On behalf of everyone I express my gratitude to all our shareholders employeesinvestors and associates who have supported us over the past years on our journey.
It is my pleasure to update you on performance for F.Y. 2016-17 and our strategy goingforward.
Last year we penetrated our market segment and extended our business operations.
Artefact's Gross revenues grew to Rs 2636.23 Lacs (Net of Taxes Rs 2301. 34 Lacs) in2017 an increase of 46.64 % over previous year. During the year the company baggedProjects Assignments of value of Rs 19.75 Crores and was eligible for number of ProjectsBids. It's a very significant long term benefit to all the shareholders.
Our F.Y. 2016-17 performance and market share demonstrates the gains made and ourstrategy to focus on our business model. We shall need additional resources and funds toincrease our business landscape and execute new contracts/assignments efficiently.
The infrastructure sector will fuel the economic growth in the country. The future isincredibly rich in opportunity.
Our accomplishments our growth potential which we together intend to bridge in Comingyears. In 2016-17 the share price of Artefact rose from Rs 23.80 to Rs 37.20 per share.
This is a very opportune time for the Company's business. We are extremely energized bythe opportunity. We seek the Valuable Contribution of all our stakeholders to lead theCompany's business in future.
|Pankaj Shah |
|Date: 23 rd May 2017 |
|Place: Nagpur |