Chair­man Mes­sage

Business Sphere - - Heading For Rs. 9,000-cr Cdr -

L Mad­husud­han Rao Ex­ec­u­tive Chair­man Dear Share­hold­ers, Wel­come to the 19th An­nual Gen­eral Meet­ing of your com­pany. At the out­set, I would like to thank each and ev­ery one of you for your sup­port and trust. As you are aware, the year gone by has seen many eco­nomic and busi­ness chal­lenges glob­ally as well as in the coun­try. The coun­try’s GDP growth rate slipped be­low ex­pec­ta­tions re­flect­ing the eco­nomic slow­down. Con­tin­u­ing in­fla­tion, high in­ter­est rates, volatile forex mar­kets, Govern­ment pol­icy is­sues and bear­ish cap­i­tal mar­kets af­fected the In­dian in­dus­try, and in par­tic­u­lar the in­fra­struc­ture sec­tor. Your com­pany be­ing one of the ma­jor play­ers in the in­dus­try too got af­fected. In spite of many chal­lenges your com­pany did rea­son­ably well in the pre­vi­ous year. The op­er­at­ing power ca­pac­ity of your com­pany in­creased to 3330 MW as of end March 2012. Your com­pany cre­ated a two level power struc­ture to sup­port its growth path by mo­bil­i­sa­tion of cap­i­tal at the ap­pro­pri­ate level to the ad­van­tage of the in­vestors.

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