Dear Shareholders,
As I write to you, life and lifestyles across the world are undergoing
a radical change. The coronavirus pandemic hasn't ended yet, these are difficult
times and we must prepare to embrace the radical changes in our lives and the way we work.
The impact of COVID-19 pandemic on both the global and domestic
economies has been unprecedented and largely disruptive. The overall business environment
remained muted with demand slackening in almost all sectors. Financial markets also went
through extreme volatility owing to stringent lockdowns. However, the second half of the
year saw a quicker and remarkable recovery due to unlocking of restrictions, pick-up in
economic activity, favorable government reforms, and mass disbursement of vaccines to halt
the spread of the virus. Financial markets soared to all-time highs, reflecting
improvement in investor sentiment.
As the pandemic spread, our topmost priority was to ensure the safety
of our employees and facilitating uninterrupted services and support to our customers. Our
technology team played a vital role in providing adequate systems to employees so that
they can operate smoothly out of the safety of their homes. We provided remote working
technology and protocols, used video calling and virtual meeting platforms to keep our
operations running. During the lockdown, our technology platform worked successfully and
facilitated in servicing our customers efficiently.
In the past two decades of its existence the company has grown leaps
and bounds due to its commitment to adherence to quality standards and innovative measures
taken by the promoters of the company towards its relentless growth. The company is lead
by a team of young technocrats who have sound knowledge of Process, and Application of the
products and are ready to adapt new technologies with the changing needs of the market.
Viewed from a financial lens, Your Company's revenue for the year
stood at Rs. 25788 Lakh as against Rs. 17021 Lakh in the previous year and has earned
profit after tax of Rs.900 Lakh compared to Rs. 629 Lakh last year. Thus registered a
growth in turnover by 51.50 % and in profits by 43.08%.
I am confident that Geekay Wires Limited, with its excellent clients,
committed associates and strong and stable staff will continue to deliver significant
value to all its stakeholders in the years to come and will achieve our dreams. I am also
confident of creating sustained value for all our stakeholders as we progressively step
into F.Y. 2022-23. I would like to thank all our Shareholders, Investors, Employees,
Clients, and all Other Stakeholders who have always stood by us.
I look forward to your support and encouragement in making your company
the Leader in the Iron and Steel space.
Yours Sincerely,
Ghanshyam Dass
Chairman & Managing Director