We are on the path of a spectacular bull-run. In the last years, we
have been witnessing an economic transformation sweeping across India.
The consistent GDP growth of over 8% in recent years and forward
looking economic policies are the major aspects of this transformation.
After three years of Bull Run, 2007 seems to be an year of
consolidation in the Indian capital markets. This is the time before
the next big rally which is yet to begin. And it would certainly move
our markets to dizzy heights in coming years.
Committed services and a focused strategy have helped JRG grow in the
right path. 2006-07 has been an outstanding and exciting year for your
company. The company reported an after tax profit of Rs.3.96 Crores
compared to Rs.2.16 Crores during the previous year, an increase of
83.05% over the year. The company registered a commendable increase in
all its spheres of activity last year, and we are hopeful of continuing
this performance in the coming years too.
To capitalize on the opportunities that are opening up in the domestic
market, we are investing in new marketing initiatives, strengthening IT
capability and expanding our research division. During the year, we
have added 18 Regional /Branch offices.
Chinese market has been on the headlines in the last couple of months
thanks to the huge participation by millions of local investors. Around
22 million accounts have been opened at brokerages so far in China this
year, four times more than in 2006. We are expecting a similar kind of
situation in India if our stock markets are able to give the steady
growth for a couple of years.
We hope that the consolidation in the financial service industry in
India will be strong in the near future as there is tremendous global
interest in the countrys financial sector. The world is looking at
India, as the country has the GDP growth rate and population, next to
China. Indias growth story and Fll interest in Indian equity and debt
market will continue.
Your company will have a great role in coming years thanks to it
infusing infrastructure and manpower to tap the potential of the
upcoming boom. I am sure the coming years will usher in new
opportunities for JRG.
I take this opportunity to thank all the shareholders for their
cooperation, involvement and support given to the management. I also
take this opportunity to thank our Bankers, Exchanges and Regulatory
authorities for their support rendered to us. With the sustained
efforts of the dedicated and qualified staff, contended and supportive
customers and assured and loyal shareholders, I am confident that JRG
would be able to scale greater heights in the coming years.