It is my privilege to welcome you all, on behalf of the Board of Directors and the Management Team of Control Print Limited, to the 27th Annual General Meeting of the Company.
The Company’s Annual Report and Audited Accounts for the year ended March 31, 2018, have been with you for some time now and with your kind permission, shall them as read.
I would like to begin by brief outline of the macroeconomic environment which prevailed in 2017-18 as it provides the proper contextual perspective for determining your Co’s performance during the year. Thereafter, I would like to present before you the highlights of your Co’s performance and the way forward for your Company.
India’s GDP growth has averaged 7.3 per cent for the period from 2014-15 to 2017-18, which is the highest among the major economies of the world. That this growth has been achieved in a milieu of lower inflation, improved current account balance and notable reduction in the fiscal deficit to GDP ratio makes it all the more creditable. Growth of exports rebounded into positive growth during 2016-17 and strengthened further in 2017-18. The full potential of GST and other reforms initiated by the government will be expected to blossom during 2018-19 and being an Election year, the Government spending and push towards implementation of Policies will witness a high growth trajectory.
In the year gone by Control Print has increased its turnover. Your Company has created a broad application and installed base with comprehensive range of Coding and Marking solutions. Besides this, efforts to provide customisation have won the Company a loyal clientele base. This confidence and trust that its customers have placed in the Company has stimulated its growth and broadened its horizons.
The total income of the Company for the year ended as on March 31, 2018 is Rs. 174.37cr is higher by about 17.41 % over that for the previous year which was Rs. 148.52cr, on account of considerable progress in various projects/activities, resulting in pre-tax profit of Rs.31.71cr for the year as against the pre-tax profit of Rs. 19.64cr lakhs for the preceding year.
The Board of Directors has recommended a final dividend of Rs. 3.50 per share for the year under review. In addition to the final dividend, the Company had declared and paid interim dividend of Rs. 3.00 per share, i.e. total dividend would be Rs. 6.50 per share for the year (i.e 65%, compared to 60% of Previous Year).
Your Company is committed to growing and enhancing its leadership in its business, thereby contributing to its underlined objective of maximizing of shareholders value on a long-term basis.
The year 2018-19 could be year for India with most macro factors in place and the result of the government’s push to increase investments. Additionally this being an election year, the Government will take extra initiatives to keep the growth momentum and Industrial Output at a high. India has been one of the best performing markets among emerging markets, and therefore should be able to attract capital through FDI as well as capital markets. The improved ranking of India in “ease of doing business” will also attract multinational companies to increase their production activities in India, which will make India the hub for manufacturing sector.
We have the confidence to rise to the many challenges and to retain our market leadership position over the country and improve our competitiveness. We are committed to enhance the scale, competitiveness, efficiency and productivity of our business, benchmarked to global, world-class standards. We believe these commitments and beliefs will contribute to the successful accomplishments of all our future growth endeavours.
Company’s Social Contribution:
During the year, the Company has undertaken Corporate Social Responsibility (CSR) projects viz Improving quality of education and skill development at two government schools situated at Nalagarh and Pune; equipped children from marginalized communities with high quality, value based education to enable them to develop their limitless potential; and also provided holistic nutritional intervention to underprivileged children afflicted with cancer in Kolkata and Hyderabad.
Before, I take up the listed items in the agenda for approval, on behalf of the Board of Directors, I would like to take this opportunity to thank you for your support that has enabled your Company to grow thus far. I would also like to thank all your Company’s loyal customers who gave us staunch backing and helped it to gain the statue it has. I express my gratitude to the Government of India, Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI) and all other Statutory and Regulatory Authorities for their continued timely support and valuable guidance. The co-operation and support rendered by various State Government and other banking and financial institutions is also gratefully acknowledged. I would like to also express my sincere thanks to the Board of Directors of the Company who have dedicated themselves to improving the Company. Last but not the least, I would like to thank the workforce of your Company across levels, who have been dedicatedly working for better tomorrow. This enables all of us to look ahead with confidence that your Company will overcome the current challenges to emerge a leading player in the Coding and Marketing Business. With your continued support and best wishes, I am confident that we will achieve the pinnacles of success.
Yet again, I thank you for staying invested in Control Print Limited and taking time to participate in our meeting today. Your continued trust, encouragement and support are what gives us energy, enthusiasm, confidence and motivation to strive for better. I trust that I will see you next year to be able to share with you the progress that your Company will make in the ongoing financial year.
Thank you once again for your time and your continued patronage.