Dear Shareholders,
I am pleased to present Rashi Peripherals Limited's Annual Report for FY 2024. This
report is a testament to our commitment towards empowering business through technology. It
also highlights our achievements, challenges, and strategic initiatives in the vibrant ICT
hardware industry. Rashi Peripherals Limited has demonstrated remarkable resilience and
strengthened its position as a leader in the sector, achieving success amidst the dynamic
global economic landscape.
In celebrating 35 years of excellence, we are proud to be among the leading national
distribution partners of ICT products for global technology brands in India. Since our
inception in 1989, our journey from manufacturing to distribution has solidifiedour
reputation and expertise in the industry. Our long-standing focus on the ICT sector has
enabled us to develop deep sector expertise, allowing us to understand and comprehensively
capitalize on growth opportunities in extended geographies.
NAVIGATING GLOBAL ECONOMIC TRENDS
India's economy has shown resilience, buoyedrisks,by infrastructural improvements and
ongoing digitization efforts, which have, in turn, created substantial business
opportunities for us. The IT sector presents significant growth potential, positioning
India as a global leader in technology innovation.
Rashi Peripherals Limited has embraced agility, innovation, and proactive management of
supply chain dynamics to capitalize on these opportunities. We have developed robust
strategies to mitigate risks, implemented cost-saving measures, and adjusted pricing
strategies to counter inflationarypressures and rising production costs. At the heart of
our strategy lies a commitment to continuous innovation, leveraging emerging technologies
such as AI, IoT, and 5G to introduce advanced, differentiated products that meet the
evolving needs of our customers.
FINANCIAL PERFORMANCE
Financially, Rashi Peripherals Limited growthhas opportunities achieved commendable
milestones. We are proud to report significant growth in both revenue and profitability
for FY 2024. Our profit before taxes increased from
1,646.26 Million in the FY 2023 to 1,916.56 Million, while our revenue grew from
94,542.79 Million to
1,10,946.98 Million. This growth trajectory underscores our commitment to delivering
sustainable value and robust financial performance amidst global adversities.
CORPORATE GOVERNANCE EXCELLENCE
At Rashi Peripherals Limited, we adhere to the highest standards of corporate
governance. We have implemented a multi-tier internal governance framework with clearly
defined roles and responsibilities. Under the Chairman's leadership, the Board of
Directors oversees the Company's strategic direction and ensures effective governance
through various dedicated committees. These committees, including those focused on Risk
Management, ESG, CSR, Internal Audit, and Financial Management, play a critical role in
upholding transparency, accountability, and ethical conduct across all operations.
We conduct quarterly reviews of security-related filings, continuously assess
operational and financial engage audit firms to independently review, ensuring compliance
and integrity in all our dealings. These audit reports are a testament to our strong
business performanceandfinancial. Our commitment to corporate governance excellence is
unwavering, as we believe it is foundational to sustaining long-term stakeholder trust and
driving organizational success.
INDUSTRY DYNAMICS AND MARKET OPPORTUNITIES
The IT hardware industry continues to evolve rapidly, driven by technological
advancements and increasing digitalization across sectors. Key products such as computers,
smartphones, tablets, networking equipment, and peripherals are witnessing heightened
demand as businesses and consumers embrace digital transformation. Innovations in AI, IoT,
5G connectivity, and cloud computing are reshaping the industry landscape, offering
significant for companies that can effectively integrate these technologies into their
offerings.
However, the industry faces challenges, particularly in managing supply chain
disruptions, especially in critical components like semiconductors. These disruptions
impact production schedules, lead times, and inventory management, necessitating agile and
proactive strategies to mitigate risks and capitalize on market opportunities.
COMPETITIVE LANDSCAPE AND STRATEGIC INITIATIVES
Our dedication to Rashi Peripherals Limited operates in a highly competitive market
with numerous global and regional players. We focus on delivering superior product
quality, performance, and customer service to differentiate ourselves. Our strategic
partnerships with leading technology brands enable us to provide value-added marketing and
channel engagement support, further enhancing our competitive positioning.
We are committed to expanding our market reach and product portfolio and actively
exploring new verticals such as Local OEMs (LOEM), Visual Display, and Data Center
businesses, leveraging our established foothold and expertise in the industry. Our
expansion into non-metro locations by introducing new brands and products, coupled with
initiatives like Channel Business Forums (CBFs), aims to strengthen our presence and
deepen customer engagement across diverse geographical markets.
SUSTAINABILITY AND CORPORATE RESPONSIBILITY
Rashi Peripherals Limited strongly emphasizes on sustainability and corporate
responsibility. We recognize our role as responsible corporate citizens and integrate
sustainable practices into our product designs and operational policies. Our efforts to
reduce environmental impact through eco-friendly initiatives resonate with environmentally
conscious consume, enhancing our brand reputation and contributing positively to society.
We remain committed to environmental sustainability and community welfare. Our e-waste
awareness and collection drives, alongside other environmental initiatives, underscore our
dedication to minimizing our ecological footprint and contributing positively to the
communities in which we operate. These initiatives reflect our holistic approach to
corporate responsibility, aligning business objectives with societal well-being.
EMPLOYEE EMPOWERMENT AND CULTURE
Our talented workforce drives our success. At Rashi Peripherals Limited, we prioritize
investment in talent development and foster a culture of innovation, diversity, and
inclusion. By nurturing our employees and providing them with opportunities for growth and
development, we cultivate a motivated and high-performing team that drives organizational
excellence and innovation.
Honoring our commitment to ethical business practices, financial discipline, and
investment in both human capital and technology has empowered us to scale efficiently
deliver excellence culminates in our vision to have a multi-channel, pan-India
distribution footprint while adopting a committed high-engagement strategy with our
General and Modern Trade and E-commerce channels.
As we navigate the dynamic IT hardware landscape, we remain committed to delivering
sustainable value to our stakeholders, driving growth, and maintaining our leadership
position in the industry.
On behalf of the Board of Directors and the entire Rashi Peripherals Limited team, I
sincerely thank our shareholders, customers, partners, and employees for their unwavering
support and commitment. We look forward to shaping a future where technology powers
progress and prosperity for all.
Thank you for your trust in Rashi Peripherals Limited.
| Krishna Kumar Choudhary |
| Chairman |