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President's Message
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| Dear Stakeholders, |
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| I am delighted to share with you that your Company has made marked progress
in financial as well as operational performance in Financial Year 2009-10. First
of all, I wish to thank you all for your continued support during the challenging
period of financial stress in the global economy. This support reflects the trust
and confidence that you have reposed in the capabilities of OCL and I assure you
that we shall do our utmost to live up to your expectations in the years ahead.
Elsewhere in the report you will find the current industry scenario and its growth
prospects which look quite good. |
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| As the Indian economy enters a new phase of growth, we are fully geared to take our innovation and quality to yet another level. You will be happy to know that
the operational results of the current year have registered an increase of 23% in
net sales, 54% in operating profit and 58% in profit before depreciation and tax
over the previous year. |
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| I would also like to share with you our continuous pursuit for expansion/
diversification and are working towards setting up Grinding Units to augment production to meet growing demand of cement and we are in the process of
setting up X 7 MW Coal based Captive Power Plant, which will make us energy
self sufficient this year. |
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| OCL is positioning itself to meet the future demand growth and marketing needs
which will be driven by higher capacity utilization, expanded customer reach,
focus on working capital rationalization & various initiatives for productivity
enhancement. |
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| I would also like to share with you that OCL has been fully responsive to the
habitat that sustains it and has undertaken numerous steps including on water
conservation. Water management systems have been put in place which include
recycling of used water, creation of water bodies, ground water recharging,
roof top rain water harvesting, installation of sewage water treatment plant to
treat sewage water discharged through drains from Rajgangpur Municipality
and own industrial township area at Rajgangpur, which are in the process of
implementation. Some other conservation plans are also in the pipeline and we at
OCL are very charged up to take this cause seriously and contribute to the water
conservation initiative in our own humble way. |
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| I am glad to state that the overall performance of our business has grown at a
decent rate during this year and is poised to grow further. On behalf of the OCL
family, I would like to thank you all for your valuable contribution towards the
Company’s remarkable growth. With our quest for excellence and your unstinting
support, we will continue to improve our position. |
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| Looking forward to continuous growth and fruitful association in the years
ahead … |
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| “As it appeared in Annual Report 2009-10” |
| Warm Regards. |
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| M.H. Dalmia,
President |
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