Annual General Meeting 25th July’ 2008 Chairman's Speech |
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India’s real GDP grew by about 9% in the year 2007-08 largely helped by agricultural growth. Given the strong fundamentals of the Indian economy, it was believed that the economy would maintain the growth rate of 9% in 2008-09 also. However, steep increase in prices of oil and key metals has been fuelling inflation in the last three months. Thus, the growth in 2008-09 may be affected. The interest rates have also started hardening up. For the first time in several years Indian economy is showing signs of external trade deficits. Under the influence of all these factors, prognosis for the year 2008-09 for the entire economy seems to be one of moderate growth. FINANCIAL YEAR 2007-08 The Annual Report for the year has already been circulated. I will just cover the salient points. a. Sales grew by around 16% from Rs.293 Crs to Rs.340 Crs.
BRAND SALIENCE You are aware that your Company’s Prestige brand has been recognized as “Super brand’ in the Kitchen segment. Now your company’s brand ‘Prestige’ has been declared as India’s most preferred brand in the pressure cooker category and won the credential “Mera brand” award by the 5th Consumer World Awards |
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