Mangalam Cement

Dear Shareholders,
 
 As India''s industrial and economic scenario becomes more favourable,
 Mangalam Cement is implementing relevant strategies to strengthen its
 business model and emerge as a key industry player. Throughout its
 journey, the Group has always guided the Company with its value,
 expertise and experience. I believe that Mangalam Cement will emerge
 stronger with considerable presence in the cement industry.
 
 I also congratulate the Mangalam team on successful completion of the
 projects and to have increased capacity by 1.25 MVITPA. With the
 renewed thrust on infrastructure development and much needed reforms
 coming in, cement demand should increase, Mangalam Cement is now better
 equipped to enhance value creation in the coming years.
 
 With best wishes
 Basant Kumar Birla