Dear Shareholders

We sincerely hope that all of you and your families are safe and healthy. FinancialYear 2020-21 was one of those years when global pandemic caught businesses off-guard butat Kilitch we remained persistent in action. This enabled us to once again achieve a soundperformance in a difficult year. Unprecedented challenges in some countries of Africa haveled to regrouping our strategy to de-risk the business through diversification of ourportfolio across the market segment and the same has proved to be very useful.

Uncertainty and instability continue to loom across the globe including India due toemergence of new strains extending the tenure of the pandemic. Presence of risk ofincrease in cost of raw material and packing material made some orders unviable to accept.The most problematic was the delayed despatch due to lack of availability of containers atNhava Sheva and Mundra ports.

The movement of our very talented staff to Ethiopia was very difficult due to closureof air routes but we were able to successfully fly them to Addis Ababa Ethiopia viaMiddle-East.

All necessary steps were taken to keep manufacturing operations going keeping in mindthe safety of our employees.

Our Ethical business in Francophone African Countries achieved commendable growthduring the year. Our marketing team had quickly adapted to digital meetings and newplatforms.

I am delighted to announce a few developments at Kilitch despite various challenges:

1. Ethiopia Project:-

Our project at Addis Ababa Ethiopia is finally operational. We are eagerly awaitingfor final approval from Ethiopia FDA. Revenue from Ethiopia facility would gain momentumin the upcoming months.

2. Greenfield Project

To further strengthen our manufacturing infrastructure we plan to invest in buildingadditional greenfield facilities. In this regard we are identifying a land parcel in thevicinity of our Navi Mumbai Plant.

We are thankful to the Government of Ethiopia for timely assistance of all sorts forcommencement of our manufacturing unit at Addis Ababa Ethiopia.

Warm Regards

Mukund P. Mehta

Managing Director