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
Chairman