Dear shareholder,
The Indian Economy witnessed gradual momentum in the year 2016-17 and it is expected to
accelerate in future years in view of the government's continuous efforts to push various
financial and agriculture reforms, including technological improvement across all sectors,
etc. RBI's focus on controlling inflation, increasing overall demand by reducing cost of
lending etc. is continuing. Further, the union budget proposals have brightened the
prospects for the national economy to grow, with plans that are expected to boost investor
confidence and provide impetus to the rural economy, which should improve overall demand.
One of the most variable and critical factor for our diversified businesses is reducing
the cost of manufacture and our company has taken various initiative for cost optimization
and increasing efficiency, amongst others measures which have contributed to improved
performance. In anticipation of the expected revival of our economy, the demand and prices
of various products manufactured by the Company are likely to improve further.
I extend my sincere thanks to all our stakeholders including banks, shareholders,
customers and our loyal, hardworking and committed employees for their unstinted support
in shaping and improving the performance of the company.
Chairman
Jayesh Thakkar.