#CSStart#
<dhhead>CHAIRMAN'S MESSAGE</dhhead>
Dear Stakeholders,
I am honored to address you through this Chairman's Message as we
present our annual report for the year 2023-24. It is with great pride and gratitude that
I reflect upon the achievements, challenges, and progress we have made together as a
company.
Flexituff has always been committed to excellence, innovation, and
sustainable growth, and the past year has been no exception. Despite the uncertainties and
disruptions that marked this period, we remained resilient and adaptive, leveraging our
strengths to navigate the changing landscape and emerge stronger than ever.
On the brighter side, having registered the highest GDP growth rate
among major economies, India has proved its strong position as against other major
economies. Even if the global headwinds are posing short term threats, India with its
strong macroeconomic fundamentals is poised to sustain in the long term. Policies like the
production linked incentives, Make in India as well as the government's thrust on
infrastructure expansion will produce a strong multiplier effect on jobs and higher
productivity, all of which will boost the economy.
During the year under review, the Company's performance was quite not
satisfactory in comparison to previous year. Total revenue on a standalone basis for the
FY 2023-24 stands at Rs. 6064.31 Millions in comparison of previous year which was Rs.
9,294.74 Millions. The financial challenges in the current scenario, the Company is making
its best possible efforts to overcome the challenges with a positive note.
Employee Engagement and Development:
Our employees are the backbone of our organization, and their
dedication and expertise have been instrumental in our success. We prioritize their
well-being, growth, and development, providing a nurturing and inclusive work environment
that fosters innovation and collaboration. We have continued to invest in training and
development programs, ensuring that our team members stay ahead in a rapidly evolving
marketplace. Our employees' resilience, adaptability, and commitment have been pivotal in
overcoming challenges and achieving our objectives.
As we look to the future, we remain optimistic about the opportunities
and challenges that lie ahead. We are cognizant of the rapidly evolving business landscape
and will continue to adapt and innovate to meet the needs of our customers. Our strategic
roadmap encompasses new market expansions, digital transformations, and further
investments in research and development. By leveraging our core competencies and exploring
emerging technologies, we are poised to capture new growth avenues and create long-term
value for our stakeholder
In conclusion I am confident of our growth potential and business
opportunities that each of our segments exhibit. As the domestic and international
operating environment improves gradually I am optimistic of a healthy performance. This is
possible due to our investments in world-class infrastructure, competent resources,
superior R&D capabilities and a strong adherence to safety protocols which is a
cornerstone of our sustainability endeavours. I am also confident of creating sustained
value for all our stakeholders as we progressively step into FY 2024-25.
On this note, would like to express my sincere gratitude to all our
stakeholders including shareholders, bankers and for their unwavering support, our valued
vendors for their trust and partnership, and our dedicated employees for their exceptional
contributions. Together, we will continue to chart a path of success and shape a brighter
future for Flexituff Ventures International Limited.
Stay Safe and Healthy!!
With Regards, Anirudh Chittaranjan Sonpal