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Jayaswal Neco Industries Ltd.

BSE: 522285 Sector: Engineering
NSE: JAYNECOIND ISIN Code: INE854B01010
BSE 00:00 | 24 Jun 21.95 0.20
(0.92%)
OPEN

21.65

HIGH

22.50

LOW

21.30

NSE 00:00 | 24 Jun 21.95
(%)
OPEN

22.00

HIGH

22.25

LOW

21.35

OPEN 21.65
PREVIOUS CLOSE 21.75
VOLUME 11509
52-Week high 32.80
52-Week low 17.15
P/E 3.74
Mkt Cap.(Rs cr) 2,131
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 21.65
CLOSE 21.75
VOLUME 11509
52-Week high 32.80
52-Week low 17.15
P/E 3.74
Mkt Cap.(Rs cr) 2,131
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Jayaswal Neco Industries Ltd. (JAYNECOIND) - Chairman Speech

Company chairman speech

Dear Valued Shareholders

It is my honour and privilege to interact with you as the Chairman of the Board ofDirectors of your Company. I am pleased to present you the Annual Report for the financialyear ended 31st March 2021.

FY 2021 witnessed the emergence and widespread of COVID-19 globally. To curb the spreadof the highly contagious virus many countries imposed lockdown on non-essentialindustries and border restrictions which led to supply disruption and lower demand forcertain goods and services. The spread of COVID-19 pandemic brought economic activity to anear stand still in the first half of FY 21. Despite outbreak of the pandemic whichhindered growth of the economy we remain optimistic that this is the decade ofopportunities.

While most of the sectors including constructions and automotive were negativelyaffected some sectors such as pharmaceuticals and healthcare saw some growth. The Companythrough its prudent decisions remained resilient and sustainable in the challengingoperating environment in FY 2021 and had achieved a relatively commendable performance insecond half of FY 2021. At the same time we are leveraging our relationships withexisting customers to increase our product range and are also engaging with new customersto strengthen our presence and market share.

Moreover the Company has entered into a Restructuring Support Agreement dated 23rdAugust 2021 with various trusts declared and managed by Asset Care & ReconstructionEnterprise Limited in its capacity as a trustee of such trusts ("Lenders") inrelation to restructuring of its outstanding debt owed to the Lenders. The debtrestructuring would become effective upon completion of certain condition precedents underthe Restructuring Support Agreement. It is expected that the implementation of theproposed debt restructuring would improve the cash flow position of the Company result inreduction of financial stress and will lead to realignment of debt to a sustainable leveland prompt servicing of debt dues by the Company.

I take this opportunity to express my sincere gratitude to our Management team otherEmployees Workers Bankers Customers Business Associates and all other Stakeholders fortheir unwavering trust and support and fortheir contribution towards the Company.

With warm regards

BASANT LALL SHAW

CHAIRMAN

.