SRS Group's annual turnover touches Rs.3500 crore mark

SRS Group, one of India's leading conglomerates with business interests in retail & FMCG, real estate, multiplex cinemas, jewellery, hotel and food & beverages etc. has announced that its various businesses have grown to a size where its annual turnover has touched the Rs.3500 crore mark. SRS Goup's flagship company, SRS Limited (listed on BSE & NSE) recently held its 1st Annual General Meeting after the successful IPO of Rs.203 crore. In keeping with the robust performance of SRS Ltd., the Board of Directors of the company has decided to pay a dividend of Re.1 per share to the company's shareholders. According to the plans announced by the group Chairman, Dr. Anil Jindal at the AGM, SRS Group is targetting Rs.5000 crore mark as its annual turnover for the year 2012-13.

In his speech, Dr. Anil Jindal, Chairman, SRS Group, said "SRS Ltd. did quite well in the year 2011-12 and we have reported rise in profits amidst the challenging business environment in the country. I thank all our shareholders for their support and the trust they have put in us and would like to reiterate that we are committed to the growth of the company and aim to post even better results next year. We are strongly focussing on taking our business to higher levels of operational excellence and growth."

SRS Ltd. has been rapidly expanding its footprints across the various verticals it operates in. Over the last few months, it has launched a new multiplex at Ludhiana taking the overall tally of its screens to 33 across 12 properties in 7 cities. SRS Limited's Jewellery business gathered strength with the launch of 2 new premium stores at Ghaziabad & Faridabad and wholesale outlets in Mumbai and Ahmedabad. The Retail operations saw more stores opening up at premium locations in Gurgaon, Faridabad and Noida. With all these additions, the company now owns 1,65,000 sq. feet of total retail space.

Leveraging its expertise in the hospitality sector, the SRS Group recently took over the managerial control of SRS Lakshya, a 4 star hotel property in the holy city of Haridwar with 78 premium category rooms. In addition to the expanding reach, brand building got special attention with the Company investing significantly in such efforts to enhance its visibility, appeal and loyalty.

"In the current financial year, the Company will follow a very sharp business strategy that is in line with the Company's higher scale, status and ambitions. There are three pillars to this - one is to nurture the brand SRS to make it even more trusted, preferred and vibrant. Second is to focus strongly on our consumers and deliver a fabulous experience on a sustained basis across each of our business vertical. The third is to look at expansion with a very careful eye to reach out to areas that offer a good catchment, have optimal overheads and are not in a demand over supply scenario. This is the clear endeavour of your Company's management, and is bound to yield fruitful results", added Dr. Jindal.

Source : Equity Bulls

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