Chairman Speak

Dear Friends,
Welcome to this congregation of the family.As the head of the family of several thousand stakelholdersit gives me great pleasure to apprise you with what has been a ver y eventful year gone by.

Post my passing out from IIT Rourkee, when I started this company after two decades of work experience across several nations 27 years ago we had in 70 employees small office in Ghaziabad we were eager to grow our turnover of Rs.2.87 Cr today. after 27 year turnover has grown 500 times and employee strength roughly 2000+ The eagerness remains as we feel that journey has just started and our capabilities tell us we have a long successful road ahead .We are often told that the challenges are plenty but we say the possibilities are infinite. We are also told that the name Good Luck Steel Tubes Ltd does not truly reflect our nine product lines which find buyers across several Industries including power, automobiles, oil and gas and telecom.

Globally the economy saw many headwind. and India mirrored it to say but the least . In fact we felt the heat more confronted with our domestic challenges . The "I" factor - Inflation, Interest Rates ,Indecision on policy and Instability on governance hurt the producer and consumer like never before . Everything fell - demand , growth , sentiment and thus outlook. Supply side inflation pushed up Input oats and poor demand disallowed passing this increment to the consumer . We had two choices to sacrifice pr ato. or sacrifice sales. We strategically chose the latter to widen our ustomer base and overall growth and took a marginal hit on we bottomline . We are confident this move will pay handsome dividends once growth picks up and our loyal ustomers will appreciate how we supported them In trying times. Value addition and cost reduction is our focus.

On the external front the rupee depreciated to regular new lows hitting imports and pushing inflation. Its volatility made pricing for exporters, like ourselves a nightmare Hedging and lures management became even more critical than R&D. It took away sonic of our profits but left behind lots of lessons. I say with great pride that despite all odds we managed to stay afloat and it r well equipped to handle any such volatility in the future.