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Bright Solar Ltd.

BSE: 535092 Sector: Engineering
NSE: BRIGHT ISIN Code: INE684Z01010
BSE 05:30 | 01 Jan Bright Solar Ltd
NSE 00:00 | 30 Mar 9.50 0
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Bright Solar Ltd. (BRIGHT) - Chairman Speech

Company chairman speech

Dear Shareholders

It is an honor and privilege to present before you the 9th Annual Report of BrightSolar. During the course of a fruitful last year we conquered many peaks that will proveto be vantage points for achieving even higher results in the future.

In the year 2018 we got officially listed on National Stock Exchange's NSE Emergeplatform and we haven't looked back since. It not only increased the momentum of thecompany's growth rate but also helped us venture into unknown terrains to set up newbenchmarks in the industry.

Honorable PM Narendra Modi said in his speech "India has set a target of adding100 GW of solar power by 2022. We want to bring solar energy into our lives and homes bymaking it cheaper more reliable and easier to connect to the grid." We at BrightSolar are committed to fulfilling our Prime Minister's vision and with the leadership ofInternational Solar Alliance propel India's growth story in the field of Solar energygeneration.

PM-KUSUM Scheme envisions an objective to scale up the use of solar energy forirrigation pumps. The Central Government has worked upon a plethora of incentives forencouraging new technologies in the field of renewable energy with a special focus onSolar. The Government of Gujarat also recently announced massive subsidies on SolarRooftops that will boost its acceptance across the state. Bright Solar not onlyacknowledges but also appreciates all these steps and commits itself to provide themaximum contribution for scaling them up to a broader and deeper extent.

During the year under review the Company has achieved a turnover of Rs. 5741.14 Lacscompared to the previous of Rs. 3957.93 Lacs. The total income in the F.Y. 2018-19 wasRs.5784.19 Lacs increased by 45 % compared to the total income of the previous yearwhile the profit after tax for the year was Rs. 234.10 Lacs. We are proud to announce thatinstead of importing we will soon venture into manufacturing our own Solar Inverters inthe company-owned units. We were also delighted to open our first overseas office inBangladesh.

Solar is the tomorrow of energy. The conscience of a common man in the country israpidly tilting towards it. We feel blessed and loved for having been awarded multipleprestigious projects and are fully committed to diligently work to give the bestperformance across all the domains. We proactively and passionately endeavor to expand inscope and scale across all over the globe.

Solar is the tomorrow of energy. The conscience of a common man in the country israpidly tilting towards it. We feel blessed and loved for having been awarded multipleprestigious projects and are fully committed to diligently work to give the bestperformance across all the domains. We proactively and passionately endeavor to expand inscope and scale across all over the globe.

None of these was is or will be possible without your trustworthy understanding andoverwhelming support. From the deepest reservoirs of my heart I on behalf of the companyextend my gratitude and promise you that we will never let you down. Let's join hands towalk through an amazing financial year of 2019-20 as well

Piyushkumar Babubhai Thumar

Chairman & Managing Director