Capacity Expansion:
Your Company has invested approx. Rs. 40 Crores in CAPEX to increase the capacities at various locations in the last 18 months. This will be translated in to increased sales realization in the year 2011-12 which will result in improved Operating and Net Profit for the year. Investment in increasing capacities will continue in next three years as the demand for our products is increasing and this should give us better turnover and profits for the years to come.
Technology:
Your Company has modernized all its existing plants to reduce operating cost. Your Company has also developed new products for the Paper & Construction Industry where we expect substantial growth in coming years. This will add to our operating profit.
Talent Management:
The Company recognizes that talent management is a constantly evolving discipline which needs to engage with dynamic environment. Built on an entrenched set of core principles, the Company’s HR policies designed to ensure that it remains the employers of choice. Compensation packages have been revised to ensure that superior resources are sufficiently incentivized to join and stay with the Company. Your Company also offers all unmatched canvas of professional opportunity for growth and development of each employee.
Information Technology:
The Company believes an IT as a business enabler which can add a cutting edge difference to its capabilities. Your Company has successfully implemented ERP system that enables online data capture and seamless integration of function within the business verticals.
Sustainable Development:
Sustainable development is the key to an organization to survive and thrive. Accordingly, we have set out a journey to achieve world class sustainable development through maximum utilization of Mining reserve with zero wastage plan, employee engagement and welfare measures.
Outlook:
The Company believes that in the forthcoming year, it will continue to remain biggest supplier of white performance minerals to Coating, Plastic, Paper and Construction Industries. Some areas of opportunities are to increase in manufacturing capacities at North region by 300%, South by 200%, West by 200% and Bhuj by 100%.
Development Project:
Developmental business has been playing an increasingly strategic role in the growth of the Company. The Company has now introduced host of new high value products for Paper, Paint and Plastic Industries which should provide better margins for coming years.
Before concluding, I would like to appreciate efforts of all the employees of the organization for taking this Company to greater heights.
I would like to thank all my colleagues on the Board who have jointly steered the Company during the difficult period of FY 2010-11.
I am also thankful to all other stakeholders like shareholders, financial institutions, members of our supply chain and regulators for providing support to our efforts.
The Company is committed to value creation through profitable growth of its business and we reaffirm our commitment to uphold highest standards of Corporate Governance.
Thank you
Chandresh S. Parikh
Chairman and Managing Director
August 18, 2011