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APL Apollo Tubes
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« Mar 13
Chairman's Speech (APL Apollo Tubes) Year : Mar '14
Dear Shareholders
 
 This year has been a remarkable year in terms of operational
 performance. On a consolidated basis we have reached a consolidated
 gross turnover of Rs. 28,619 million and achieved a production of 572,000
 tonnes. Now our capacity has reached the landmark milestone of 0.8
 million tonnes and we aim to exit FY2015-16 at a production run rate of
 1 million tonnes.
 
 India is well on its way to become the 2nd largest producer of steel by
 the year 2016. The per capita consumption is expected to go up by 8-9%
 annually over the coming decade to reach a level of 150 kgs by 2030.
 With the focus of the new government on the infrastructure buildout,
 there will be increased consumption of steel, especially in the pipes
 and structurals segment.
 
 Today the usage of ERW pipes has expanded from traditional areas like
 liquid transportation, fire fighting, cabling, ducting, fabrication and
 power transmission to newer areas like structural sections, sprinklers,
 gas distribution, bus body fabrication, automobiles, airports, shopping
 malls, bridges, windmills & many others. The opportunity size has
 expanded greatly and this has motivated us to target sales of over USD
 1 billion in the next couple of years.
 
 We have assembled the largest range of products as well as have the
 largest and most diversified footprint in the industry. Acquisitions so
 far have been successful for our growth strategies. Now, we can proudly
 claim that we are among the few, who have demonstrated abilities to
 turn around sick units into successful ventures and that too within the
 shortest possible time. We are still open to this kind of challenge, if
 provided with appropriate opportunities. We have invested heavily in
 our brand and aim to create a customer demand pull over time. Our
 aspiration is to make APL Apollo the brand of choice among our
 customers.
 
 Over the past years, we have focused on incremental operational
 improvements. We have benchmarked our HR policies with the best in the
 industry, focused on increased training of our employees, initiated
 cost reduction programs and used technology to improve the productivity
 across our manufacturing lines.
 
 We met another milestone with the SAP implementation and have moved
 forward in automating our accounting processes. I personally believe
 that it is a very important step, to help us build the checks and
 balances to support the high growth that we have seen.
 
 We aim to hit the 1 million tonnes sales in the next couple of years.
 We have initiated a number of steps to scale our I organisation and
 build our brand, which has started yielding results.
 
 Another goal that we set for ourselves in 2012 was to achieve a USD 1
 billion in revenues within 5 years. We should be i able to achieve that
 within the targeted timeframe.
 
 I am very optimistic about the future, with the new government winning
 with an absolute majority. There is anticipation of many reforms being
 unleashed and renewed efforts to kick start the stalled Indian economy.
 We at APL Apollo have taken this as a year of renewed focus on growth
 with better margins, and aim to put our energies into launching new
 products, increasing our distribution network and building our brand.
 We are extremely focused on our costs and aim to reduce wastage in our
 manufacturing process. This along with our strong balance sheet,
 healthy product pipeline, diverse geographical presence and a clearly
 defined strategy will make us better positioned for future growth.
 
 I feel good about what we''ve done, and even more excited about what we
 want to do. I am grateful to our customers for their business and
 trust, to my colleagues for their hard work, and to our shareholders
 for their support and encouragement. I thank all my stakeholders in
 partnering us in this exciting journey. Now that the business is
 generating adequate cash flows, board of the Company recommended
 dividend of Rs. 5 per share for FY 13-14. I am grateful to the board of
 directors for their support & guidance. I would like to express my deep
 gratitude to all stakeholders for their continued faith reposed in APL
 Apollo.
 
 Sanjay Gupta
 Chairman
Source : Dion Global Solutions Limited
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