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GNA Axles Ltd.

BSE: 540124 Sector: Auto
NSE: GNA ISIN Code: INE934S01014
BSE 00:00 | 08 Dec 720.20 3.60
(0.50%)
OPEN

737.00

HIGH

740.00

LOW

712.00

NSE 00:00 | 08 Dec 720.25 5.35
(0.75%)
OPEN

722.90

HIGH

724.50

LOW

716.00

OPEN 737.00
PREVIOUS CLOSE 716.60
VOLUME 2478
52-Week high 1107.35
52-Week low 229.00
P/E 14.28
Mkt Cap.(Rs cr) 1,546
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 737.00
CLOSE 716.60
VOLUME 2478
52-Week high 1107.35
52-Week low 229.00
P/E 14.28
Mkt Cap.(Rs cr) 1,546
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

GNA Axles Ltd. (GNA) - Chairman Speech

Company chairman speech

Dear Shareholders

I'm truly pleased to present the Annual Report for the financial year 2019-20 beforeall of you. The end of 2019-20 witnessed a global pandemic that transfigured ourlifestyle altering the way we live work and interact. Covid-19 had a severe impact onthe social and economic activities across the world. The Company continued to navigatethrough the challenges by demonstrating its resilience and quickly adapting to theemerging realities.

We undertook all the necessary measures to ensure the safety and well-being of ourpeople.

2019-20 was a period of significant external challenges even before the Covid-19crisis. Global markets witnessed slackened demand and low consumer sentiment. Weakening ofthe macroeconomic environment liquidity crunch and policy uncertainties majorlycontributed to volatility in the Indian economy. The crucial macro indicators such as GDPgrowth Index of Industrial Production (IIP) growth consumer price index along withautomobile sales remained subdued during the year.

Despite the turbulent scenario the Company delivered a satisfactory performance duringthe year. The Company reported a Total Revenue of ? 910 Cr and Profit after Tax of ? 52.75Cr. The slowdown in the domestic tractor and CV industry impacted our business. Furtherimposition of nationwide lockdown to contain the pandemic impacted our manufacturingoperations and performance.

However the anticipated demand revival in both the tractor and CV segments in thedomestic market under the current financial year poses more opportunities in thelong-term. Post the lockdown the Company has been experiencing good demand from thedomestic tractor segment on the back of rural market growth. However the demand from theCV segment has been impacted heavily and is only around 10% presently. Nevertheless weanticipate the CV segment's demand to pick up from the second half of the year. The exportmarket is also steadily gaining momentum and the Company is expecting to increase itsvolume in the coming months hoping to diminish the effect of Covid-19 on the business.

The deployment of cutting-edge technologies robust manufacturing capabilities and richdomain expertise enable us to consistently fulfil changing customer requirements. We arewell-known for the best-in-class automotive components in the industry with unmatchedquality and reliability. With strong fundamentals and comfortable liquidity position weare well-equipped to navigate any evolving business landscape.

The Company firmly believes that our people are the driving force of its success andthe competitiveness in

the industry. Our success is reliant on the knowledge innovation and commitment ofour talent pool. During the year we undertook several initiatives to up skill ourworkforce to stay ahead in the markets in which we operate. We also pride ourselves onbeing a responsible organisation that is committed to improving the quality of life ofcommunities we live and work within.

Looking ahead we will continue to serve our customers with quality and commitment. Weaim to strengthen our manufacturing prowess and execution capabilities to deliverinnovative products. We optimistically move towards the coming year as we see ourselvesreaping the benefits of new customer segments while capturing emerging opportunities.

Conclusively I would like to thank our team for their passion and commitment. I amalso truly grateful to our customers and vendors for their unwavering support. With thisbacking we will continue to create enduring value for all our stakeholders by building anenterprise that is increasingly agile and future-ready.

With Best Regards

Gursaran Singh

.