India’s economic development has brought tremendous success for the country in terms of a better global image. The percentage growth rate of India’s national income for the last couple of years is a true indication of its growth strategy. Going forward, I expect the outlook on the economy to remain optimistic as it has many strong development indicators. Tough the present level of inflation is considered a challenge to the growing potential of the Indian economy; the Reserve Bank of India has given top priority for maintaining price stability and for sustaining rate of growth.
Coming to the business of TMT Bars (Steel), demand for TMT Bars in the country has continued to grow. Since the business of TMT Manufacturing is a highly technology-driven process, there have been no new entrants who have matched the optimum level of TMT’s in terms of Volumes, realization and Quality.
The supply of TMT Bars from Central India has shown an increasing trend because of efficient operations, modern facilities and rate efficiencies. Buland’s position in this scenario is particularly strong as it operates a modern, technologically-advanced operation. Buland group is known to produce superior quality of TMT Bars. Its cost of production averages amongst the lowest in the country. The company has thus been able to capitalize on a large percentage of this growing demand. Further, Buland has undertaken additional capacity expansion.
Our earlier capex initiative of Rs. 25 crore towards a second TMT plant has been successfully completed. This expansion increases our total TMT production to 2,00,000 M.T. Last year, capacity utilization to our TMT plants was close to maximum.
Further to catalyze technologically-advanced operations, we have incorporated an automatic bundling and bending machine.
We are well-recognized in the market for supplying best quality products, and have some of the largest and most respected brands in the steel industry as our clients. It will always be our endeavour to maintain the high quality standards that we are known for within the industry.
On behalf of the board of Directors, I take this opportunity to express gratitude to all our customers, suppliers, employees, lenders and shareholders who have supported us in our work over the past years.