Annual Report FY 2009-10 - Welspun

C rp LtdFinancial ScorecardAn exceptional year against all odds where our revenue increased by 28% but more importantly EBITDAbecame almost twice and significantly net profit almost three times with respect to last year, a mirrorreflection of our profitable growth.Human CapitalI take this opportunity to compliment our human resources who withstood the difficult times and all our extraordinaryresults had not been possible without this hardworking and dedicated team. To strengthen ourmanagement, we have inducted a new CEO, Mr. Lauri Antero Malkki. This is another step to make ourmanagement band much more wider and ready to transcend our Company to the next level.Our new lookAll the above would have been incomplete without my mention of 'CHANGE', the theme of this Annual Report.To reflect our multitude businesses, our magnitude of operations across multiple locations, we adopted a newname and a new logo. As someone rightly said, “Only change is constant”, I believe this new identity will reflectour new positioning in the global arena.Friends, finally my sincere thanks to all the stakeholders for trusting us and for their earnest support whichenabled us to achieve so much in such a short period of time.We promise to make Welspun Corp one of the most respected Companies in the World! And for that, I humblysolicit your continued support and well wishes.“Welspun has beenmetamorphosingitself from a smallPipe Company in1997 to a full serviceGlobal Company in2010.”Yours sincerely,B. K. GoenkaChairman & Managing Director7