Dear Shareholders,
It is our privilege to write to you and present the Annual Report for FY21.
These are challenging times, and I hope you and all other members of your family are
safe and in good health.
India's diamond and jeweler's industry witnessed one of its most challenging years
during FY 21 with declining sales figures vis-a-vis the previous few years owing to weak
domestic demand and falling exports.
We would like to assure the shareholders that your Company has taken every step to
ensure safety of the employees and the community. We have established world-class safety
measures and preventive protocols at all locations. We are taking employees health and
safety as the number one priority during the lockdown, unlock and ramp up period.
The world and certainly India has seen significant change - various lockdowns and
unlocks continued due to the COVID-19 pandemic. However, slowly but surely, we are trying
to come back to what would be the new normal. The impact that this pandemic has had on our
lives and livelihoods - right from reduction in GDP to employment uncertainties to supply
chain disruptions - would take significant time to undo.
Our performance- We recorded revenues of Rs. 57,540.04 lakhs and EBITDA of Rs. 1523.72
Lakhs during the FY 21.
Significant cost control measures, focus on exports helped the Company to improve the
operating EBITDA margin during the year under review in spite of lockdown.
We express our sincere thanks to all our Customers, Suppliers, Shareholders, Employees,
Bankers and Auditors for their continued support in these difficult times.
Mr. Deepak Suthar
Company & Compliance Officer