Dear Stakeholders of Ushanti,
I am glad to present the Annual Report of the Company for Financial year 2020-21. I
expect the data/information provided in the report is enough to get the idea of our
Company and its progress. I hope you all are doing well during this tough time. Please go
and vaccinated, if you are still not, because it is very important for the good health of
yours and your family.
The nationwide pandemic has taken many things from all, we cannot exclude our Company
from it but we should learn to stay and survive together and also accept future challenges
together.
I pleased to inform you that Company has resumed its operation with as much capacity as
possible along with all safety measures and guidelines issued by Government. You all know
that 1st quarter of the FY was very tough for all because of having complete
lockdown so company could not do business up to the mark on that quarter but from 2nd
quarter and onwards company was able to do its business quite good and gradually covered
its losses made during the lock down and able to generate good profit during the year. It
is possible only because of having many years of trustworthy and strong relationship with
all stakeholders.
Our Company is in the line of manufacturing as well as selling of Dyes and
Intermediates. From the said activity Company generates profit of Rs. 2.43 Crores during
the FY which is higher of 2.53% as compared to the previous FY. Company has kept the said
profit in its reserve for growth of the Company instead of distributing it as dividend to
the members of the Company.
Further I am glad to inform you all that, as per altered object of the Company, SPV of
the Company, UC Colours and Intermediates Private Limited has initiated the construction
work at Plot No. C-18 situated at GIDC, Saykha Industrial Estate, Bharuch-392140, Gujarat,
India, but due to Covid-19 pandemic, there has been a delay in completion of setting up
manufacturing facility over there. It will be completed soon and the manufacturing
activity will commence then after.
I am grateful to the banks and their support staffs who have provided credit facility
to our Company and have been providing constant support for our routine work. They are the
support system of the company.
Further without fail, let me thank such a wonderful, supportive and cooperative staff
of our ushanti. They are the main pillars of the Company for growing our business. With
their support and work company is able to reach its milestone.
I conclude my speech with sincere thanks to all stakeholders who are always believing
on us and having faith on us.