1. The Board of Directors has recommended final dividend for the financial year ended 31 March 2016 @ Rs. 0.25/- per share i.e. 2.5% at its meeting held on 15 May 2016. It is pertinent to mention that the Board of Directors of the Company had declared interim dividend @ Rs. 0.75/- per share at its meeting held on 28 December 2015. The total dividend for the financial year 2015-16 will be Re. 1.00/- per share.

2. M/s. P. D. Saraf & Co., Chartered Accountants, Mumbai were appointed as the Statutory auditors of the Company for a period of five years from financial year 2016-17.Their appointment is subject to approval of the members of the Company at the 9th Annual General Meeting.

3. The Board of Directors of the Company authorized the Managing Director of the Company to set up at appropriate time one or more wholly owned subsidiaries / joint venture abroad, subject to necessary regulatory approval(s).