Managing Director's Message

Dear Shareholders

The year 2016-17 has been significant in more ways than one.

• This was the year that the company successfully emerged out of the Corporate Debt Restructuring (CDR) regime, after being pushed to the brink by the adverse scenario that the industry witnessed.
• This was the year company embarked upon a CAPEX programme to augment its capacities in the Cement and Boards Division. The projects for capacity enhancement in Cement and Boards Division are nearing completion. The company is poised to fully utilise the opportunity of the upswing in demand which is expected in the near future.
• This was the year in which our company achieved the important milestone of Rs.1000 crore gross turnover.
• This was the year the company recorded its highest dividend pay-out (Rs.1105.27 Lakh) in its history. In terms of percentage of dividend on equity we matched the previous best of 25%.
• This was the year which saw the highest ever outlay ( Rs.152 Lakhs ) for the CSR activities focussed on education, healthcare of the residents in the vicinity of the plant site.
• This was the year when the company took the initiative to set up a Junior college in Simhapuri. This is a step forward in fulfilling the longstanding desire of the residents in the vicinity of the plant site.
• This was the year in which the number of patients receiving the healthcare from the free hospital run the Company crossed the average of 100 per day.
• This was the year the company made its highest contribution to the exchequer (Rs.231.38 Crores) by way various taxes and duties of direct and indirect. Its a matter of immense satisfaction that the company has been able to serve the interests of each segment of its stakeholders. I take this opportunity to promise that we shall not rest on our laurels and our quest for excellence will continue.