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Josts Engineering Company Ltd.

BSE: 505750 Sector: Engineering
NSE: N.A. ISIN Code: INE636D01025
BSE 00:00 | 21 Jan 467.70 18.60
(4.14%)
OPEN

442.05

HIGH

473.00

LOW

442.00

NSE 05:30 | 01 Jan Josts Engineering Company Ltd
OPEN 442.05
PREVIOUS CLOSE 449.10
VOLUME 2225
52-Week high 663.90
52-Week low 255.53
P/E 17.87
Mkt Cap.(Rs cr) 87
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 442.05
CLOSE 449.10
VOLUME 2225
52-Week high 663.90
52-Week low 255.53
P/E 17.87
Mkt Cap.(Rs cr) 87
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Josts Engineering Company Ltd. (JOSTSENGGCO) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me immense satisfaction to present to you the Josts' Annual Report for theyear 2020-21. We survived through this year of chaos by continuing our journey oftransformation and thrived by improving on profitable growth. Even during the mosttumultuous time that our company has ever seen we can look at Josts performance for thefiscal year 2021 with quiet contentment.

Over the past year we were extremely focused on ensuring the safety and wellbeing ofour employees. To support our employees during this challenging period we prioritizedmental and physical health while helping them maintain a better work-life balance. For ouremployees we have taken a variety of measures that encompass financial medical andinsurance assistance.

Today the world is undergoing three major transitions simultaneously thepandemic-induced model for hybrid work which requires new ways to collaborate orchestrateand deliver the technology transformation driven by cloud and the digital accelerationof business models that are changing the way we work and live. Josts is proud to say thatour employees have access to the latest digital technology and are embracing agile ways ofworking. We have been successful in virtually engaged with our employees as employeescontinue to work remotely Josts' subsidiary MHE Rental business is steady and thecompany is consolidating its business while providing satisfactory services to itscustomers.

The year FY21 was an economic roller coaster. It can be described as a ‘tale oftwo halves' where we witnessed a precipitous slowdown in economic activity in the firsthalf followed by an impressive sequential rebound in the second half. We believe a phasedrecovery in economic activity over the next couple of years will result in tax buoyancyand consequently enable the Government to forge ahead with various infrastructureprojects. While the Union Budget 2021 highlighted large outlays on infrastructure theGovernment also postponed the fiscal consolidation exercise to FY25 essentially creatingmore room for future capital expenditure. Currently numerous projects in India are beingfunded by various bilateral/ multilateral agencies which can potentially plug fundinggaps in the National Infrastructure Pipeline. Private sector balance sheets have beenlooking healthier thanks to the combination of incentives low tax rates and liquidity.

We have created a strong leadership team to work with trained and motivated employeeswho have proven their mettle by working through the pandemic. Our cross-functional teamshave brought the best of all our capabilities together by working in unison to supportand serve our clients.

I am pleased to inform you that Josts has continued its growth in the EngineeredProducts Division and Material Handling Division despite the impact of nationwide lockdownimposed due to the COVID-19 Pandemic. The Engineered Products Division has made asubstantial contribution to the profits made in the FY21. Through this division we servethe industries of Aerospace & Defense Education R&D Labs and private segmentslike Auto Engineering and FMCG. We aspire to sharpen the focus on the technical servicebusiness in the years to come.

The Material Handling Division performed better this year. Josts is continuouslyputting focus on the quality of products and better customer services. Refinement andenhancement of customer acquisition has added value to the division.

We continue to emphasize on shareholder value creation by concentrating on costefficiencies and leveraging technology for productivity gains. Josts' strategicallydiversified business portfolio geographical dispersion robust balance sheet and strongorder book are reliable signs pointing to a brighter future. Furthermore Josts has provenits execution capability and the committed workforce is successfully aiding the company'stransition into a digitally evolved work environment.

For me it is a matter of pride to see the commitment and dedication that our employeeshave displayed during this year to serve our clients. I am extremely grateful to them ourclients the leadership team our board members and all our well-wishers who havesupported us with their trust and patience through this most challenging year.

With Best Wishes

Jai Prakash Agarwal

 

Chairman

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