Kore Digital Ltd

"We continue to invest in building Sustainable Telecom Infrastructure, backed by enhanced focus on empowering our people, protecting planet and process innovation, supported by our growing digital outreach."

DEAR SHAREHOLDERS,

I am happy to welcome you all to the 14^th Annual General Meeting of your company. On behalf of the Board of Directors of Kore Digital Limited, I thank you and welcome for joining us today. Your presence here is a testimony to your interest and support to the company.

Despite a challenging economy, during the financial year 2022-23, the Company recorded satisfactory performance by achieving total Revenue of Rs 2127.45 (lakhs) and PAT of Rs 322.18 (lakhs). The Company implemented several initiatives encompassing cost management, supply chain optimization, smart procurement, productivity improvement which helped in absorbing escalation in input costs, product development etc.

Your Company has maintained its leadership position in the high-end service segment and will continues to consolidate its preferred supplier status amongst leading end-use customers. Further, your Company remains confident of fortifying its market standing in telecom Industry by leveraging its superior qualities, execution excellence, investments in technology and which will gear us for getting a future ready need of industry. Your Company is continuously focusing on improving operating efficiencies and reducing production cost for better financial performance.

Considering company's growing market share, brand image, long standing relationships and goodwill with its distributors, agents and customers, suppliers and other stake holders, the business operations of the company are expected to report better performance in the coming year.

Company's philosophy is to achieve long- term value to serve the best interest of all stakeholder- shareholders, customers, employees, Government, and the society.

I wish to thank my colleagues on the Board and team of Kore Digital Limited for responding positively to an unprecedented challenge and most of all, I thank our shareholders for the confidence and faith reposed by them in the Board and the Management team, which has in my view geared up to take on more challenges. I can say this with confidence that the Company will improve its performance further in the coming years. This is however only possible through tireless efforts; dedication and commitment of our team who have helped us reach where we are now and look forward to their continued commitment in the journey forward.

PERFORMANCE

Total Revenue from operations for the year has been increased to Rs 2127.45 (lakhs) from Rs 1694.45 (lakhs) to the corresponding year. In the Financial Year, 2022-2023 profit after tax of Rs 322.18 (lakhs) as compared to Rs 217.97 (lakhs) for Financial Year 2021-2022. Despite of inflation in India during the period and growing competition in Telecom sector, we could achieve an upward movement in overall sales volume as compared to the previous financial year, we also able to meet profit target by implementing various business strategies. The cost of raw materials has increased over period and we are working in best possible way to remain competitive in the market, we are continuously making efforts to improve the operational efficiency and increase the overall productivity.

ACKNOWLEDGEMENTS

I extend my sincere thanks for assistance, believe, confidence cooperation and support which we have received from the customers, suppliers, bankers, financial institutions, auditors, state and central government, regulators, advisors' community, and society. I also acknowledge and appreciate our directors and all stakeholders for their continuous belief and support.

WARM REGARDS

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DIN: 02494055