Dear Shareholders,
I feel extremely happy in presenting the Annual Report of the Company
for fiscal 2022.
The operations and the net profit have to be viewed in the global
slowdown of economic activity and the pandemic. The GDP growth of India according to the
quick estimates has been pitched at 8.7 percent for the year 2021-22. But for the last
quarter of the financial year where the GDP growth was only 4.1 percent, the economy would
have performed much better exceeding 9 percent which was earlier estimated.
During the Russia-Ukraine war, and even otherwise, India's prestige has
soared remarkably. Leaders of the major countries of the world have been seeking our Prime
Minister's effective intervention on the Global stage. Quadrilateral Security Dialogue
('QUAD') and BRICS are the examples.
In conclusion, I would commend the tireless efforts made by the
management under the dynamic leadership of Shri Riyaz Ganji, Whole-time Director. I would
also like to place on record the sincere efforts of the Board members. Finally, my
gratitude to the shareholders without whom the Company has little meaning.
I see India gaining in stature in the coming decades. By 2047, hundred
years after independence, India should be among the top three countries in the world,
economically, militarily, socially, politically and technology wise. Our Company will rise
even higher as the years go by.
Thank you and Jai Hind.
Nishant Mahimtura Chairman