we undertook a drive modernization and de -bottlenecking of our existing manufacturing facilities, which 'II result in better, efficient and competitive operations. Further we have decided to shift towards value-added products. This will help us in densking our product mix from cut-throat competition and it will strengthen our margins and hence, our corporatebrand.

we undertook a drive modernization and de -bottlenecking of our existing manufacturing facilities, which 'II result in better, efficient and competitive operations. Further we have decided to shift towards value-added products. This will help us in densking our product mix from cut-throat competition and it will strengthen our margins and hence, our corporatebrand.

for accelerated pace of growth. strengthen the Company's position in the emerging markets, especially in western part of India (there is huge demand -supply gap in this particular segment) it became necessary to enter into new territory and for this purpose, the management of the Company decided to set up a green field project in Khopoli, Dist. Raigad, Maharashtra. This manufacturing facility'll have installed capacity of 25000 MT per annum in Phase -land will manufacture ERW Steel Tubes & Pipes in all four categories viz. Black Pipe, Hot dipped Galvanized Pipes, Hollow Sections and Pre -Galvanized Pipes and will further enhance Company's product offerings and 'II also result in improvements in overall margins on account of higher margins in that market. Being proximate to ports, these facilities would not only ensure savings in logistics cost, but would also enable higher exports. We have already implemented substantial part of the project and commercial production has been started since. We are establishing this project as state of art, world class manufacturing line, completely synchronized with ancillary, balancing/finishing equipments with superior layout plans and as such we are expecting better capacity utilization at that plant as compared to the existing facilities and to the industry average also.

The Jammu & Kashmir had initiated a drive of electrification in its vastly spread villages and other areas in the Year 2008 and invited private sector entities for participation. Your Company formed a joint venture with other constituents and presently the company's investment in the this Joint Venture stands at Rs. 34 millions. This Joint Venture has executed contracts worth more than Rs. 1400 millions till date since inception with success. Banking on this successful joint venture's track record, the Company is explonng and actively considering similar opportunities also.

with an objective of exploring the business opportunities in international steel products market, and to take the strategic advantage of its location the company set up a wholly subsidiary company with an initial investment of Rs. 10 Million in Dubai M/s RST International Trading FZE. The company was registered with UAE Authorities in February 2015 and started operating in April -2015. The said company is doing business of trading in basic steel products, basic non-ferrous metal products, building construction material, pipe & fitting goods and industrial plant equipment & spare parts. Its operations are presently spread over UAE, Sudan, Ethiopia, India and is contemplating to extend to European Countries and otherAfrican countries.. We are ready for an exciting future and have identified our set of priorities: expand our capacities and strengthen supply chain capabilities; extend our brand presence across India with qualitative products -delivered in time -with an asset -light model; grow presence in international markets, venture into synergic products, platforms and opportunities. Before I conclude, I would like to thank all our team members for their unstinted support and commitment during the challenging period. Our people are the real champions behind our success, who have consistently embraced challenges and took the business forward. I would also like to thank my fellow Board members for their unconditional support. I extend my gratitude to our customers, suppliers and other stakeholders for their continued engagement.