1994
RADICO KHAITAN FINANCE LTD
CHAIRMAN'S SPEECH
LADIES & GENTLEMEN
I have great pleasure in extending a very warm and cordial welcome to you all
to this annual general meeting of your company. director's report and the
audited accounts of the company for the,year ended 31st March,1994 have been
with you for some time and with your permission I shall take them as read.
WORKING RESULTS
Prom the annual accounts, you will observe that the results have been quite
encouraging. In the leasing business the company h disbursed Rs. 278.32 lacs
as compared to Rs. 32.24 lacs in the previous year. The net profit of the
company at Rs. 244.42 lacs has shown a healthy increase from Rs. 18.34 lacs
in the previous year. The EPS of th-e company has shot up to Rs. 3.50 from
Rs. 1.21 in the previo year.
Keeping in view the performance of the current year your directors have
pleasure in recommending a dividend of 10% on equity sha and 13.5% on
redeemable preference shares.
The results of the current year 1994-95 will be quite encouraging. We expect
to double the turnover of the company and consequently t prof.it will also go
up substantially.
ECONOMIC SCENARIO
Since 1991, the government has been taking a series of measures to
restructure the economy. The government has given a new thrust and direction
to the economic policy of the country. The challenges and promises of a
liberalised economy are. The main theme of t new economic policy is to open
our economy to the globalised market-oriented environment by reducing costs
and streamlining dut: and taxes, eliminating administrative delays and most
important, making the Indian rupee fully convertible anks to these measur the
country 's economy is much stronger today. The inflation has been largely
controlled. The private sector v free from the needle controls, must be able
to gear itself to meet the challenging needs of the future.
Your company has already envisioned these winds of change and has initiated
the necessary process to face the coming challenge and harness the
opportunity. Your company 's course has been chartered with great care and
prophetic vision. We are equipped not only to handle the contemporary
business but also the business of the future.
DIVERSIFICATION
Besides the already existing business, your company has plans to diversify
into exports. In fact the company has already tied up for export of Rs. 6.00
crores for the current year, and the 1st shipment is expected in Setptember
/October'94.
ACKNOWLEDG EMENT
On behalf of the Board of Directors and on my own behalf, I whish to express
my sincere thanks to the members and the Bankers for their continued support.
APPRECIATION
Finally let me take this opportunity to express my thanks and appreciation
for the contribution made by employees at all levels.
Chairman
Place : New Delhi
Dated : 28-09-94