Excerpts from Chairmans Speech at the 69th Annual General Meeting

Ladies and Gentlemen, on behalf of the Board of Directors, I welcome you to the 69th Annual General Meeting of your Company. We are meeting today when India's economy is facing the severest stresses and strains ever. These have arisen because of what in economic language are called "Vicious Circles," The first - Imported Inflation". The second - "Infra-structure Deficiencies". The third