Dear Shareholders
I am addressing you all at a time when the nation has been impacted by the second wave
of the corona virus. The Second Wave has resulted in months of closure of markets, The
second wave has lead to wide spread distress and loss of life. Today more than ever, the
business environment is undergoing rapid change. Volatility and uncertainty have become a
norm.
The financial year 2020 -2021 witnessed a lot of unexpected situations and
circumstances caused by Covid-19 pandemic. It has affected business and the way it is
conducted, as well as the way we live our normal lives.
All efforts are being made by your management to ensure sustainability of the changes
and ensure progress to growth. To this end, your Company has successfully reduced its
fixed expenses amid growth in these trying and difficult times.
As we pass through a crisis of unprecedented magnitude, I would thank other stake
holders in the company, customers, employees, bankers and suppliers.
| Pranav Kumar Ranade |
| Chairman |