C Mahendra Exports

 Dear Shareholders,
 
 I am glad to welcome you to the 9th Annual General Meeting. Your
 continued trust, support, encouragement and fair criticism based on
 data and facts are what give us energy, enthusiasm, confidence and
 motivation to strive for betterment. I will make a departure from my
 usual practice and skip talking about most of what is already available
 in the Annual Report 2015.
 
 On behalf of the board of directors, C. Mahendra Group, and every one
 of you, I place, on record, our deep appreciation of the clients,
 vendors, partners, investors and bankers for their continued support.
 
 The report also identifies key trends along the value chain for rough
 and polished diamonds, as well as diamond jewellery. We compare 2015''s
 results with those of previous years, highlighting the impact of
 continuing economic uncertainty on the diamond market.
 
 We need to support our growth by ensuring suitable, sustainable supply
 of rough diamonds. Given that diamond miners have been cutting back
 production, supply to the market will be limited, making this an even
 more important strategic focus. As many businesses have been limiting
 or ceasing their purchasing over the past few months, suppliers are
 tending towards companies that have shown consistency and continued
 demand over this difficult period.
 
 Recognizing and building on our strengths will drive our growth and
 defend us against competitors. The superior quality of our products
 creates customer loyalty. And our passion for innovation allows us to
 offer our customers more exciting, desirable products with higher value
 propositions.
 
 We want to make our shareholders, employees, customers and suppliers
 prouder than ever to be associated with C. Mahendra Exports Limited. I
 assure you of our best efforts and thank you for your continued
 commitment and belief in our Company. I look to forward to the success
 with you in the coming year.
 
 Thank you for your attention.
 With best Wishes,
 
 Yours Sincerely
 
 Mahendra C. Shah
 Chairman