Dear Shareholders,
As I address you today, I am filled with a sense of immense pride and gratitude. This
year marks a significant milestone in the history of Hind Rectifiers Limited we have
crossed the sought-after 500 Crore mark. This achievement stands as a testament to our
unwavering commitment to excellence, innovation, and growth. The future of Hirect is
incredibly bright and ambitious, with vast potential for continued success and expansion.
When Hirect was founded in 1958, our visionaries embarked on a journey to shape the
future of power electronics. Over the decades, we have not only adapted to rapid
technological advancements but have also thrived amidst disruptive forces. Our strategic
expansion, diversification of our portfolio, and unwavering focus on research and
development have positioned us as leaders in our field. In June, we furthered our
commitment to innovation by inaugurating a new R&D office in Hyderabad, which will
enhance our capabilities and drive future growth.
This year also holds a personal significance for me. It will be my last year as
Chairman and Director of the Board. It has been a profound honor to witness and be a part
of Hirect's remarkable journey. Seeing the company grow to such incredible heights and
knowing the resilience and strength we have built together fills me with immense
satisfaction.
This year will also be the last year of Mr. Bhartia on the Board. He retires after
being with the company for 17 years as Chairman of the Audit Committee and an Independent
Director. His contributions have had a tremendous impact on developing a strong governance
framework, ensuring financial integrity, and fostering a culture of transparency and
accountability within the organization. His leadership and insights have been invaluable,
and his presence will be greatly missed.
I would like to extend my heartfelt thanks to our shareholders for their patience,
support and trust over the years. I am deeply grateful to our dedicated employees, both
past and present, whose hard work and commitment are the driving forces behind our
success. Your dedication has been instrumental in making Hirect what it is today.
Thank you for being an integral part of this incredible journey. As I step down, I am
confident that Hirect will continue to soar to new heights under the dynamic and visionary
leadership of the Management Team, driven by the same spirit of innovation and excellence
that has brought us this far.
Warm regards,
Pradeep Goyal
Chairman, Hind Rectifiers Ltd.