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|During the year also the real estate sector was the mainly effected sector in the global meltdown. The Company suffered losses despite the company adopting a very cautious approach towards the real estate sector. The general economic conditions have already started showing signs of recovery, specially in the fertilizer sector where the increasing demand from farmers and change in the Govt. policy have made this sector quite attractive. Your company is trying to explore the possibility of setting up a manufacturing facility in a country where the raw material for the manufacture of Phosphoric Fertilizer is available. The demand for the phosphoric fertilizers in the country has seen an increasing pattern over the last five years and India is net importer of phosphoric fertilizer. The past experience of your company proves that the manufacturing facility for the Phosphoric Fertilizer must remain close to the source of the raw material.
The management is sure that it will be able to sign up an understanding with the Govt. of Syria to set up a manufacturing facility of phosphoric fertilizer at Syria, which will enhance the profitability of the company drastically.