Transcription of GRASIM INDUSTRIES LIMITED
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GRASIM INDUSTRIES LIMITED
GRASIM INDUSTRIES LIMITEDC M YKMr. Aditya BirlaWe live by his , Commitment, Passion, Seamlessness and CMYKG rasim INDUSTRIES LIMITED - Annual Report 2012-2013 THE CHAIRMAN S LETTER TO SHAREHOLDERSDear Shareholders,The global scenarioAcross the world in 2012, the economyremained a worry. Global GDP fell to to 4% in 2011. Many of the systemicvulnerabilities continued. Among these werefiscal fragility, hidden and unknown risks offinancial derivative instruments and theproblems of the weaker Eurozone increasing instances of political gridlockaggravated the these are not totally left behind, thereare strong positives. The unwinding offinancial leverage, several rounds of liquidityinjections, with Japan also joining in augur wellfor the global economy. Alongside, continuinglow interest rates, sharp corrections incommodity and energy prices, and a modestrecovery in the US housing market ring in adegree of optimism.
5 CMYK Grasim Industries Limited - Annual Report 2012-2013 THE CHAIRMAN’S LETTER TO SHAREHOLDERS Our entrepreneurial DNA also encourages risk taking which includes taking risks with people,
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