Election 2014
Richa Industries Chairman's Speech > Engineering - Heavy > Chairman's Speech from Richa Industries - BSE: 532766, NSE: N.A
Richa Industries
BSE: 532766|ISIN: INE516H01012|SECTOR: Textiles - General
Apr 17, 17:00
0.25 (1.15%)
VOLUME 17,195
Richa Industries is not listed on NSE
Mar 12
Chairman's Speech (Richa Industries) Year : Mar '13
Dear Shareholder''s
 It gives me immense pleasure to reach you once again through Ibis
 19thAnnualReport of your Company Over the last few years volatility and
 uncertainly have become ll)e new normal, uilb reducing GDHbigb interest
 rates and persistent inflation. Following on from a fxisitive 8.4%
 growth in last fiscal, the year 20/2-13 has been a rather mixed year In
 some areas your company have made excellent progress, notably in
 pre-engineered steel building division uilb an annual reienue growth
 rate of''9%, as compared lo previous year and\vur company now Ixis its
 reach in more than 120 cities in India. However. Ibere Ixuv also been a
 number of challenges, particularly with dampening economic scenario and
 policy harriers.
 Every day we ask oitrse/ivs how we can deliver greater lalue to our
 clients and sl>arebolders and look for ways to help our clients take on
 a future of sustainable growth uitb timely deliivry and economic
 solutions of our good quality products. You will be fdeased to know,
 tlrat your Company was recognised by industry, customers and media for
 excellence along many dimensions. Your company has received multiple
 awards during the year Your Company has been ranked208, in India''s
 fastest Growing Mid -sized company as per Inc. India 500 in year 2012.
 During this year, yourcompanyhas earnedtotalrevenuesofRs. 26965crores,
 wbicb isa small decrease from the previous year This was on account of
 weak economic situation of the country and consolidation of our textile
 units, wbicb is in lineuilb company''slong term
 strategicvisionforgrowth. The efforts are likely to be seen during
 FYl$''l''4. Sotwitbstanding this difficult emironinent. )oitr Company
 continues to invest in R&D. Itdest technologies.  commitment to its
 human resource training programs and do significant CSR actitities.
 You willbe pleased to know, your company bos robust plans of''growth
 forfuture. Your company has also movd to government projects of large
 scale with clients like DMRC. IOCL etc.  tffc remain commuted to our
 long term strategy and will continue to allocate capital towartis our
 existing operations and new projects.  Since past two years your
 company bos been on tlx-fore front of supplying more than ISO
 buildings. Currently, lite company is iivrking on more Iban 100
 Some of the major clients include Crompton Gretavs. .VftU''L I & V Essar
 Sleet. Miilmtiilcshmi TMX India liufi.
 Asian Color Coated Ispat Ltd. Wipro Ltd. Action Construction Equipment
 (ACE) Cranes. Video Engineering. AsJn Class Company Limited and many
 more in PEB, lebereas brands like Adidas. Puma. Next and many more in
 Textile. At the core of our existence, tiv are one of''be fastest
 growing building solutions company, where rfw strength of our products
 allows us to sculpt the future of bit tiding solutions across tbe
 With Rupeeplunging to reconllevef. IbisImprove//It bea positiiv
 developmentfitrexportcompanies and exports of our fabric will increase
 to 5% in different countries like Sri Lanka, Bangladesh etc. tie Ixive
 also commenced exports of our PEB Division from this year Bfc are happy
 to announce that lite board of Ricba Iras recommended a final
 dhiiieiulof5% on Ibeptiid up value ofs/rares. the dhii/endis payable to
 tire equity slmrefxitders, whose name appears in tire records of our
 share transfer agent /.. Link Intime India Private Limited as on tbe
 date of book closure. Tirepayment of ''dividend is subject to approval
 of ''sharelro/ders in our Annual General Meeting.
 Our strategy is based on building world-class assets, but this cannot
 be achieved without Ibefreopte to construct
 operateand''managetheseassets. /\s Ivisit lite differentpartsof
 ourbusiness, lam always impressed by tbe quality oftbepeo/de that we
 have within Ricba. To further strengthen our team at Ricba and work
 towards overall organisational development, uv bate hired NAURS itho
 will be working on regular training and developmentsof our people
 towards achieving our targets. I bave great confidence in our strategy,
 our team, and belief that uv ere well positionedto continue to
 growandthrive in tlreyearsahead.
 I would also tike to forward my special thanks to our Bankers namely.
 Indian Overseas Bank and Corporation Bank for tlreir continued support
 in difficult economic scenarios
 On behalf of tbe entire Company and its leadership team. I want to
 drank each stake holder and specially our shareholders for their
 support and commitment to the Company. It is tbe support of
 share/udders that bos helped Ricba climb tbe stairs of success. I
 lookfonmrd to your continued support as your Company embarks on tire
 next phase of its growth Journey which promises to be exciting and
 rewarding to every slakelndder
 WithBest Wislres Sushil(,upta
 Chairman & Managing Director
Source : Dion Global Solutions Limited
Quick Links for richaindustries
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.