MD‘s Speech

Dear Shareholders, Potential joint venture partners, Investors, Bankers, Government Agencies, Employees and all other associated with AML Steel Ltd.,

We have seen demand for steel increasing day by day world over especially in India where middle income group on the rise for quite some time. Therefore, we have identified steel as our prime focus area and therefore our growth shall always come from steel by expansion either through new units or acquisitions. We are not quite averse to go overseas for setting up our business units within steel sector, if we could add value in whichever country the opportunity arises.

Given the scenario that steel is a cyclical industry and given the fact that steel sector is buoyant now it is only right that we make right moves with great speed and efficiency.

In order to produce world-class products we shall constantly upgrade our technology so that both our process and products conform to world-class quality standards. We shall benchmark ourselves to the best in the world and we shall work towards obtaining world- class certification quite soon.

We consider human resources are the best resources and therefore we shall adopt a very humane approach to all our employees. Needless to mention that we shall always work towards maximizing returns for our shareholders without overlooking the interests of our bankers, government agencies and society at large.