During the year under review, total income of the Company was Rs. 23,106.04 Lacs as against Rs. 22,392.26 Lacs in the previous year reflecting Y-O-Y growth of 3.19%. However, due to adverse market conditions, the EBDITA of the Company has been reduced by 43.05% during the current reporting period i.e., Rs. 1,707.78 lacs as compare with EBDITA of last reporting period i.e., Rs 2,998.86 lacs.
We are pleased to inform to our stakeholders, that to meet out the challenges of recession in our existing final product “Writing and Printing Paper” the company has diversified in to manufacture of “Newsprints” and started manufacturing Newsprints w. e. f. 01st July 2010.
Presently the Company is manufacturing the following Products:
a) Paper and Paper Board
Benefits of Manufacturing Newsprints
1. Demand for Newsprints paper is increased.
2. The realization of payment is better with less risk of bad debts.
3. Final Product is exempt from Excise Duty.
The Hotel Division started its operation w. e. f. 15-02-2009 under the Brand “Country Inn & Suites” and having “FIVE STAR” category with 216 Rooms. Due to increased room inventory and heavy competition in Delhi NCR; the Average Room Revenue has steeply decreased and resulting low EBITDA margin in Hotel Division. But with stable government, more tourist flow the outlook for future hotel business seems positive.
The company is taking necessary steps to perform better in coming years.
We would like to express that the hotel consists four restaurants- Tatva, 3Bs, 64/6 and Kebab Factory. Each of them specialises in vegetarian cuisines across the country and abroad. The Coffee shop in the lobby with an exquisite collection of cakes and pastries is a centre of attraction for every age group. 3Bs, the pool side restaurant is very much popular spot amongst the young crowd. Another restaurants - Tatva and 64/6 provides perfect lunch and dining experiences.
I would like to express my gratitude to our bankers for acknowledge the difficult phase of economy and extended full support to company and showed their full confidence in management, governess and professionalism adopted by the company and also extend fullest support by reducing cost of fund in future time to come.
I would like to express my gratitude to our Board of Directors for their unstinting support and guidance. I am also grateful to our entire stakeholder - our customers, suppliers, and employees, who have reposed their trust in us and given us their constant support. With all their continued contributions I see the Company far ahead.
With best wishes,
Salek Chand Jain