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of dark minerals. India has vast resources of granite with about 110
multi coloured etc. These varieties are used to produce monuments, building
slabs, titles, surface plates etc. About 110 variety of granites have been
identified for processing as products for exports. The deposits are widely
spread over the entire country. However, popular varieties are mainly found
in South India.
100% Export Oriented Units in this sector to promote export of value added
granite products.
Export of Granite and Marble is freely allowed. Granite is exported mainly
Over the last three decades the Indian granite industry has modernised to
global standards. Sculptures and monuments made in India are being exported
With its skilled manpower and stone technology, India has contributed to
the world prestigious monuments such as the Holocaust Museum and the
and Black Forest of Germany. However, the global recession has dampened
Outlook:
The economic crisis in USA, Europe , and other countries affected the exports to these
countries.
is affecting exports.
finished products like slabs and monuments has contributed to the slow
However the future for the granite industry for both blocks and finished
products is encouraging. India can improve its export performance as the
the world. The increase in export of blocks and finished products during
India, which is blessed with various types of unique colours and large
world market. Many countries are worried about the strong entrance of China
in the market but the fact is that China landed up importing more rough
The world wide improvement of transportation system with more and more bulk
vessels will also help many countries to import more thereby boosting our
exports.
The market potential is abundant and there are excellent prospects for the
Indian granite industry to get its due share in the world market. The
and careful planning of facilities by the Industry and Government can make
India the leading exporter of the world market. We have challenging years
ahead but the potential for growth is beyond any reasonable doubt.
The world economic slow down in major countries has affected the stone
company.
(Rs in Crores)
(approx.) (approx.)
for the sale of goods commensurate with the size of the Company and the
nature of business.
The system of internal control of the Company is adequate keeping in mind
the size and complexity of your Company's business. Systems are regularly
Performance:
The turn over achieved by the Company for the Year ended 31.03.2009 is
Rs.116.11 Crores compared to the Previous Year turn over of Rs. 101.42
the year was 5,89,795 Sq Mtrs compared to 5,74,012 Sq Mtrs of the last
year. Profit before lax stands at Rs 14.19 Crores against Rs 11.93 Crores
of Last Year. The Profit after Tax is Rs 11.98 Crores compared to Rs 8.00
Crores of Last Year. The Earning Per Share is Rs 10.81 against Rs 11.40.
The decrease in the EPS is due to the issue of Bonus shares in the ratio
and has been organizing various training programme from time to time.
The Company emphasizes training and motivation as it is the key to improved
training programs are being carried out. HR policies are being aligned with
the current trends in the market. Various welfare activities and incentives
are being carried out for staff and workers alike, making ARO an enjoyable
its employees and takes all possible care for their welfare.
OVERVIEW:
and judgments used therein. The estimates and judgments relating to the
that the financial statements reflect in a true and fair manner the form
market share. Your Company is one of the exporters of Granite Products and
The products of the Company have a very restrictive export market, which is
confined to some countries only, coupled with that the demand for granites
is on constant vigil to combat any eventuality that may pose threat to the
company's business.
The Company has only one reportable business segment and hence no further
The philosophy we have with regard to internal control systems and their
safeguarded; checks and balances are in place to determine the accuracy and
guidelines.
Rs.599.88 lacs during the previous year. The operations of the Company
The major cause for the huge loss is on account of the high cost of goods
sold, The Board is striving hard to improve the performance of the Company.
The management has done well to ensure sustain operations. However, due to
high cost and expenditure, the operations resulted in Loss. Efforts are
being made to reduce the costs involved. The Management is also looking at
PERSONNEL:
Human wealth is the ultimate wealth in for any industry. The Company
recognizes this fact and understands that employees are one of the most
I. INDUSTRY:
The Indian economy after growing at 9% during the first two quarters of
2008-09 moderated to 6% during the latter half of the fiscal. In this
scenario, the granite industry which exports 80% to 90% of the total
production of its products was the first to feel the hit, of the sub-prime
from India was Rs 2,738 crore in 2008-09 as compared to Rs 3,367 crore and
B. OPPORTUNITIES:
By general consensus, India has been blessed by nature for its wide
varieties of granite which, are not found anywhere in the world. Also the
annual growth rate, like Spain, China, Hong Kong, East Europe etc. The
market potential is abundant and there are excellent prospects for the
Polished Granite Slabs and Tiles. Your Company's brand name 'Pacific' has
built up a better. image over the other brands available in the domestic
durable varieties of Granite to the whole world and in the process nurtures
All this taken together heralds a bright future for your Company
C. THREATS:
investments such as opening their own warehouses. This strategy has its own
presently, all decisions were made by the owners at the top of the
The market share of China in the international trade in granite has been
steadily increasing in recent years. If that ever happens the threat to the
real.
This is the age of technology. Resist it and you are dead. Invest in it and
with. our Economies of Scale and Total Integration. This is what keeps your
India is the world's third largest producer of natural stones and fifth in
export of finished. products. Even today the Indian share of world market
is less than 10%. There is however, a bright future for increasing the
Indian share in the world market with its vast area of granite deposits
spreading over more than 15 states and with wide variety of colours and
skilled work force. The growth of the granite sector, which provides a lot
Moreover with the production of Pacific Red Granite, your Company shall
Your Company has in place proper and adequate system of internal controls
PERFORMANCE:
Despite the challenges of the environment and the strategic drive to
Operating Profit was Rs. 14.04 crore during the year under review compared
to Rs.10.30 crore during the last fiscal year 2007-08 showing approx. 30%
growth. Profit After tax for the year under review was Rs.12.37 crore
compared to Rs. 8.90 crore during the last fiscal year 2007-08 showing
Your Company has 192 employees on its rolls as on 31st March, 2009. Your
Company value human resource as one of its most important assets, they
being vital to the Company's performance and growth. The human resource
affecting demand /supply and price conditions in the domestic and overseas
regulations, tax laws and other statutes applicable to the Company and
incidental factors.
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