It gives me immense pleasure to write to you at the end of another
successful year at Signet.
I am pleased to inform you that your company has closed fiscal year
2012-13 with a strong 10.5% growth in Net Sales which touched Rs.
56,016.94 lacs with Net Profit for the year recorded 204% growth which
reach to Rs. 1193.49 lacs.
Your company which was now able to drive strong volume led growth
across its markets in India, inspite of economic headwinds and
political challenges in many of these geographies.
I am sure you all must have gone through the Annual Report of the
Company for the year 2012- 13.The Company''s performance for the year
under review has been excellent despite aberrant weather and uncertain
monsoon leading to factors that destabilize agriculture. It is
heartening to note that the company''s business has significantly
improved on operational performance compared to previous year and
records a positive financial growth.
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 plans for addition of Drip Irrigation Lines to enhance
capacity to 9,00,000 meters per day, addition of HDPE Sprinkler
Irrigation lines to enhance capacity to 900 tonnes per month, addition
of PVC pipes manufacturing lines to enhance capacity to 1000 tonnes per
month. Apart from this Company also plans for addition of several
moulds to produce various currently outsourced products.
Your company has been able to drive strong growth in spite of a
challenging environment. All this would not have been possible but for
the untiring efforts of our highly committed and dedicated employee
force. I would like to take this opportunity to thank all our
consumers, business partners and employees for their support and
commitment, which has helped us to reach where we are now. I would also
like to thank our shareholders for their trust and encouragement and
assure that we would continue to strive towards strong, profitable and
With warm regards,