XII. DETAILS OF PROMOTERS AND OTHER INDIAN PROMOTER GROUP COMPANIES INCLUDING THEIR CAPITAL STRUCTURE AND FINANCIAL STATEMENTS

Details of Promoters

  1.  

Mr. V.R. Venkataachalam
Old No.25, New No.24,
Sir C.V.Raman Road, Alwarpet, Chennai – 600018

Industrialist                              PAN: AADPV3203H

  1.  

Mrs. Radha Venkataachalam
Old No.25, New No.24,
Sir C.V.Raman Road, Alwarpet, Chennai, 600018

Industrialist                             PAN: ABVPV1614K

  1.  

Mr. V Sengutuvan
Old No.25, New No.24,
Sir C.V.Raman Road, Alwarpet, Chennai, 600018

Industrialist                              PAN: BBWPS3097M

  1.  

Mr. V Rajasekaran
Plot No.499,18th Street,
4th Sector, K.K.Nagar, Chennai 600 078,

Company Executive                 PAN: AERPR0716F

  1.  

Mr. D Prasannamoorthy
2/1, First Street, New No.15, 6th Street Nandanam Extension, Nandanam
Chennai 600 035.

Company Executive                PAN: ADBPP4062I

  1.  

S Varatharajan
34, IIIrd Main Road, Kotturpuram
Chennai 600 085.

Business                                   PAN: ACDPV7512R

  1.  

Mr. M Balaganesh
15, Vinayagam Street,
Raja Annamalai Puram Chennai 600 028.

Professional                            PAN: AASPB2657A

The promoter group companies’ details [as on 31.3.2009] are as follows:

 

(in Crores)

1.

M/s TCP Limited

Authorized Capital.

12.00

Paid Up Capital

5.03

Turn Over

292.60

Profit / (Loss) after tax

60.43

Dividend

30%

 

2.

M/s Thiruvalluvar Textiles Private Ltd

Authorized Capital.

14.50

Paid Up Capital

11.82

Turn Over

101.44

Profit / (Loss) after tax

(20.85)

Dividend

Nil

 

XIII. MANAGEMENT’S DISCUSSION AND ANALYSIS

Among other things, the Management’s Discussion and Analysis (MD&A) provides an overview of the previous years of operations and how the company fared in that time period. Management will usually also touch on the upcoming year, outlining future goals and approaches to new projects.

The MD&A is a very important Section of this report, especially for those analyzing the fundamentals, which include management and management style. Although this Section contains useful information, investors should keep in mind that the Section is unaudited.

On the effective implementation of the Scheme, the Company is planning to initiate the business of Agencies and Services Undertaking by diversifying its activities to the trading of textiles and engineering products, agencies, cold storage plants at Cochin and warehousing.

The Company is also planning to improve its present business by adopting superior and innovative means. The Board of Directors of the Company has vast experience and knowledge in the field of textiles and engineering products which would be the complementary advantage.

The growth and scope of activities such as textiles and engineering products, agencies, cold storage and warehousing are discussed in detailed. Some of the excerpts are given below -

Textile Industry

Indian textile industry contributes about 14 per cent to industrial production, 4 per cent to the country's gross domestic product (GDP) and 16.63 per cent to export earnings. Nearly 40 per cent of the textiles produced in the country are exported and the textiles sector is the biggest employment generator after agriculture. The sector is expected to generate 12 million new jobs by 2010. The sector targets US$ 6 billion foreign direct investment (FDI) by 2015 to be invested in green field units in textiles machinery, fabric and garment manufacturing, as well as technical textiles.

India’s strong fundamentals like growing young population, rapid urbanization, rising disposal income, rapid and significant preference for fashionable apparel and a large retail sector are expected to boost the local and international market segments.

India has made inroads into the markets of its key competitors which include Asian countries such as Sri Lanka, Bangladesh, Vietnam and Cambodia. The Indian textile and apparel industry is taking a new course by entering the Chinese market. Most of the top global apparel retailers, such as JC Penny, Nautica, Docker and Target, have their sourcing network in India. Indian textiles and apparel exports, which is worth US$ 22 billion, is expected to register a four-fold increase to touch US$ 90 to 100 billion in the next 25 years.

Technical Textile Segment

Technical textiles segment is expected to employ over 300,000 additional workers increasing the total employment in the sector to 1.2 million by the year 2012. The Government has set up four Centres of Excellence (CoEs) for Meditech, Agrotech, Geotech and Protech group of technical textile, providing one-stop facilities for testing, human resource development and research and development.

Government Initiative                  

The Government has announced the release of a subsidy of US$ 533.87 million for the textile industry, under the Technology Upgradation Fund scheme (TUFs). The government extends 10 per cent capital subsidy and 5 per cent interest subsidy on installation of machineries and for processing machinery under the TUFS. A 41-member Working Group has also been announced to be set up with a National Fibre Policy, to ensure self-sufficiency in fibre consumption and export requirements in India.

 

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