Alkesh Rameshchandra Patel Managing Director
With great pleasure I welcome you to the 14th Annual General Meeting of Your Companyheld through virtual mode.
We take this opportunity to thank each and every member of Loyal family for showingcourage and patience in these turbulent times. We have come along one more year of movingahead in emerging opportunities in global and domestic markets.
Today in the situations where whole of the world is suffering from pandemic crisis theimpact can be seen in every industry including our industry also. The world is goingthrough an unprecedented crisis of Covid-19 pandemic and we are evaluating our company'sperformance and future at the middle of this biggest crisis. Further the financial impactof the crisis can be seem in the year 2020-21 as your company has reached the turnover ofRs. 25.63 Crores on standalone basis and Rs. 27.16 Crores on consolidated basis which isdecrease from previous year.
In the longer term for Loyal Equipments Limited we expect to achieve improvingprofitability in our journey. We shall be further strengthening our growth by takingadvantage of our integration capabilities. Our priorities for building our business forthe future are clear. We have the orders from our customer we have a focused strategyand we have the leadership team in place to deliver on our plans. Exceptional marketconditions and lessons learned from the pandemic have reaffirmed the opportunities in themarket and we strongly believe that there are multiple levers for growth within ourcontrol.
We take this opportunity to again thank our dedicated and hardworking staff ourcustomer base and all those who provided their unflinching support to us during thisenriching journey. We end our address by also thanking our shareholders suppliersdistributors and all other stakeholders for standing with the Company in the challengingtimes of the year gone by.
Please do take care of yourself and your family and stay safe.
Wish best wishes Sincerely
Alkesh Rameshchandra Patel Chairman & Managing Director September 07 2021