The Company’s continued focus towards various strategic management initiatives with a view to exploit favorable market conditions and bring razor edge performance to the forefront has been of paramount importance. The enthusiasm demonstrated by the implementation of modern management initiatives such as Total Productive Maintenance (TPM), Six Sigma, Performance Management System (PMS), Total Quality Management (TQM) and Activity Based Cost Management (ABCM) have resulted in these initiatives gathering momentum.

The Company has given a renewed thrust to Supply Chain Management (SCM) initiative to derive significant benefits by way of value enhancement, inter-alia, through reduced logistic costs, optimization of product mix and scientific inventory management through long-term contracts with suppliers.

These initiatives apart, judicious selection of technology and equipment, continuous training of human resources, restructuring, improving product and market mix have together enhanced your Company’s global competitiveness.

The Company’s efforts will be aimed at maximizing and sustaining investors’ confidence in our core area of competence by enhancing the present value of future EVA through an integrated set of improved initiatives.