We are witnessing an unprecedented and heart-breaking impact of the pandemic thatcontinues to devastate lives and livelihoods alike. In these times we are greatlyinspired by and pay our respects to the countless frontline warriors owing to whoseselfless service the society and the community continues to breathe. We shall foreverremain indebted to them.
FY21 was a very challenging period for us too. And I am happy to state that we stoodupto the challenge with grit and determination to deliver healthy growth in revenue andprofits. It has been a very momentous year for your Company and I am happy to share withyou the highlights of your Company's performance during the Financial Year 2020-21.
The Financial Year 2020-21 was a good year with an overall turnaround in Turnover andprofit. Your Company's total income has increased to Rs 2504.63 Lakhs as against Rs2143.66 Lakhs of the previous year an increase of 16.84%. Our Net Profit has gone from134.40 Lakhs to 192.70 Lakhs increased of 43.38% on year on year basis.
Further by New Product Development in our Kosamba Unit operations will play a majorrole towards our growth in the Steel polishing segment. During the Year we have witnesseda healthy growth in this segment and reported revenue of Rs 769.59 lakhs as against Rs163.99 lakhs of the previous year an increase of 369.28%. This unit also helped us insupply of SS sheet which is used as raw material in our primary products i.e. Elevatordoors and cabins. That largely reduced our dependency from external providers.
In every way we are firmly on our way to becoming a more future-ready Company anddetermined to keep formulating robust strategies and means to combat the challenges thrownby the pandemic. Our focus remains steadfastly on operating our assets and facilities atcapacity putting in place our diversification initiatives looking at growthopportunities but always keeping the safety of our employees at the forefront.
As the country navigates the second wave of the pandemic where challenges have becomeeven more difficult we are committed to ensuring the safety of our employees theirfamilies and the communities in which we operate. Till the impact of the vaccine is fullyfelt We continue to see our operations exposed to several challenges. We are activelyencouraging our employees to get vaccinated and also facilitate the same.
I am especially proud of the way in which our employees demonstrated strengthconviction and courage during these times. I am indebted to each one of them for havingstood solidly behind the Company. Without them last year's performance would not havebeen possible.
In closing I thank the Board for their continued guidance to steer the Company in itsjourney ahead. I extend my gratitude to the entire team our staff and workers for theirdisciplined determination. I also place on record my gratitude to all our otherstakeholders Customers Bankers Suppliers and Government Authorities - for the steadfastsupport and assistance throughout.