Kesoram was founded in 1919 under the name of Kesoram Cotton Mills Ltd. From its humble beginnings as a cotton textile mill in Calcutta, Kesoram expanded into the production of rayon. Its first rayon plant was built in 1959, with a production capacity of 4,635 metric tons of rayon yarn per year.
The spirit of entrepreneurship did not end there. Kesoram soon entered the tyres and cement industries. A change of name was needed to reflect the companyâ€™s increasing portfolio of businesses. So in 1986, it changed its name to Kesoram Industries Limited.
Since then, Kesoramâ€™s operations have grown from strength to strength. Its reputation is recognised today by its listings on four global stock exchanges â€“ National Stock Exchange of India, Bombay Stock Exchange, Calcutta Stock Exchange Association, and the Societe de la Bourse de Luxembourg.
advanced economies, including, inexplicably, the United States. This gives rise to some concern. More so, because the US economy seems to be on a recovery mode.
Against the above difficult background, the Indian economy, I am pleased to state, is well poised. The "Make in India" theme is an excellent model. Several bold measures undertaken by the Central Government during the last Financial Year, including the proposed implementation of the Goods and Service Tax, will be beneficial for the economy as one goes along. However, in a world economy punctuated with so many growth fault lines, the country would need to aggressively reinforce niches for itself in the world market.
We, at Kesoram Industries Limited, spent considerable time in the past year enhancing directional clarity in our businesses through prioritising and re-emphasising the goal of business sustainability.
To this end, I must compliment the Tyre Business on its endeavours at realigning manufacturing capabilities in a situation arising out of our disposal of the Laksar tyre manufacturing facility during the year. The Cement Business faced intense competitive pressures with conviction. The Rayon Business which was spun off as a wholly-owned subsidiary during the year has tasted some success in developing products for discerning customers. This should stand the Business in good stead in the future.
I thank you all for the faith reposed in the Company. I value your continued support.
Basant Kumar Birla