities
of the
Company,
my simple
but emphatic
answer
would
be growth,
growth
and growth.
But I
would
hasten
to add
that as
always
our process
of growth
would
be inclusive.
The fruits
of our
extremely
rapid
development
will definitely
be shared
among
all those
whose
patronage
is our
most invaluable
asset.
