Dear Fellow Shareholders,
It is my duty to share with you, the key points of the performance of your Company. On
the Standalone basis, during the F.Y. under review, your Company's Gross Revenue from,
operations stood at INR 14,444,93 lakh as compared to INR 33,714.3! lakh in the previous
year. The Net. Profit of the Company .stood at INR 660.82 lakh against INR 1700.85 lakh
reported in the previous year.
The reduced turnover of the Company is due to ambiguity of tax rates applicable to
Engineering procurement & construction (EPC) Contacts for Solar Power plants under GST
Act, many retrospective changes in charges of Open Access, change in Net metering laws in
Rooftop projects and many more,
Our clients are our most important stakeholders and we strive to be consistently
relevant to their changing business needs. Your company always look towards futuristic
businesses and Electric Vehicle (EV) is one among them. After a lot of deliberations and
thought process, your Company has decided to venture into manufacturing of "Electric
Scooter", we anticipate this will be a good business in coining time.
Your Company continues to be driven, by sound ethical practices & strong set of
values and is committed to deliver excellence to its stakeholders. Times never remains
same, and I must accept that your company is also passing through tough time. Believing in
the mantra "Thou Shall also Pass'; I look forward towards your support and
encouragement to help your Company, scale newer heights in the coming years. Lastly, I
would also like to thank all the board Members, my colleagues, the stakeholders including
the shareholders, lenders and employees for their professionalism and focus. .
We endeavor to build a better tomorrow for whole of humanity.
| With Warm Regards |
|
| Shyamsunder Mundra |
|
| Chairman & Managing Director |
|
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Date: 15th July, 2019 |
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Place; Indore |