Dear Shareholders, Good Morning,
I welcome you all on behalf of the members of the Board to the 61st
Annual General Meeting of the Company for the ?nancial year 2023-
24. In pursuance of guidelines of the Ministry of Corporate Affairs,
the Annual General Meeting of the Company is being held through virtual mode.
A copy of the Annual Report containing Directors' Report,
Management Discussions and Analysis Report, CG Report and the Audited Accounts for the
year ended 31st March, 2024, together with Auditors' Report, Comments of C&AG,
Management's reply thereto etc has already been circulated alongwith Notice of the
Meeting. With your permission, I take them as read.
The Company is not carrying business activities as directed. In the
year
2023-24, your Company had a turnover of Rs. 5.13 crore which is mainly
from the power sold from the Wind Mill operating in Karnataka State. During 2023-24, the
Company earned a net pro?t of Rs. 68.21 crore. This pro?t is attributed to the interest
earned on in?ow from the sale of MMTC's stake in NINL in the previous year.
I would like to express sincere thanks and gratitude to our valued
members of the Board for their guidance, our esteemed shareholders for their continued
support and trust in the company, various Ministries of Government of India, particularly
the Department of Commerce, Ministry of Commerce & Industry for their valuable
guidance and support in all our endeavors and our employees for their engagement and
perseverance.
Hardeep Singh
Chairman and Managing Director
(Addl. Charge)