At the outset I like to state that we are in several months in to the global menace ofthe COVID 19 Pandemic. The accelerated spread of the virus has touched the human lifewithout any exceptions directly impacting the socio economic activities globally. Weexpress our sincere thanks and gratitude to all the front line worriers .Their selflessefforts is making the believe in humanity even stronger for the entire world.
BUSINESS CONTINUITY AMONGST CHALLENGES
in India series of lockdowns were announced to crub the spread of this contagion .This has brought business activities to a grinding halt.While the global economy willtake time to emerge out of this crisis the indian growth story too will need time toregain the momentum after stepping out of the rough patch
At Dhanashree Electronics Ltd we exhibited courage and determination during thesechallenging times and ensured business continually. We have always taken care to ensure ahealthy balance between growth and profitability on the one hand and investment andfinancing on the other. Furthermore our low leverage strong operating cash flowefficient working capital management and operational efficiencies has positioned us tosuccessfully scale up the operations and continue on our desired path of consistent valuecreation
The current scenario of the Indian economy may look a bit gloomy at the moment owing tothe ongoing challenging situation.However the long term growth story is extremelyappealing .The country continues to remain an attractive investment and manufacturingdestination for investors across the globe.
The Government of India's recently launched " Atmanirbhar Bharat Abhiyan and"Vocal for Local " along with "Har Ghar Nal Se Jal" initiativesprovide a much needed boost to ensure success of" Make in India"
Post Covid 19 India is gradually emerging as a preferred destination which in turn willtranslate in to better exports opportunity for the company.
The Indian Lighting Industry has seen a strong transformation over the past 5 years.The Indian Lighting Industry has seen a strong transformation over the past 5 years . Therapid transition from the traditional bulbs to CFL and now to the modern generation LED isbringining in a consolidation in the industry
India has been steadily moving towards an energy efficient society. Government's strongdrive towards rural electrification infrastructure developmentupgradation of publiclighting systems construction of new homes along with installation of smart and connectedenergy efficient lighting .Post Covid 19 the organized players with strong capacities andsound financials like us are gaining more traction. Our consolidation strategy has allowedus to buid scale and carter the burgeoning demand
Besides we are also expected to witness increase in export orders
EMPLOYEE AND SOCIETY WELFARE
We recognize and appreciate our human resources and their constant value addition .Theyare our strategic business partners and play a prominent role in supporting and drivingour business strategies .We have always ensured on boarding the right talent across allthe levels of the organization.
I would like to thank all the employees and our dedicated management team for their allround efforts and achievements over the period . I would also acknowledge our Boardmembers for their constant guidance towards driving in the right direction . I am alsothankful for the constant support of our stake holders with quick decisions and necessaryinitiatives taken during the year
Till then stay safe and sound.
|Best wishes |
|Madan Gopal Maheshwari |