THE CHAIRMAN’S LETTER TO SHAREHOLDERS
Dear Shareholder,The global economy is graduallyemerging from the throes of themeltdown of 2008. While growth rateshave picked up, it will still be a while toget back to the pre-crisis path. However,the fundamentals of the global economyappear to be reasonably good. The IMFhas forecasted a growth of 2.3% for theadvanced countries and 6.3% for theemerging economies for 2010. Of allthe countries, China’s growth has beenmost impressive. Its economy hasrecorded a double-digit growth for several quarters. And it continues tosurge.India also is on a strong growthtrajectory. Our economy is slated to growin excess of 8%. Consumer spending isgaining momentum. Private investmentis picking up steam. Globally and inIndia, the trend is encouraging. Theseimpact your Company’s growth andperformance.For the Financial Year 2009-10, your Company’s performance has beenrobust. Net Revenue at Rs.20,195 croresis up by 9% over that of the precedingyear. Net Profit at Rs.3,096 croresregistered a growth of 42%.