It gives me great pleasure in welcoming you all to the 30th Annual General Meeting of the Company.
With your permission, I take as read the audited financial statements, the Board’s Report and the Management Discussion and Analysis for the year ended 31st March, 2018. With these reports continuing to serve as a comprehensive analysis of your Company’s goals, aims, challenges and opportunities in the short, medium, and long-term, I shall restrict myself to a brief overview of the last year and the immediate future.
The Company has achieved a total turnover of Rs. 967 Lakhs during the year and the profit after tax for the period was Rs. 60.10 Lakhs.
In the previous year I had mentioned that we would be implementing the following new projects during the current year.
A) Senior Housing.
B) Land Aggregation & Project Management Services.
C) Revival of the aquaculture industry.
Of the above the company was able to start the revival of the aquaculture industry and a substantial portion of our revenues and profits are expected from this sector in the coming years.
The land aggregation business and project management services have been initiated with an excellent network of experienced and talented professional. Your company is in apposition to extend 360° project management and technical consultancy services, with a focus on integrated townships, food processing and high tech aquaculture and agriculture.
As far as the senior housing projects, the same has been deferred to the next year due to the sluggish reality markets.
Your Company has an experienced Management and is quick in identifying new growth avenues and capitalizing on them. We are also trying to capitalize on emerging opportunities in other States. We have adopted a professional approach towards managing the Company and inducted professionals at the senior level and mid- level management to prepare for the next level growth.
While focusing on the business, we still continue to be socially responsible. We value the society and our employees. We are continuously strengthening the safety, health and other social welfare of the employees across all our projects.
I would like to thank you our shareholders, all my fellow Members of the Board, employees, clients, suppliers, Bankers, Government agencies and other stakeholders for their continuous support and confidence reposed on us. I am grateful to you for your trust and faith that you have show in us and looking forward for a better performance in future.
With warm regards
Shaji Baby John
Chairman & Managing Director