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BSE Code : 533644 | NSE Symbol : UEL | ISIN : INE899L01030 | Industry : Electric Equipment |

Chairman's Speech

Dear Fellow Shareholders,

It is my duty to share with you, the key points of the performance of your Company. On the Standalone basis, during the F.Y. under review, your Company's Gross Revenue from, operations stood at INR 14,444,93 lakh as compared to INR 33,714.3! lakh in the previous year. The Net. Profit of the Company .stood at INR 660.82 lakh against INR 1700.85 lakh reported in the previous year.

The reduced turnover of the Company is due to ambiguity of tax rates applicable to Engineering procurement & construction (EPC) Contacts for Solar Power plants under GST Act, many retrospective changes in charges of Open Access, change in Net metering laws in Rooftop projects and many more,

Our clients are our most important stakeholders and we strive to be consistently relevant to their changing business needs. Your company always look towards futuristic businesses and Electric Vehicle (EV) is one among them. After a lot of deliberations and thought process, your Company has decided to venture into manufacturing of "Electric Scooter", we anticipate this will be a good business in coining time.

Your Company continues to be driven, by sound ethical practices & strong set of values and is committed to deliver excellence to its stakeholders. Times never remains same, and I must accept that your company is also passing through tough time. Believing in the mantra "Thou Shall also Pass'; I look forward towards your support and encouragement to help your Company, scale newer heights in the coming years. Lastly, I would also like to thank all the board Members, my colleagues, the stakeholders including the shareholders, lenders and employees for their professionalism and focus. .

We endeavor to build a better tomorrow for whole of humanity.

With Warm Regards
Shyamsunder Mundra
Chairman & Managing Director
	Date: 15th July, 2019
	Place; Indore

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Ujaas Energy Ltd