LEADERSHIP MESSAGES
As the Chairperson of Keerthi Industries Limited, I am honored to share
insights into our company's performance this year. Representing a company with a
distinguished 42-year legacy, I take immense pride in our history of guality and
resilience which has earned the trust of our clients, employees, and shareholders. At
Keerthi Industries, we have established a reputation for excellence through our flagship
product, Suvarna Cement, and have made significant advancements in our electronics
division.
However, the past financial year has posed significant challenges for
us, resulting in a financial loss at year-end. While this outcome is undoubtedly
disheartening, it has also given us valuable insights and an opportunity to re-evaluate
our operational strategies and secure our foundation for future growth.
Current Challenges and Performance Review
The recent challenging market conditions have touched industries
everywhere, and Keerthi Industries has not been immune. The economic and political shifts
at our state level have particularly affected the construction sector, decreasing demand
for our cement products. The shortage of coal and associated price increases also affected
our profitability.
Due to market instability and lower construction activities in both
states of Telangana and Andhra the cement consumption has come down. In addition to this
cost of fuel has increased. Due to Effect of all these factors Cement sales fell down
bringing down the profitability.
Additionally, our electronics division has faced some demand drops as
our global clients sort out their COVID- 19-related inventory and supply chain
disruptions. Despite these challenges, we have persistently upheld our commitment to
guality and customer satisfaction.
Strategic Initiatives and Future Prospects
As we navigate through these challenging times, I want to assure you
that keerthi industries is steadfast in its commitment to emerging stronger and more
resilient. Our future prospects are rooted in several keys strategic initiatives:
Advancements in Cement Production
To modernize the plant on par with other modern cement plants, Vertical
Raw Mix grinding mill is installed and commissioned. The specific power consumption has
come down by 10 KWH/Ton of cement which is a remarkable cost saving effort. In addition to
this most of the plant operations are shifted to centralized control room with
sophisticated computerization. Quality of the product has improved because of this
modernization. Hence the cement guality is on par with modern major cement plants.
Growth in the Electronics Sector
The demand for bare PCBs is growing in India because of recent
"Make in India" efforts as well as the shift of global manufacturers to the
"China plus one" policy. We will strategically invest Rs. 2.78 crores on account
of SPECS Project over the next 2-3 years for modernizing existing machinery as well as
adding new capabilities to maintain our lead in flexible PCB manufacturing and to add
Rigid multi-layer capabilities
Continued focus on cost Management
The current financial setbacks of the past year have vindicated our
continuous focus on cost management measures and refining our operations. We will continue
our year-on-year improvements to become more efficient by streamlining processes and
minimizing waste. This focus on operational excellence will ensure we remain competitive
and financially healthy in the long run
Employee Growth and Welfare
Our employees are our greatest strength. We will remain committed to
providing a safe, nurturing work environment that emphasizes ongoing learning and
professional development. By investing in our team members, we ensure that we have a
highly skilled and enthusiastic workforce ready to drive our success in the future
Conclusion
In closing, I sincerely thank our shareholders for your steadfast
support and trust in Keerthi Industries. Despite the challenges we faced over the past
year, we are more determined than ever to transform these obstacles into opportunities and
secure a brighter future for our company. With a clear vision, strategic initiatives
underway, and the collective effort of our dedicated team, I am confident that Keerthi
Industries will overcome these challenges and achieve sustainable growth and
profitability.
Thank you for your continued belief in our journey. Together, we will
shape a prosperous future for Keerthi Industries Limited
| Warm regards, |
| Triveni Jasti |
| Chairperson & Whole Time Director |