Dear Shareholders,
It gives me immense pleasure to share with you the 41“ Annual Report. This is
indeed a momentous phase in the growth of your Company and I feel privileged to have led
Neil Industries Limited as Managing Director one more time in Financial Year 2023-24. The
year gone by was all about waving goodbye to the pandemic and getting back to the track of
progress, rebuilding and consolidation. NBFCs have been at the forefront of financial
inclusion in India, lending to underserved, uncovered and deepening access to formal
credit which has helped in inclusive economic growth of our Country. We at NEIL take
immense pride in being one such institution that is at the vanguard of providing quick and
easy credit access to MSMEs as well as other sectors. The easy availability of credit will
enable these enterprises to grow in their line of business which will ultimately lead to
the overall growth of the economy. Being an NBFC which is an integral part of India's
financial system, our Company acts as a critical link in the overall financial system
catering to a large market. It's a proven fact that NBFC's have emerged as lenders to both
companies and individuals.
When it comes to lending, NBFCs are generally regarded to be complementary to banks and
are often able to offer better range of products and services to their customers. Our
Company's performance in the year under review, by all measures, is remarkable. There has
been incredible increase in the Net profit of our Company for the financial year ended
March 31, 2024 as compared to the previous financial year in which, Although, in this
reporting year, your Company booked Net profit of Rs. 251.19 Lakhs. I would like to take
this opportunity to thank all our employees for their sustained contribution. Further, I
would like to express my heartfelt gratitude to all the esteemed Board members for their
exceptional guidance and efforts. I would also like to thank our shareholders, bankers and
RBI for their continued support to our Company over the past years. We will strive to
strengthen our core and deliver strong value to all our stakeholders. Once again I thank
you all for the confidence you have reposed in the Company and I pray that may The
Almighty aids us in all our future endeavours.
| Warm Wishes, |
| Sd/- |
| Arvind Kumar Mittal |
| (Managing Director) |