Dear Shareholders,
On behalf of the board of directors, it is my privilege and honour to welcome you all
to the Thirty Fourth Annual General Meeting of our Company.
FY 2020-21 has been a challenging year for most businesses. The pandemic taught us new
ways of working and tested every business. During this time, we realized the importance of
various aspects of life that we usually took for granted.
The Company as well faced difficulties due to oxygen shortages which led to supply
chain and production disruption for a short period of time. However, the Company bounced
back in Q4 of the fiscal year with 2758.98 Lakhs turnover and operating profits of 449.21
Lakhs within the quarter.
The Company closed the year with a turnover of 6999.08 Lakhs and an EBITA margin of
917.38 lakhs.
There has been immense increase in the demand for the strategic sectors owing to the
commitment of "AtmaNirbhar Bharat" by the government of India. As import
substitutes in a technologically challenging area, we see a huge opportunity for the
business.
The Company continues to make endeavor to indigenize more and more special alloys to
restrict imports and make our country self-reliant.
Before I conclude, I would like to thank the shareholders, customers and vendors for
their continued support. We continue to work in the best interest of all our stakeholders
and strive for the highest levels of corporate governance.
Yours Sincerely,
Sd/-
Sanjay Chowdhri
Chairman and Managing Director