Dear Shareholders,
I trust this letter finds you in the best of health and spirits.
In FY 2024, your Company has continued on its path to deliver steady performances. I am
delighted to share with you that your company has crossed consolidated annual revenues of
'511 crore with a record PBT figure in excess of '110 crore. These numbers are a testament
to the hard work and dedication of our team members across the globe who strive harder
with each passing day to improve our offering be it in terms of product or service.
We embarked upon a challenging yet crucial project during the course of the year, which
was to upgrade our ERP system with a view to further streamline our operational efficiency
along with improved data analytics capabilities. As with any company-wide project of this
scale, there were several obstacles that had to be overcome but I would like to express my
heartfelt gratitude to the members of the cross-functional team who worked tirelessly to
deliver this project. I am pleased to confirm that the system is now up and running with
complete functionality as had been envisaged by us.
As we look forward to the new FY, we still continue to grapple with certain overhanging
factors such as geopolitical tensions, high borrowing costs and cooling off of pent-up
demand. Whilst we certainly take cognizance of these issues, we continue to view them as
opportunities rather than threats. We have been building our capabilities be it in terms
of production capacity or financial resources so as to seize any potential opportunities
that may arise in order to fuel our growth.
We remain bullish on the growth prospects for your Company both on the domestic as well
as the export front and are confident that we can continue on our upward trajectory.
On behalf of the Board of Directors of the company, I want to thank you for your
continued trust, confidence and support.
Yours Sincerely,
Amarpal Sethi