“One should never depend on market alone to earn profits but earn the same by controlling the cost and enhancing productivity consistent with quality,” said Mr P.R. Ramasubrahmaneya Rajha, Chairman, Rajapalayam Mills Ltd, here on Friday.

Delivering the welcome address at platinum jubilee celebrations of the company, he expressed confidence that the spinning industry would overcome the crisis soon. He said the company has an unbroken record of dividend payments to shareholders and has never failed to pay interest and principal on time to bankers. Tracing the growth of the company over the 75 years, he noted that the company has been following the dictate of the founder, late Mr P.A.C.Ramasamy Raja, that a contended worker would give to the employer better work and, therefore, better profits.

Mr Sanjay Jayavarthanavelu, Managing Director, Lakshmi Machine Works Ltd., Coimbatore, who presided over the function, said that adoption of innovative ideas separated winners fromlosers and appreciated the management for constantly working towards the same,He also praised the company's contribution towards health, welfare and culture through its corporate social responsibility activities.

Mr Morinobu Obata, Senior Vice-President, Textile Division, Mitsubishi Corporation, Japan, who was the chief guest, said that quality was the bond that held the two companies together and referred to the timely help by the company during the recent tsunami and assured to work with the group in the future endeavours.

Others who spoke at the function included Mr.Katsuhiko Yanagawa, General Manager, Mitsubishi Corporation, Kansai branch, Mr J.Thulasidharan, Chairman, South India Mills' Association, Coimbatore, Mr.Dhiren N.Sheth, Director, CA Galiakotwala and Co., Dr Rakesh Mittal, CEO, Oswal Group and Mr.Peter Stahlecker, Joint Managing Director, Spindelfabrik Suessen, Germany.

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