The name Signet symbolizes the Royal Seal. The group philosophy
clearly follows the name as we believe in commitments to our
shareholders, customers, suppliers, associ- ates and employees. Signet
is a customer centric enterprise, driven with a vision to excel.
Good Day! I am pleased to extend you all, a very warm welcome to
27thAnnual General Meeting of the Company. At the outset, I am thankful
to all the shareholders of the Company for their whole hearted support
and cooperation in furthering the overall growth of the Company.
I am sure you all must have gone through the Annual Report of the
Company for the year 2011-12. The Company''s performance for the year
under review has been quite satisfactory despite aberrant
weather-uncertain monsoon leading to factors that destabilize
agriculture. It is heartening to note that there company''s business has
significantly improved on operational performance compared to previous
year and records a positive financial growth.
THE ROAD AHEAD
Agriculture is a major occupation of our country and it largely
contributes to our GDP. Hence, it is important that our farmers use the
best quality product to produce both qualitative and quantitative
yield. Our farmers need technologi- cally driven piping systems
connected with Sprinkler Irrigation System and micro Irrigation System
to irrigate their fields. Further, they need good quality fertilizer
Spray-Pump to protect their crops and need quality material handling
system and unbreakable Ghamela to store and transport their produce.
Last but not the least, every home needs beautifully moulded household
product and furniture to enrich their daily lives.
The most serious challenge of mankind in the 21stcentury will be the
lack of fresh water. Population growth, pollution and climate change,
all accelerating, are likely to lead to a drastic decline in water
supply in the coming decades. Supplies are already problematic for up
to a third of the world''s population. As agriculture alone consumes 60%
of today''s fresh water, it is imperative that water saving should start
from here. The answer to this challenge is Micro Irrigation. The
Company offer products and services that ensure precise and optimum
delivery of water and agricultural inputs to the crop. The result:
Ideal utilization of water source, healthier plants, better quality and
quantity of yield, and substantial cost savings. This understanding has
redefined the company''s focus and the Company constantly expanding our
capacity, product portfolio and market presence.
With this clear vision, the company developed most of the parts
in-house, required by farmers, to ensure quality and better logistics
for the supply of Micro Irrigation System (MIS). The MIS includes
elements like cylindrical drippers with sand guard technology, flat
drippers, water filters, screen filters, sand filters, hydro cyclone
filters, ventury injector, back flow controller, fertilizer tank,
emitting pipes, HDPE and PVC pipes, hand operated control valves and
safety valves etc.
Company''s brand, Saurabh Shaktiman, is one of the largest suppliers of
micro irrigation system to states of Andhra Pradesh, Madhya Pradesh,
Maharashtra and Rajasthan. Its irrigation system was also approved by
the Gujarat Green Revolution Company and consequently, the company
commenced its supplies to farmers in Gujarat.
The Company has already set up 7 lines of drip irrigation system with a
capacity to manufacture 600000 meters drip irrigation pipes per day.
The company has also set up many injection moulding machines for
in-house manufacturing of fittings and accessories. Considering the
growing potential of MIS, the company is in process of manufacturing
various out-sourced items like bends, valves, PVC agro fittings etc.
This will help in horizontal and vertical integration, reduction in
cost, and hence enhancement in profits. Effective steps have been
initiated in this regard.
On behalf of the board of directors, I express my sincere gratitude to
our shareholders, farmers, dealers, bankers, employees, the Central and
State Governments and other regulatory authorities/agencies for
providing continuous support at all times and look forward to have the
same in our future endeavors. I wish to express my sincere appreciation
to my colleagues on the Board for their continued support. I am
grateful to you all for your cooperation and trust.