Confidence Futuristic Energetech Ltd

Dear Stakeholders,

It is with great pleasure that I welcome you to the FY 2023-24 Annual General Meeting of Confidence Futuristic Energetech Limited. This year has been one of remarkable achievements and formidable challenges as we navigate the ever-evolving dynamics of the energy sector, both in India and globally.

The global economy in 2023-2024 has experienced significant volatility. Rising inflation, geopolitical tensions, and persistent disruptions in supply chains have created an environment of uncertainty. However, amidst these challenges, certain sectors, particularly those aligned with sustainable energy solutions, have demonstrated remarkable resilience. As nations across the globe accelerate their shift towards low-carbon energy sources, companies like ours, which prioritize innovation and sustainability, are uniquely positioned to lead and succeed in this transformative landscape.

In India, the energy sector is undergoing a profound transformation. The government's commitment to expanding the City Gas Distribution (CGD) network and its focus on promoting cleaner energy options, such as Compressed Natural Gas (CNG), have created a robust platform for growth in the CNG industry. The ambitious plan to establish 10,000 CNG stations nationwide presents significant opportunities for our company. Additionally, the increasing emphasis on green hydrogen as a clean energy source is opening new avenues for innovation and investment, positioning us well for future growth.

The financial year 2023-2024 has been a period of mixed outcomes for us. Despite the global economic uncertainties, we have delivered a resilient performance. We made significant progress in our core business areas, particularly in the CNG cylinder manufacturing segment, where demand continues to rise, driven by India's commitment to reducing carbon emissions and promoting cleaner energy sources. However, we faced certain headwinds, including fluctuating raw material prices and volatility in global markets, which impacted our margins. Nevertheless, our unwavering commitment to operational excellence and strategic investments has enabled us to sustain growth and deliver value to our stakeholders.

A cornerstone of our strategic initiatives this year is the upcoming establishment of a state-of-the-art Type-4 high-pressure cylinder manufacturing facility at Butibori, Nagpur. This facility represents a significant leap forward for our operations, enhancing our production capacity to meet the growing demand for high-pressure cylinders from various sectors, including automotive, industrial, am emerging green hydrogen energy markets.

This advanced manufacturing facility will be developed under our subsidiary Silversky Exim Pvt. Ltd marks a significant expansion of our capabilities. Type-4 cylinders, constructed from advancei composite materials, offer superior advantages—they are lighter, more efficient, and safer thai traditional metal cylinders. These cylinders will play a pivotal role in supporting the burgeoning greei hydrogen economy, a sector poised for rapid growth as the world transitions to cleaner energ sources.

In addition to expanding our production capabilities, we are actively pursuing new busines opportunities with Original Equipment Manufacturers (OEMs) and City Gas Distribution (CGD companies. Our focus is on securing large-scale orders that will fuel our growth in the coming years By forging long-term partnerships, we aim to solidify our position as a leading supplier in the high pressure cylinder market.

Looking ahead, our strategy is clear: we will continue to invest in cutting-edge technology, expand ou product offerings, and strengthen our market position. The upcoming establishment of our new manufacturing facility in Butibori and our entry into the green hydrogen cylinder market are clea testaments to our commitment to innovation and sustainability. We are confident that thes initiatives will drive long-term value for our shareholders and ensure that Confidence Futuristi Energetech Limited remains at the forefront of the energy sector.

In conclusion, I extend my deepest gratitude to our employees, customers, partners, and shareholder for their unwavering support and trust. Together, we will continue to build a resilient and future ready organization.

Thank you