It gives me great pleasure to welcome you to the 18th Annual General Meeting of yourCompany and share with you the progress your Company has made despite the severalchallenges posed by the National & global economy.
While the economic climate throughout the industry has remained challenging during the2 years gone by the period including the Fiscal Years 2016-17 and 2017-18 was a period ofsteady revival and consolidation for us. During this period we faced major reforms likedemonitization shifting and setting up our new manufacturing unit shift over to our newERP initiation of GeM
Government e-Marketplace and implementation of GST. However learning from everysituation and moving forward we have kept up the developments in our projects and alsotried to evolve with the changing market.
As we step into new fiscal with the powerful reforms mentioned above and a diversecustomer base across geographies coupled with the learning s of the last year I am surethat your
Company will continue to consolidate and grow in the years to come. This is veryevident from orders bagged from various high value customers and new projects beingdeveloped as per market requirements. The Company has taken up several initiatives toembrace growth by aggressive business strategies and new business models.
Growth Strategy and Way Forward
To launch new products in the market. These include :
(i) EMFR (Electro-Magnetic Force Restoration) based Analytical Weighing Scales.
(ii) Pocket Hanging Scale with Bluetooth and Android App.
(iii) Person Scale with Bluetooth and Android App.
(iv) Currency Value Counter.
(v) Biometric Attendance Systems.
(vi) Total Body Analysis Scale.
(vii) Handheld terminals.
To widen our presence in India by growing our marketing network.
To develop newer product-centric market segments.
To set up a new manufacturing unit with modern and comprehensive productioncapabilities.
To initiate E-commerce activities and logistics models to expand our customerreach.
To increase product offerings across all business segments through Domestic& International Partnerships.
I am confident that Nitiraj Engineers with its committed associates excellentcustomers wide product range and strong and stable management team will continue todeliver significant value to all its stakeholders in the years to come and will achieveevery milestone in the journey to success.
I would like to thank all our shareholders investors employees customers and allother stakeholders who have always stood by us. With our focused business strategydynamic management team and a pool of professional talent we are poised for growth.
I look forward to your continued support in the coming years to take this Company tothe next level of growth and a Leader in Electronic Weighing Scales and Systems in India.
Rajesh Raghunath Bhatwal
Chairman & Managing Director