"Building the strong foundations for growth"
Dear Shareholders,
1 am writing down this message to all our stakeholders at a time when we are passing
through the most volatile and uncertain phase in our lives, owing to the circumstances
that the world or humanity has not seen before. Yet, when the times are tough and there is
uncertainty all around; it is our individual and collective belief in ourselves that gives
us the will and strength to move forward, and carve out a path through the labyrinth of
chaos and uncertainty.
As an Industry, we have witnessed one of the most challenging times caused due to the
ongoing COVID-19 pandemic* The pandemic had affected our business sector in an
unprecedented manner with an array of disruptions affecting all segments of the foreign
exchange business. As a result, the business of your Company has also been impacted by the
COVID-19 with a sharp drop in revenue resulting in the Company incurring substantial
losses during the year.
As I mentioned earlier, "Prithvi" is fundamentally strong to overcome this
adverse situation.
The company & the management is doing in its every bit to restore business normalcy
and in constant touch with authorities to steer ahead in this difficult situation.
I am convinced that we are well positioned to capitalize on the future growth
opportunities despite the temporary disruption induced by the pandemic. We are grateful
for the strong support from our patrons to navigate through these tough times. I would
like to thank all stakeholders especially employees for the engagement, hard work and for
adapting quickly to an unprecedented situation. I would also like to thank each of you as
our valuable shareholders, for your continued support and the confidence reposed in the
management in these challenging times.
We look forward to your continued support
Thank you
K N Deenadayalan Chairman