BSE LiveFeb 27, 16:00
Bid Price (Qty.)
Offer Price (Qty.)
NSE LiveFeb 27, 15:59
Bid Price (Qty.)
Offer Price (Qty.)
MESSAGE FROM THE CHAIRMAN
Dear Fellow Shareowners,
The passing away of our Chairman - Emeritus, Mr. Jai Kumar Jain is a sad event for all of us. We are committed to the future growth of Jai Corp and will continue to be guided by his ideals and continue on the path that his vision had charted for us.
The year 2017-18 saw our economy reaping benefits of reforms initiated over the past few years. Systematic reforms with commitment to create an equitable and growth oriented society has started delivering results, it will lead to higher growth and increased prosperity for the society. This is expected to boost your Company’s prospects as increased consumption will create more demand.
India celebrated one year of switchover to a new indirect taxation system - the Good and Services Tax (GST). For the first time ever, India jumped 30 positions and is now amongst the top 100 countries in terms of ease of doing business ranking this year.
One of the legislations that contributed to India’s leap frogging in the World Bank ranking stated above is the Insolvency and Bankruptcy Code, 2016.
The single minded focus of the Government on introduction and execution of a plethora of reforms is going to positively change while creating transparency in a manner in which business is carried out in India in the medium and long term.
The Reserve Bank of India in its Third Bi-monthly Monetary Policy Statement, 2018-19 has commented:
“Industrial growth, measured by the index of industrial production (HP), strengthened in April-May 2018 on a y-o-y basis. This was driven mainly by a significant turnaround in the production of capital goods and consumer durables. Growth in the infrastructure/construction sector accelerated sharply, reflecting the government’s thrust on national highways and rural housing, while the growth of consumer non-durables decelerated significantly. The output of eight core industries accelerated in June due to higher production in petroleum refinery products, steel, coal and cement. Capacity utilisation in the manufacturing sector remains robust. The assessment based on the Reserve Bank’s business expectations index (BEI) for Q1:2018-19 remained optimistic notwithstanding some softening in production, order books and exports. The July manufacturing PMI remained in expansion zone, although it eased from its level a month ago with slower growth in output, new orders and employment.”
We have always believed in a judicious mix of traditional and new business. While new businesses, with their inherent risks, need a long lead-time to nurture and grow, traditional businesses can provide us with stability and predictable cash flows. All our traditional businesses have consolidated in the past few years.
Given the current stage of growth in the Indian economy, we expect the demand for the Company’s products to rise in the coming years. As a Company, we have always believed in pursuing a responsible business strategy and delivering quality. This combined with hard work and dedication of our entire team has helped your Company maintain a profitable path even during uncertain times.
I am grateful to the Board of Directors for their unwavering support and guidance. I also take this opportunity to express my gratitude to all our stakeholders, who have reposed their trust in us and extended their constant support.
With best wishes,
13th August, 2018