Chairman's Desk

The dramatic downturn witnessed by us in the year 2008-09 equally dramatically turned positive for the last accounting year. From the month of September, 2009 demand from our overseas customers started increasing quite substantially. At the same time due to the stimulus package from the Government of India, the Indian Auto Industry started experiencing a demand boom which is unprecedented. Every sector of the Auto industry from trucks to cars and motorcycles is witnessing rapid growth. We are therefore participating in this boom. It is our expectation that this trend will continue in the current year and if the monsoon is favorable should continue in the next fiscal also. We are now seeing a trend where the international firms have realized the benefits of indigenization of engines also. The faster this happens our growth story should continue.