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Akshar Spintex Ltd.

BSE: 541303 Sector: Industrials
NSE: N.A. ISIN Code: INE256Z01017
BSE 00:00 | 16 May 60.80 -0.10
(-0.16%)
OPEN

62.50

HIGH

62.50

LOW

60.75

NSE 05:30 | 01 Jan Akshar Spintex Ltd
OPEN 62.50
PREVIOUS CLOSE 60.90
VOLUME 15000
52-Week high 69.90
52-Week low 8.00
P/E 121.60
Mkt Cap.(Rs cr) 152
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 62.50
CLOSE 60.90
VOLUME 15000
52-Week high 69.90
52-Week low 8.00
P/E 121.60
Mkt Cap.(Rs cr) 152
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Akshar Spintex Ltd. (AKSHARSPINTEX) - Chairman Speech

Company chairman speech

Dear Shareholders

It brings me immense pleasure to put forth the 8th Annual Report of your CompanyAkshar Spintex Limited for the nancial year 2020-21.

On the business front your company performed well in FY 2020-21 despite the dynamicdomestic and global macroeconomic challenges. Viewed from a nancial lens your companyachieved a 122% increase in pro t after tax at Rs 1.24 crore compared to loss of Rs (5.73)crore in the previous year. Your company's revenue for the year stood at Rs 110.88 croreas against Rs 111.09 crore in the previous year recording an overall growth slightlydecline. The Company is continuously taking various initiatives to reduce the operationalcost development of new innovative value added products and exploring new markets toachieve better margins in the future.

While we have always known that each business stands uniquely apart in its thinkingobjectives and resources we believe the timing is opportunity to run them independently.The year gone by is proof of our innovative approach to doing business whether from thepoint of view strategy operations or sustainability allows the company to maintain aspace and remain competitive in today's ever challenging market place. After considerablethoughts our sustainable way to move to the next level on product differentiation thatwill continue to be our backbone to develop market and stay true to Akshar' core purposeby delivering best quality products of cotton yarn and consistently improve quality of ourproducts.

WE BELIEVE THAT QUALITY PRODUCTS ARE NOT ONLY BY PROMISES BUT ALSO BY PROVEN RESULTS.

Your Company's philosophy is to achieve long- term value to serve the best interest ofall stakeholder-shareholders customers employees Government and the society.

Covid-19 pandemic has had a more negative impact on activity in the rst half year thananticipated but "second half year were a good period for Indian spinning millsbecause there was a huge shortage of cotton yarn due to last year's lockdown (to tackleCovid) and huge demand for yarn came from domestic and international markets. So spinningmills performed well. The recovery is projected to be more gradual than previouslyforecast. The future growth prospects remains highly vulnerable for the coming time aswell. However government and various rating agencies are highly optimistic about India'seconomy and expects economic growth to remain about 10% during nancial year 2021-22.

As I re ect on a uniquely challenging year one thing is clear we have all beenimpacted by COVID-19. My heart goes out to those who are grieving the passing of lovedones to those who were furloughed or lost their jobs and to the business owners who havestruggled mightily or were forced to shut down. While it has been a tough year for many Iam hopeful that better days are ahead.

I would like to acknowledge the hard work dedication of our talented employees fortheir passion and dedication with which they continue to contribute to the culture ofexcellence. We thank you all for your continued support in our growth. Further also thankyou our investors for your patience for showing con dence and trust in managementcapabilities and guidance thus far and looking forward to the future with optimism andinnovation.

As we move forward into our next year may you and your family stay safe and healthy.

Let's join our hands to create glorious future.

Warm Regards
Harikrushna S. Chauhan
Chairman cum Whole Time Director

.