Dear Shareholder,
It gives me immense pleasure to present the 33rd Annual Report of the
Company for the year 2023- 24. It gives me great pleasure to address you all as we
collectively continue to navigate through the challenges posed by the pandemic. I express
our gratitude to all those with all your support.
Our aim in producing this report is to provide a comprehensive and detailed overview of
the Company's operations, strategy, and performance. In this report, we look at the trends
and challenges in our business, at our strategies, and at how we create value through a
responsible approach towards business. Our Integrated and sustainable thinking is
intrinsic to how we manage our business and create value for our stakeholders.
Our Group is primarily engaged on pharmaceutical business, construction and
developmental activities in the real-estate market along with trading metal furniture and
building materials. During the year 2023-24, Company has performed well. The turnover of
your Company is Rs.601.71 Lakhs (Standalone) and has earned Profit of Rs.8.01 Lakhs
(Standalone). We have successfully performed well throughout the year and provided timely
service to all our esteemed clients.
The sector in which the Company has been operating is developing faster and provides
ample growth opportunities. Our Company will be able to place itself in a strong position
by expanding strategically, enhancing capacities across the organization. Company has
expanded its healthcare business including surgical as well as medical equipment business.
The Indian economy growth remained strong defying global challenges and is expected to
continue to grow at about 6.5% in the coming two fiscals as per Deloitte – India
economic outlook report. This would make India one of the fastest growing economies in the
world.
The Company is dedicated to expanding its product portfolio. The Company is committed
to developing value-adding products in the lifestyle and chronic segments. Our presence in
the acute segments presents a lucrative growth opportunity to gain more ground in the
market.
India's real estate market is experiencing healthy growth since the last few years
primarily led by increased surge in home ownership. There is a fundamental shift in
people's perception of owning a home which has become far evident than ever before. The
multi-fold increase in credit growth in the housing sector in last two financial years
indicate the rising demand among end-users and continued affordability. As India is poised
to continue to be amongst the fastest growing economies globally, it is likely that the
residential market would sustain such momentum.
The financial and statutory data presented in this report are in line with the
requirements of the Companies Act, 2013 and rules notified thereunder, the Indian
Accounting Standards, the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, and the Secretarial Standards.
I am grateful to the team at Maitri Enterprises for their exceptional resilience,
commitment, and ambition. I would like to take this opportunity to place on record my
immense gratitude to our employees who have risen to the challenges every time and help us
delivers consistently. I also thank every stakeholder who has conferred their trust and
faith in us and look forward to the continued patronage, guidance and long term
association in our journey to achieve accelerated growth with sustainability.
On behalf of the Board of the directors I would like to extend my heartfelt gratitude
to our dedicated employees, whose hard work and commitment have been instrumental in our
achievements. I would also like to thank our valued customers, partners, and shareholders
for their continued trust and support.
We extend our sincere gratitude to all our esteemed shareholders for their enduring
trust and support in our company. Your unwavering confidence has been instrumental in our
success. Thank you for being a part of our journey and for your continued support.
With warm regards,
Rameshlal Ambwani
Chairman