Countering Challenges Building Long Term Value

The real courage of a company is tested when it is able to counter challenges during turbulent times. The past year (2014-15) has been a difficult one for the company and the coming period does not look an easy one. Your company had gone in for a massive modernization and expansion program during the last few years and were anticipating the market to keep pace with the past trends, unfortunately it did not go in that way resulting in your company having to face a loss.

The management anticipating the difficult times swung into timely action and took several corrective actions including appointment of a new CEO, debt restructuring, etc. With a new professional CEO in place there are new management practices being put in place. In order to cope the impact of these new challenges he have come out with various new initiatives during the past year started and we are confident these will give good results in time to come. A further tightening of processes has enabled the company to become leaner and more agile than ever before. There is now a renewed focus on continuous improvements that will further help us to innovate and achieve even greater efficiencies. We accepted the change in situation and decided to counter it head-on as we were always confident that all the expansions were in the right direction and will ultimately result in building up a lot of value for its shareholders.