Century Textiles and Industries

Dear Shareholders,
 
 The Indian economy, which was growing steadily and at a rapid pace over
 the last five years, has taken a backward step, due to the major
 worldwide financial turmoil and continuing global slowdown. Attempts
 have been made to counter the domestic effects by introducing fiscal
 measures and stimulating packages, with a view to provide tax relief to
 boost demand and increase in expenditure relating to public projects.
 In addition, the Reserve Bank of India has also taken a number of
 measures to increase the availability of credit, ease liquidity and
 reduce lending rates. It is expected that with implementation of all
 these measures, the slowdown in the Indian economy would be reversed
 and more favourable trends would re-emerge in the near future.
 
 Considering the surrounding somber and difficult circumstances, the
 performance of our Company is considered satisfactory. Due to the
 steadfast thrust of the Government on education and infrastructure, the
 demand for Cement and Paper which are major contributors to the
 Companys revenues is expected to remain firm.
 
 Your continuous support and confidence have in no mean measure inspired
 us to achieve our goals to enhance shareholders value. I would like to
 extend my sincere thanks to all the shareholders, customers and the
 staff for their faith in the Company and unstinted support, as always.
 
 B. K. Birla
 Chairman