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AVSL Industries Ltd.

BSE: 538373 Sector: Industrials
NSE: AVSL ISIN Code: INE522V01011
BSE 05:30 | 01 Jan AVSL Industries Ltd
NSE 05:30 | 01 Jan AVSL Industries Ltd

AVSL Industries Ltd. (AVSL) - Chairman Speech

Company chairman speech

DEAR AND ESTEEMED FELLOW SHAREHOLDERS

I hope this letter finds you and your loved ones healthy and safe. This year wascertainly challenging but it saw us proving our mettle once more. From the very inceptionwe AVSL have believed that a corporate is much more than an economic unit for generatingwealth. The pandemic induced disruptions have compelled businesses worldwide to rethinktheir strategies and change the course of actions. The way the whole AVSL Family workedand cooperate was most satisfying to me and I am sure to all of you as well. The impactof the COVID-19 crisis on the global as well as domestic economy has been largelydisruptive. However the second half of the year were remarkable recovery due to unlockingof restrictions and pick-up in economic activity along with the favorable governmentreforms.

Uncertainty about the third wave of coronavirus infections along with subsequentrestrictions may help to recover the economic conditions. Recovery from the COVID-19crisis has created a unique situation in which manufacturing sector will reinvent theirstrategies and emerge stronger in India. Through this period of economic uncertainty weremained committed to our mission i.e strengthening our capabilities.

There is tremendous scope and demand of the power cable and house wiring due toincrease focus by Government of India due to electrification and increased demand inhousing. Fortunately AVSL is better equipped to face these uncertainties today than everbefore. The raw material demand from the user industry is again expected to be huge so weare continuously trying to improve the capacity utilization. AVSL entered into the newsegment after COVID Pandemic i.e PVC Board and Doors frame which is retail product andused by direct costumers. AVSL continues to focus on execution of its stated strategy.AVSL will remain focused on providing superior products to the customers. All the ongoingstrategic initiatives will ensure that your Company will continue to provide the best ofcustomer experience to retail and industrial customers and help in creating a future-fitorganization.

PERFORMANCE

Total Revenue from operations for the year has been increased to Rs. 1015325992/-from Rs. 849885234/- to the corresponding year. In the Financial Year 2021-2022 profitafter tax of Rs. 58899474/- as compared to Rs. 58526969/- for Financial Year2020-2021. Despite of all the restrictions imposed in India during the pandemic but postlock down offtake from customers has been robust as a results overall sales volume showedan upward movement as compared to the previous financial year.

CONCLUSION

I take this opportunity to express my sincerest gratitude to our employees customerspartners business associates and all our stakeholders for their unwavering trust andsupport. We continue to drive consistent value for our stakeholders and scale new echelonsof success.

WARM REGARDS Sd/-

SANJAY BANSAL

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