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Balu Forge Industries Ltd.

BSE: 531112 Sector: Engineering
NSE: N.A. ISIN Code: INE011E01029
BSE 00:00 | 28 Nov 54.90 -1.15
(-2.05%)
OPEN

56.95

HIGH

56.95

LOW

53.90

NSE 05:30 | 01 Jan Balu Forge Industries Ltd
OPEN 56.95
PREVIOUS CLOSE 56.05
VOLUME 87903
52-Week high 245.65
52-Week low 52.00
P/E 14.41
Mkt Cap.(Rs cr) 458
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 56.95
CLOSE 56.05
VOLUME 87903
52-Week high 245.65
52-Week low 52.00
P/E 14.41
Mkt Cap.(Rs cr) 458
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Balu Forge Industries Ltd. (BALUFORGE) - Chairman Speech

Company chairman speech

Dear Shareholders

We are living through testing times when global economies continue to witness either afragile recovery or persistent down turns on the wake of the COVID-19 Pandemic & theafter shocks which continue to overwhelm the health Infrastructure in both the Developed& Developing nations. If we look back into History as evidence for the times to comeeach time there has been an extended period of growth after every down turn may it be afinancial crisis pandemic or natural calamity. We have seen tremendous growth duringthese times from the Agricultural & Power Generation Sector. We are growing YoY closeto the rate of 100%. This growth is also attributed to a number of projects that we havebeen working closely on for the past 3-4 years which have not been impacted negatively bythe Pandemic. Our strategy in the new normal is to build both a diversified productportfolio & we also aim to have a broader geographical outreach. This would enable usto adopt a risk-agnostic approach which is imperative in this present volatile globalsituation. Our strategy over the last many years has been to increase our presence in theNew Mobility & Energy space with also a further increase in our exposure to the areaof Defence. We are making multiple investments in New Energy/ Mobility Solutions overmultiple verticals & this bears testimony to the strongest forward thinking pillar ofinnovation that is deep rooted in our ideology & the culture of BFIL. Despite theGlobal Slowdown The Company will continuously grow annually at a significant rate that ismuch higher than the industry for the next 5-7 Years. The Company will also continue Capexplans as before without any negative impact on the spending & the strategy has evolvedmore aggressively over the past 12 months that will enable us to build a strong foundationfor the next uptrend in the global economy.

There are a number of new projects in the pipeline that would generate a strongerfoundation for BFIL in the said space going forward. We are working on a fewdiversification strategies as well which would further strength the BFIL story. We believethe India Growth Story will continue to gain momentum in the coming times as India movesfrom the Pandemic to the Endemic stage in the fight against COVID-19. The opportunity forplayers in the said space is tremendous as there is a Vacuum created by companies movingaway from China where we believe is the Sweet Spot in this decade for Indian companies tocapitalize. This is where India's manufacturing story is going to play a major role indriving national growth.

We will continue to create value on the strength of our vision and strategiesirrespective of external realities. Across the world our stakeholders are working hard tomake our vision a reality. I take this opportunity to thank all members of Team BFIL andother stakeholders who have reposed their trust in our ability to steer forward ourorganization despite the existing challenges.

Jaspalsingh Chandock Chairman & Managing Director

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