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Chairman Speech |
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Ladies and Gentlemen,
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It gives me great pleasure to extend a warm welcome to all of you at the Twentieth Annual General Meeting of your Company. |
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The Annual Report containing the Audited Balance Sheet of the Company as at 31st March, 2011 and the Profit & Loss Account for the year ended 31st March, 2011 together with the Notice of this Meeting and Reports of your Directors and Auditors thereon have already been circulated to you and with your kind permission, I take them as read. |
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It is a great privilege to address and share with you the highlights of the performance of the Company during the year 2010-11 and our future plans.
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Performance |
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As you are probably aware, your Company is consistently taking strides to realize the vision of becoming a leading player in the Coding and Marking industry. We look back with pride and satisfaction at what we have achieved in the last year. I am pleased to inform you that in the year under review your Company has continuously implemented initiatives to strengthen our business performance and hence towards enhancing shareholder’s value. |
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Our financial performance in FY 2010-11, the last financial year, was satisfactory. During the year under review, total revenue of the Company was ' 6,285 lacs as compared to previous year of ' 4,753 lacs. Profit after taxes increased to ' 580.61 lacs as compared to previous year of ' 208.68 lacs. Going forward, in the quarter ended June 30, 2011 of the current fiscal, we demonstrated that our financial performance is showing a consistently improving trend. Clocking quarterly revenues of ' 1801.98 Lacs, we recorded quarter-on-quarter growth of 32%. Our Profit after Tax in the quarter was ' 158.37 lacs as compared to ` 118.01 lacs in the corresponding quarter of the last fiscal. |
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Subsidiary Company |
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Your Company has entered into a MOU with M/s. Liberty Chemicals Pvt. Limited in the month of August 2008 towards purchase of its property. I am glad to inform you that as a strategy to diversify and add value, your Company has acquired all the shares of M/s. Liberty Chemicals Private Limited in the month of April 2011 after considering the assets and liabilities of Liberty Chemicals Private Limited. |
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Future Prospects |
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The organization we have built this far provides us with a strong foundation for robust growth going ahead. The current year will see the launch of new models which will help sustain our sales performance. We are also diligently working on the manufacturing and operational costs front in order to improve margins. We intend to continue investing in new technologies so as maintain our competitive edge and offer cost – effective and innovative solutions to our customers for all our line of products. In addition, the industry and applications continue to grow robustly. Being a manufacturer of the items required for the Coding and Marking industry and having a leadership edge in technological terms, your Company has an advantage over other players in the industry and is continuously increasing its market share and installed base. |
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By taking various initiatives as narrated above, the long term growth is clear. We are committed to enhance the scale, competitiveness, efficiency and productivity of our business. We believe these commitments and beliefs will contribute to the successful accomplishments of all our future growth endeavors. |
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Corporate Governance |
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Your company takes pride in its continuous dedication towards promoting the principles of sound Corporate Governance norms as a self-disciplinary code for enrichment of stakeholders' value and ensuring transparency and openness in all its dealings with various segments of business associates. |
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Acknowledgement |
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I am grateful to our employees for their contribution in taking Control Print to the heights that it has reached today. I thank our customers, business associates, suppliers, our bankers and financial institutions, as well as the Central Government and State Government for their support and inputs.
Finally, I sincerely acknowledge the support we have received from you, our shareholders, and from my colleagues on the Board. I am confident that we will be able to surpass our achievements and take your company to greater heights with your continued confidence in the management.
Thank you once again for your time and continued patronage to Control Print.
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Chairman |
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