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The year 2010-11 was our best ever.We crossed `10 billion turnover milestone, our revenue grew 29% and bottomline jumped 69%. Returns on investment in the business strengthened ROCE grew 600 bps and ROE climbed 905 bps.
Our positive performance divergence resulted from the following factors:
Sales growth: Sales volumes increased by 18% from 25.28 MSM in 2009-10 to 29.71 MSM in 2010-11. What is heartening is that we strengthened our average realisation per sq. m we sold more large-format ceramic and vitrified tiles.
Value-addition:We increased the share of value-added tiles in our product mix from about 43% in 2009-10 to 52% in 2010-11, strengthening profitability.
Chairman & Managing Director