Dear Shareholders,
It gives me immense pleasure to present before you your Companys Annual Report for the
Financial Year 2022-23
Financial Year 2022-23 was an year of stupendous growth and success for you company.
Our efforts of diversification have started yielding results. During the year 2022-23,
your Company continued to play on its strengths and posted a magnificent financial
performance.
The foundation of Alphalogic was laid with the motto of 'Making Software Simple'. The
continuous service developments and adoption of latest technologies has helped your
company to grow and expand its business.
We firmly believe that a company can remain sustainable when they are lean and agile.
We have been lean, quick and agile in our decision making and have been making significant
efforts to diversify the business activities of the Company to reach a greater customer
base in the coming years.
I am delighted to share that, Alphalogic Industries Limited, the subsidiary company of
your company, is now been listed and trading on the BSE SME Platform since July 14, 2023
after making a public issue of 13,41,600 equity shares and raising Rs. 1287.94/- Lacs. The
public issue received an overwhelming response from the investors reposing the trust and
faith of Investors in the Alphalogic Group.
Green and Clean Energy is the need of the day. Our country has pledged to achieve
net-zero carbon emissions by 2070. In order to be part of India's commitment towards
adopting alternative energy and green fuel, your company is venturing into manufacturing
of fuel grade bio-ethanol from broken rice and damaged food grains. This project will be
part of India's Ethanol blending programme (EBP). This project will help your company
contribute to a cleaner and greener India.
Your company is setting up a grain based distillery with a capacity to produce 150,000
litres per day Fuel grade Bio-Ethanol along with by-products like dried distillers grain
solubles (DDGS) and CO2 along with a 3.3 MW Co-generation power plant. The company aims to
set up the distillery plant in MIDC Tadali, in Chandrapur district of Maharashtra and has
received all major statutory approvals to start the construction of the plant. Your
company is investing about 160.00 Crores to set up this project and I am confident that
this project would prove to be game changing for your company.
We cherish the long-lasting and time-tested relationships with our customers,
employees, regulators, business partners, government, lenders and other stakeholders. In
conclusion, I would like to thank our stakeholders for their continued faith in our
abilities and their constant support. We will continue to create long-term, sustainable
value for all by being consistent and flexible and I look forward to an exciting journey
ahead, together.
Anshu Goel
Managing Director