I hope that you and your loved ones are staying safe and healthy in these difficulttimes. This year has been very challenging for everyone with the COVID-19 pandemic. Notonly has the pandemic impaired livelihoods and businesses but also tested the limits ofour resilience. To ensure the safety of our Astral family we provided the best treatmentavailable to not only all our staff members who were affected by the pandemic but also anyof their family members and we underwent a vigorous vaccination drive across our plantsand offices. We also did our by giving back to society by donating biotech equipmentoxygen concentrators medicines to many hospitals during the pandemic and we also set uptwo oxygen plants at our location to address the oxygen shortage faced by many hospitals.
Even amidst all these challenges I am pleased to inform you that your companydelivered its best financial performance during one of the worst humanitarian crises ofmodern history and I would like to congratulate and thank the remarkable Astral team fortheir unwavering and determined work ethics for making this milestone possible. Buildingon our mission to grow we have been constantly innovating to add to our diverse portfolioof products. Our R&D and senior management teams have been working relentlessly on newproduct launches new technologies and new market opportunities. We have added variousnew value-added varieties of products under valve category. We will also be the firstIndian company to make an indigenously developed compound for fire sprinklers called FirePro and we will also be the first and the only manufacturer of CPVC composite pipes. Thisyear we have also successfully added the water tanks product basket whose prospects arepromising across sectors like residential commercial and industrial. We set up two plantsfacilities in Santej and Aurangabad for water tanks and also plan to start manufacturingwater tanks from our plants in Rajasthan and Hosur soon.
Our strategic vision has been to decentralize and de-risk ourselves. In the comingfinancial year we shall be adding three new plants for pipes and we will also belaunching a new line of plastic water tanks. To propel Astral to new heights the companyhas proposed a merger between Resinova and Astral Biochem as a part of our long-termstrategy to synergize the businesses and optimize resources by creating cross-sellingopportunities and overall economies of scale. Astrals branding strategy has alwaysbeen to maintain and grow by commanding a strong recall and presence in the minds ofcustomers. We launched our marketing campaigns with our new brand ambassador the one andonly Ranveer Singh which has seen an exceptionally good response. As you know AstralPipes has been awarded as The Most Trusted Pipe Brand by TRA Research for 2019 and 2020.This consumer trust is a result of consistent quality and product innovations and hencethe launch campaign with Ranveer Singh had been conceptualized based on the insight ofconsumer trust.
When I look back the word that comes to my mind is Gratitude. I would liketo show my gratitude towards our people and our leadership team who have steered thecompany with resilience and executed very well in these testing times. I would also liketo show my gratitude to our shareholders customers and partners for their continuedtrust and support throughout our journey. I hope and pray that all of us emerge strongerand come back to normal times soon and we can consistently strive to perform in thefuture the way we have done this financial year.
Sandeep P. Engineer
Chairman & Managing Director