I would like to begin with the highlight of the year before sharing other details.Thus far your Company was a partner to larger companies in implementing their corporatesocial responsibility (CSR) programs which were primarily school sanitation projects(Swachh Bharat: Swachh Vidyalaya). Your Company installed thousands of bioloos(bio-toilets) in schools across India as a CSR implementing partner to these companies.In FY 2019-20 your Company had the privilege of "breaching" the CSRapplicability threshold crossing the Rs. 5 crore pro tability mark; and we took our ownturn of undertaking CSR initiatives. These have been detailed later in the report.
Your company like others was not spared by the ravages of COVID-19 and relatedlockdowns.
The pandemic took a toll on the Company's nancials vis a vis the past and for the rsttime in your Company's history the 2020-21 scal saw a drop in revenue; which was alwayshigher compared to the previous year. As this year becomes a reset with a new base we are poised for a new growth trajectory in a post-COVID economy.
With new solutions and offerings new clientele and partnerships the future is asbright as can be imagined. Your Company's R&D laboratory was recognized by theDepartment of Scienti c and Industrial Research (DSIR) Ministry of Science andTechnology Government of India. The DSIR recognition and registration is a stringentprocess reviewed by senior scientists.
Some notable achievements of the year include: in The Economic Times - India's GrowthChampions of 2021 your Company was placed 39th compared to 59th position last year;similarly in The Financial Times ranking of Asia-Paci c High-Growth Companies BankaBioLoo moved to 218th position compared to 279 in the previous year. Your company wasrunner-up in SDG 6 in the BRICS Solutions for Sustainable Development Goals Awards 2021.These apart your Company continued to receive accolades for its contribution to thesociety environment (including climate resilience) and economy.
A signi cant milestone for your Company during the year was graduating from NSEEmerge to the Capital Market Segment (Main Board) of NSE in October 2020. After theissuance of bonus shares the shares began trading on the Main Board and that attractedmany new investors as also your Company's share price reached new highs in later months.The management is fully committed to higher and better performance in all respects; benetting all stakeholders of the society.
As we embark on the post-COVID journey all the team members at Banka BioLoo re-assureto put their best foot forward dually; to get back to pre-COVID nancial performance andthen to surpass them.
I thank you for your continued support and faith more so in these trying times.