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Jindal SAW Limited is at a cusp.
The comprehensive reorganization of the company is complete, wherein now Jindal SAW Limited stays focused on its core businesses predominantly in India and MENA region. There is a deliberate attempt to move up the value chain and penetrate the market deep to consolidate and dominate the leadership position in the industry. The financial performance of the company is a testimony to the cfibrts of the last few years and is also an indicator of the trend that we expect in the near to medium term.
US is leading the Global markets to set up a new World order. ‘Made in USA is the new mantra and high tariff barriers are being built around the country to protect the US manufacturers and the market from imports. China and other countries are taking similar counter measures and it wouldwill be interesting to see how the import tariff war settles the patterns of Global trade. Europe is yet to find its bearing. BREXIT has made it more complex and if UK does well on its own it is likely to put pressure on the stability of European Union.
Among all these developments, it has become certain that Asia Pacific is going to lead the World economy for the next few decades. China is facing challenges on the environmental arid structural front but still maintains a reasonable growth. The ASEAN region is showing signs of cooperation and promising healthy growth and opportunities. The stability in oil prices and considerable improvement in the geo-political situation in Iraq and Syria have thrown up opportunities for reconstruction in the MENA region. These factors contribute to a stable export market for your company.
India has surged ahead on the back of strong governance leading to structural reforms, tax reforms and large infrastructure spending. As per the IMF “The Elephant is starting to run”. India is likely to lead the growth in the Asia Pacific region and therefore the World for the next decade based on the momentum and the stability in its governance and economy.
The foregoing arc encouraging signs for your company and the company is well prepared to benefit from the opportunities emerging from these growth markets. The infrastructure build up in India and a robust GDP growth has created a healthy demand for the entire range of products. The company is also benefiting from the synergies of its diversified product range, strong presence in the Seamless & Stainless Pipes and Tubes markets, the stability in the iron and steel market and the value added products that the company ofTers to its clients.
1’he company stays committed to produce high quality products and meet customer expectations in terms of delivery’ and price. Optimization of cost of production, improvement of yield, reduction in rejections and efficiency in the supply chain management remain focus areas which has contributed to the improved performance of the company. With these initiatives the fundamentals of the company has become robust. The company has built healthy momentum to stay on course of the growth path in the near to medium term.
Our commitment to environment is paramount and the company maintains the highest standards of corporate governance. Svayam, continues to lead our CSR activities and focuses on universal accessibility.
The company maintains excellent relationship with the banks and financial institutions, the tax authorities and other regulators throughout the country.
It is my pleasure to thank all the stakeholders, banks and financial institutions, government, tax and regulatory authorities, our clients, customers, suppliers and vendors who are all so important for our all-round performance.
I assure you the company possesses the necessary management bandwidth and the other resources to pursue the quest for the business excellence as we are hopeful of a magnificent future.
Prithavi Raj Jindal