Director's Speech on AGM

Sample Template for Director Speech to shareholder in AGM of a public limited listed company in India in word/ .doc format

Speech

Dear Shareholder,

We welcome you to the Forty Ninth Annual General Meeting of the Company.

The year 2012-2013 has been a difficult year globally for all industries marked with slowdown in the Indian economy and the global meltdown. Despite of which the demand for your Company’s value added products continued to rise, resulting in better despatches and sales of its major products.  There has been good demand for HRC (Hot Rolled Coils) and Galvanised HRC manufactured by your company, which has resulted in your company achieving the highest ever production, highest ever despatches and highest ever sales of HRC during the year under review.

 During the year under review, your Company’s Net Profit after tax has decreased to Rs. 10000.00 Lacs as compared to Rs.12000.00 Lacs last year in spite of a 30.00% increase in your Company’s turnover. This increase in turnover has been achieved due to enhanced production. Abnormally high raw material costs during the first six months of the year under review and thereafter the global meltdown during the second half of the year under review resulted in your company not being able to pass on the cost escalations during the first half and reduced demand in the second half resulted in lower net realisations for your company.

In case economic recovery is delayed during the current financial year, there may be a fall in the demand of HR Coils  in the market but, your Directors are confident that your Company will be able to produce and sell its products even in challenging situations as your company’s products are  of superior quality available at an affordable price.

                                                                                                                                  Regards,          

Neetu Singh

Managing Director

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