The Company generates the financial capital annually in the form of surplus arising from the current business operations, financing activities through periodical strategic restructuring of debts aligned with the market conditions to minimise the interest cost and investing activities through monetisation of assets and investments.
Funds generated are utilised for operation of the business i.e., purchase of raw materials, finished, semi-finished and other products, employee benefit expenses, finance cost, operation and maintenance, Government levies, dividend and funding growth and strategic investments.
During the year, the global growth and financial market conditions were challenging. Many large emerging market economies were stressed owing to difficult macroeconomic conditions, sharp decline in commodity prices, volatile capital flows, uncertainties and risks of instability of the financial system. We were also impacted with drop in steel prices due to demand-supply imbalance.
Detailed discussion on our financial and operational performance for FY16 is available in the Directors' Report and Management Discussion and Analysis.