The Board of Directors of Zenith Birla (India) Limited, the flagship company of the Yash Birla Group, India's leading manufacturer of ERW welded steel pipes and HSS cutting tools, approved the unaudited Financial Results for the second quarter ended September 30, 2008.
The financial highlights in comparison to corresponding period are as given below:
Commenting on the occasion, Mr. M.S.Arora, CEO & Executive Director of Zenith Birla (India) Ltd. stated:
"Zenith has continued its stellar performance and heartwarming results despite tough times. This quarter began with the challenges of runaway steel prices, high interest rates and skyrocketing energy costs but subsequently, we got a slight reprieve with the cooling down of raw material prices. However, the times only got more interesting with a virtual mauling of the global economy in the aftermath of the sub-prime crisis and carnage of financial and commodity markets.
A strategic planning of the order book position, focusing on exports to capitalize on the weakening rupee against the US dollar, strengthening closer partnership ties with key customers and suppliers and implementing strict cost control measures to keep operational costs on an even keel helped us weather all storms and meet all challenges to deliver a whopping growth in the topline of the company in an economic environment riddled with uncertainty and adversity that could only have been trying for many.
Today we have reached a point of inflexion from where we have only one way to go - to reach the zenith of financial success by strengthening the solid foundation we have painstakingly built and become the leading player in our industry."
