It gives me a great pleasure to present this Annual Report to shareholders my first asChairman.
This year was remarkable for us.
During the year your company has come up with an Initial Public Offering (IPO) at theBSE SME platform. The Company has increased its scale of operation. From textile industryto service industry i.e. to act as DSA (Direct Selling Agent) and providing consultancyservices like Loan Syndication and Project Approval it is increasing its roots in everyniche in the market.
During the year we have also re-started the trading division from our network andtaking forward the old synergies of the company. Being a well funded company; we wouldpropose to continue to add risk adjusted profit making business verticals; which areallowed by our Memorandum. We believe that being a multi business verticals company wewould provide benefits of diversification to our shareholders.
As the Company has listed on the SME Platform it will provide immense opportunities toinvestors. It will enhanced financial status leading to demand in the company's shares andhigher valuation of the company. Now the Company provides an opportunities to investorsto deal in shares on the trading platform and earn income on that.
Also our honourable prime minister Mr. Modi has brought so many changes in laws andin the economy. Demonetisation Goods and Services Act (GST) and IBC (Insolvency &Bankruptcy Code) 2016 has brought a positive change in the market. Like Demonetisationwill have a huge resultant effect on the Indian economy. The clean-up of illegal cash willhelp turn around the economy. First it will bring more borrowings to the exchequerimprove inflation outlook and increase India's gross domestic product (GDP). Second itwill revive investment opportunities and give a fillip to infrastructure and themanufacturing sector. Third it will help reduce interest rates and lower income tax rate.GST will also help to build a transparent and corruption free tax administration. Removingcascading tax effect simpler online procedure under GST defined treatment for E-commerceand regulating the unorganised sector. The main reason behind introducing GST is toimprove the economy of the nation. These changes will help in building a "NewIndia".
Lastly I would like to thank each shareholder and stakeholder for their support andtrust on us and on the Company. It would not be possible without your investment trustand time that you have devoted in the Company. We always try to fulfill all yourexpectations that you have with the Company and in future we will maximize ourshareholder's wealth with complete dedication. I promise to all my shareholders/stakeholders that your company will soon reach new highs in the coming years.
|Gopal Bansal |
|Chairman & MD |