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Hem Holdings & Trading Ltd.

BSE: 505520 Sector: Financials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Hem Holdings & Trading Ltd
NSE 05:30 | 01 Jan Hem Holdings & Trading Ltd

Hem Holdings & Trading Ltd. (HEMHOLDINGST) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me great pleasures to present to you your Company's Annual Report for FY2016-17 . Your Company performed well during 2016-17 with steady growth in its revenuesand profitability.

Since independence the year 2016-17 will be remembered for many significant stepsbeing under taken by the Government of India not taken before which will provide theplatform for rapid progress of the economy of our country. Now our system is movingtowards simplicity of dealing with various acts and regulators with transparency andclarity to national as well international concerns and bodies. Now India has secondlargest Quality Companies after China in most Emerging Markets.

Demonetization may be remembered for a few years but GST will be remembered for ever.Millions of un-organized business people will register for GST and start paying taxes forthe first time. The second smartest decision by this government has to be acceptingAadhaar as the platform for a new India and will not only make a digital India possiblethrough e-KYC e-signature and e-payments and it will also put a brake on those who weretill now sucking the resources which were actually meant for the government and the poor.

I am pleased to share with you that once again we have augmented our presence in NBFCbusiness and now the first time our Networth has crossed 200 Lacs in F.Y. 2016-17.

As far as the performance of your Company is concerned it's reported the total incomefor the financial year 2016-17 of Rs. 95.34 lacs as against Rs. 64.69 lacs during theprevious financial year. The profit before tax is Rs. 88.00 lacs and profit after tax isRs. 87.20 lacs for the year under review against the profit before tax of Rs.52.09 lacsand profit after tax of Rs.51.98 lacs for the previous financial year respectively.

I also express my thanks to all our directors for their invaluable contribution throughtheir guidance and encouragement which have been critical for the success of the Company Finally I thank each and every Shareholders large and small for your confidence inus.

With your continued support and trust we look forward to growing your company andcontributing to the economic progress that our country is set to achieve.

With Best Wishes

Sangeeta Ketan Shah

( Chairman)