It gives me immense pleasure to welcome you to the 23rd Annual General
Meeting of your Company and share my views with you on the performance
and future outlook of the company.
We have been able to achieve a turnover of Rs.151.39 Crores which is
14.50% more than last year''s turnover and a pre-tax profit of Rs.12.51
Crores which is marginally less than last year''s pre-tax profit as a
result of tremendous pressure on the margins due to increase in the raw
material cost, transportation and salary & wages. Due to the world
economic conditions, customers are not accepting any increase in price
and thus we have had to absorb some costs. Further the depreciation of
Indian Rupee against the US Dollar during the month of March 2011 had
further impacted the Other income which subsequently resulted in lower
profit than the last Year.
With a view to cater to the requirements of our esteemed clientele, we
started to import Un-polished slabs from Saudi Arabia, which has
prohibited the export of Granite Rough Blocks. The Company has last
year added two more wires saws and flaming machine which will increase
the productivity and reduce the operating costs. With the addition of
these new equipments and new colors of granite we are optimistic of
increasing the sales volume in the years to come and at the same time
maintaining current fixed cost levels and fuller utilization of
machines and equipments.
For the coming year, we aim to sustain aggressive strategy of selling
hard but at the same time maintaining lower costs in an effort to
increase the profit margin. Our venture into new and upcoming markets
like South America, Middle East, South Africa, East Europe and Russia
turn out to be profitable and we hope to reap much more business in the
coming years. We are proud to inform you that this year we have exports
reaching over 40 different countries and in the coming year we plan to
reach more. We at AGIL continued to grow and perform better to achieve
awards and accolades. The Company has received Special Export Award
from CAPEXIL for the Tenth year running.
By Adapting, Innovating and Excelling in execution we intend to take
the Company to greater days in the coming year and to achieve this we
solicit your sincere, dedicated and continued support to make 2011-12 a
truly rewarding year for all.
As always, I continue to seek your goods wishes and support for our
vision and goal.
Sunil K. Arora
New Delhi, 22.04.2011