I extend hearty welcome to you on the eve of the Annual General Meeting
of the Company.
At the very outset, I would like to share with all of you my deep sense
of satisfaction over the sterling . results achieved by your Company.
I am extremely happy to report to you that despite, all adverse and
challenging circumstances, your Company has fared very well during this
year. Your company is trying to reduce the debt, increase the
profitability and significantly improve the networth.
The year 2008-09 has been odd year globally for number of significant
reasons. Meltdown of major economies, world wide recession, liquidity
crunch, de-growth in GDPs, unprecedented jobs cuts, near bankruptcy
situation for many corporate giants of the developed countries and
increased threat of terrorism than ever before impacted the lives of
India was not immune to these events. However, Indian financial and
banking sector was stable and timely economic stimulants implemented by
the Government brought stability. Further boost was received by peoples
mandate to a stable Government at the centre. Opening up of financial
and insurance sectors to foreign investors and thrust given to the
growth has helped the country in maintaining sustained growth and
thereby boosting up investors confidence in the Indian economy.
While all these events happening around the world, no exception to our
country, your Company has recorded an unprecedented growth in income
from operations and recorded increase in profits before tax to Rs.
41.41 Lacs. Revenues for the year at Rs. 409.94 lacs were higher by
442.41% compared to the previous year.
This was achieved through an increased focus on securing profitable
jobs and implementing a sustained efficiency program across the
enterprise , which includes working towards improving cash collection,
controlling expenditure and optimizing its resources wherever possible.
These initiatives are showing visible success in all major financial
indicators of your Companys results for the year.
In view of the increasing profits , your company need to vipe off its
losses accumulated over the years & thus is unable tp distribute any
dividends. Still, we hope that if the progress goes on like this, we
will be distributing dividends soon.
I am please to inform that the Bombay Stock Exchange has revoked the
suspension of trading on - the equity shares of the Company with effect
from 29th May 2009. Thus the trading of the shares of the Company has
started on Bombay Stock Exchange. Soon the Delhi Stock Exchange is also
starting its Online trading Platform facilitating trading on the equity
share of the Company at the PSEs trading terminals across the country.
Finally, I wish to record my sincere thanks to Brawn Group for their
unstinted support and contribution in turnaround of your Company. I
also wish to place on record thanks to my colleagues on the Board,
shareholders, suppliers, customers, bankers and employees at all levels
for their continued support.
B. R. Gupta