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Chairman
Dear Shareholders,
I feel extremely happy in presenting the Annual Report of the Company for fiscal 2022. The operational revenue (net) is Rs. 1,39,395.00 lakh and PBT at Rs. 47,208.64 lakh. After accounting for taxes of Rs. 12,263.30 lakh, the profit from continuing operations is Rs. 34,945.34 lakh whereas the total comprehensive income is Rs. 34,932.03 lakh, indicating a growth of around 5 percent.
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. B. M. Bhansali, Managing 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.
M. C. Gupta
Bhansali Engineering Polymers Ltd
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