Dear Shareholders
It gives me great pleasures to present to you your Company's Annual Report for FY
2016-17 . Your Company performed well during 2016-17 with steady growth in its revenues
and profitability.
Since independence, the year 2016-17 will be remembered for many significant steps
being under taken by the Government of India not taken before which will provide the
platform for rapid progress of the economy of our country. Now, our system is moving
towards simplicity of dealing with various acts and regulators with transparency and
clarity to national as well international concerns and bodies. Now, India has second
largest Quality Companies after China in most Emerging Markets.
Demonetization may be remembered for a few years , but GST will be remembered for ever.
Millions of un-organized business people will register for GST and start paying taxes for
the first time. The second smartest decision by this government has to be accepting
Aadhaar as the platform for a new India and will not only make a digital India possible
through e-KYC , e-signature and e-payments and it will also put a brake on those who were
till now sucking the resources which were actually meant for the government and the poor.
I am pleased to share with you that once again , we have augmented our presence in NBFC
business and now the first time our Networth has crossed 200 Lacs in F.Y. 2016-17.
As far as the performance of your Company is concerned it's reported the total income
for the financial year 2016-17 of Rs. 95.34 lacs as against Rs. 64.69 lacs during the
previous financial year. The profit before tax is Rs. 88.00 lacs and profit after tax is
Rs. 87.20 lacs for the year under review against the profit before tax of Rs.52.09 lacs
and profit after tax of Rs.51.98 lacs for the previous financial year respectively.
I also express my thanks to all our directors for their invaluable contribution through
their guidance and encouragement , which have been critical for the success of the Company
, Finally I thank each and every Shareholders , large and small , for your confidence in
us.
With your continued support and trust , we look forward to growing your company and
contributing to the economic progress that our country is set to achieve.
With Best Wishes
Sangeeta Ketan Shah
( Chairman)