Dear Shareholders,
It gives me immense pleasure to share about the performance of your Company for the
year 2017-18. It was a transformative year with the introduction of the Goods and Services
Tax (GST), an important development that has created a single national market and will
benefit both consumers as well as the industry including the Consumer Goods sector. While
trade conditions remained volatile during early implementation, they have since stabilised
and there is a gradual improvement in overall demand. In this challenging business
environment, your Company delivered a strong performance.
During the Year under review, your Company has earned operational income of Rs. 168
crores and other income of Rs. 21 lakh. Profit after tax for the year under review is Rs.
2.36 crores. Earning Per Share ("EPS") of the Company for the Current year is
Rs. 11.53.
Your Company is already having one branch office at Coimbatore, Tamil Nadu. Due to
increased demand from customers, your Company has opened a new branch office at Ahmedabad,
Gujarat for quickly delivering goods to the local and nearby customers over there. I would
like to add here that both the branch offices of the Company have reported remarkable
performance during the year under review.
As communicated in previous year report, we are undergoing expansions through increased
production by new Machinery, which will results in added capacity to our existing
manufacturing capacity as well as introduction of new products i.e Copper Bus Bars,
Profile, Copper Stripes, Oxygen Free Copper Rod, Paper Insulated Copper Conductor, Fiber
Glass Copper Conductor. The project will be in full fledge functioning by end of December,
2018.
I would like to conclude with a sense of confidence and strong optimism that we are
striving and will continue to strive for a sustained and enduring growth across our
various product divisions.
I take this opportunity to express my sincere gratitude to all the shareholders for
their continued trust in the Board of Directors and the Management of the Company. On
behalf of the Company, I would also like to thank all our stakeholders - customers,
dealers, suppliers, other business associates the Government and regulatory agencies and
employees for their invaluable support and co-operation in the year gone by and expect
similar support in the years to come.
Thank you.
SD/
Nilesh Patel
Chairman & Whole time Director