PACIFIC INDUSTRIES LIMITED
ANNUAL REPORT 2010-2011
CHAIRMAN'S REPORT
Dear Shareholders,
My warm greetings to all of you.
Global economy witnessed its own challenges in the year 2011 due to various
macroeconomic environment factors. The economy in fact has shown signs of
recovery from the unprecedented financial crisis and the recovery is likely
to mature over the coming years.
The performance of your company is reflective of the sustained investment
and development efforts we have put in over a period of time. We are proud
to be regarded as one of the biggest quarry owners and processors of
Granite of various types in India. Your Company's brand name 'Pacific' is
highly respected in the markets and it has build sound reputation in
supplying high quality material around the world. We have worked hard to
ensure that our brand stands for quality and value and represents
collective teamwork of our employees.
Our growth strategy has been consistent through this period. Absolute sense
of providing satisfaction to our customers is our soul motto. We
consciously execute our commitments towards our customers keeping in mind
their sensitivity and response towards our products and dealings. In all
our business commitments, we invariably stick to our Shipment Schedules.
This strict and punctual delivery system has earned us appreciation and
admiration off and on. We have more often been applauded and rewarded for
this by our esteemed customers.
In this challenging environment, your Company achieved an overall growth
during the year 2010-11 in which turnover of your Company was 6077.34 lakh
as compared to 6726.49 lakh for the last year 2009-10. The PAT was
Rs.353.55 lakh as compared to Rs. 798.21 lakh for the last year 2009-10
which was mainly due to increase in Material & Power cost.
Your Company is committed to maintain the brand image it has gained over a
period of time and it has posed a great responsibility on the Board. Over
the years your Company has developed a strong and persistent work culture
to operate successfully in diverse business environment by adapting
ourselves to new technologies and complexities in different spheres of our
work.
In conclusion, I wish to reiterate that we are committed to remain
competitive, profitable and to achieve sustainable growth. We also believe
that the significant longer term opportunity in India will result in a
substantial step-up in competitive intensity. Your Company's continued
efforts in reducing its cost base has helped to keep moving forward with
agility and dynamism. It is obviously one of the most significant factors
which motivate your Company to establish a long lasting link and bond with
our customers.
I take this opportunity to thank you for your continued support and look
forward to the same in the future.
Sd/-
(J.P. Agarwal)
Chairman & Managing Director
Place: Udaipur
Dated: 27.08.2011.