Dear Shareholders,
Good Morning,
I welcome you all on behalf of the members of the Board to the 60th
Annual General Meeting of the Company for the financial year 2022-23. In pursuance of
guidelines of the Ministry of Corporate Affairs, this Annual General Meeting of the
Company is being held through virtual mode.
A copy of the Annual General Report containing Board's Report and the
Audited Accounts for the year ended 31st March, 2023, together with Auditors'
Report, Comments of C&AG, Management's reply thereto and Directors' Report along with
Management discussions and analysis has already been circulated and with your permission,
I take them as 'read'.
The Company is not carrying business activities as directed. In the
year 202223, your Company had a turnover of Rs. 271.77 Crore with a profit of Rs. 1076.07
Crore. This profit is attributed to the disinvestment of M/s. NINL Ltd. under the aegis of
DIPAM, Government of India.
I would like to express sincere thanks and gratitude to our valued
members of the Board for their guidance, our esteemed shareholders for their support and
trust in the company, various Ministries of Government of India, particularly the
Department of Commerce, Ministry of Commerce & Industry for their valuable guidance
and support in all our endeavors and our employees for their engagement and perseverance.
Hardeep Singh
Chairman and Managing Director (Addl. Charge)