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Confidence Petroleum India Ltd.

BSE: 526829 Sector: Others
NSE: CONFIPET ISIN Code: INE552D01024
BSE 13:51 | 05 Dec 78.55 -0.10
(-0.13%)
OPEN

78.65

HIGH

80.60

LOW

78.00

NSE 13:34 | 05 Dec 78.60 -0.10
(-0.13%)
OPEN

78.90

HIGH

80.60

LOW

78.15

OPEN 78.65
PREVIOUS CLOSE 78.65
VOLUME 74749
52-Week high 85.40
52-Week low 44.20
P/E 33.14
Mkt Cap.(Rs cr) 2,231
Buy Price 78.45
Buy Qty 348.00
Sell Price 78.65
Sell Qty 508.00
OPEN 78.65
CLOSE 78.65
VOLUME 74749
52-Week high 85.40
52-Week low 44.20
P/E 33.14
Mkt Cap.(Rs cr) 2,231
Buy Price 78.45
Buy Qty 348.00
Sell Price 78.65
Sell Qty 508.00

Confidence Petroleum India Ltd. (CONFIPET) - Chairman Speech

Company chairman speech

Dear Confidence Family

I am addressing you at a time when India which has registered aremarkable recovery from the economic and social abyss caused by the untamed spread ofCOVID-19 virus in 2020 and the devastating second wave in 2021.

I express my deepest condolences the loved ones of those who have beenmartyred in our fight with Covid-19 and our deepest respect for the professionalsincluding health care workers and frontline workers. The year has been challenging foreach one of us whether it be personal or economic loss.

The shutting of restaurants restrictions on working hours forcommercial and industrial establishment made FY21 a challenging period for us. However westood up on the face of the challenge actively took to reducing costs improve penetrationof the brand in smaller towns keeping our operations lean leverage technology andoptimizing working capital.

Our people ensured that supplies to customers continued even as weadhered to all Government protocols even when they were putting themselves on thefrontlines. Every single day they continue to motivate me and inspire me and theleadership team with their passion. Existing Businesses:

I remember hearing the expression in school that - "When goinggets tough the tough gets going" this was such a year for us. I am happy to informthat operations are getting back on track and we have expanded our network furtherdespite the uncertainties in the market.

We are also resumed work on upcoming Auto LPG sites which were on holddue to the pandemic. To expand our network

Within the packed cylinder business we have maintained our network ofPacked Cylinder retail dealers to 2000 dealers as was during the start of the year.Within the cylinder manufacturing business the Company expects the orders which were onhold to be released soon as well as new orders due to Ujwalla 2.0 recently launched bythe Central Government.

The major diversification of our business has been the expansion withinthe CNG segment. We aim to work across the value chain of Natural Gas from High pressurecylinder manufacturing plants to a network of CNG dispensing stations.

The newly formed CNG segment will be operational within the parentCompany and its subsidiaries. The segment lays the foundation stone for the future growthof the business. Our vision is to make the green fuel of CNG available to every residentof the country in an affordable manner.

Your Company's subsidiary acquired an operating CNG and High pressurecylinder manufacturing unit of SarjuImpex Limited in Dahej Gujarat. Our upcoming CNG andhigh pressure cylinder manufacturing plant in Nagpur will make Your Group as one of thelargest manufacturers of CNG and High Pressure cylinders in the country. The new facilitywill be state of art and has immense benefits such as GST rebates for ten years logisticsadvantage from sources of raw material and benefit of new technologies.

Mr. Nitin Khara
Chairman Confidence Group

.