As I write this for our 28th Annual Report for FY 2019-20 we are experiencing anunprecedented pandemic that has resulted in economically challenging times.
Fy20 was perhaps the most unpredictable year of the decade due to COVID 19 pandemic.There is an overall pessimism among the people all over the world due to wide spreadinfection and its consequent effect on economy. The Governments of all countries haveimposed lockdowns restricted movement of people enforced social distancing compelledusage of masks etc. to control this pandemic. As no specific medicine/vaccine isavailable adherence to the preventive norms suggested by WHO and the Government are theonly way to stay safe. In view of this situation we are forced to hold this AnnualGeneral Meeting through AudioA/ideo Conferencing instead of physical presence of theesteemed shareholders.
I pray that you and your families are safe and in good health. Ensuring the safety andwell-being of our employees and their families being highest priority I am glad to reportthat all are safe and doing well. We enabled work from home as soon as lockdown wasannounced and I commend our HR and IT teams in getting this executed quickly and ensuringall customer commitments were met without delay. We believe work-from-anywhere will becomethe new norm creating new business models and opportunities.
The Company is one of the rapidly growing consultancy firms in India with the presencein segments like. Roads and Highways Affordable Housing Water Management UrbanDevelopment Sustainability Environment and Solid Waste Management Public FinancialReforms. These crisis has provided new opportunities.
With zero travel we actively engaged with our clients/customers and associates onvideo calls to explore how we could continue rendering services such as formulation ofdetailed project report feasibility study project management consultancy independentengineer authority engineer surveys etc. to various Government departments and otherclients across the country.
The technology roadmap for the future is robust and the current crisis has onlyaccentuated the need for businesses to deploy digital technologies urgently. When weemerge out of this crisis the world will be a very different place. We are witnessingmany of those changes already. With cloud and the new class of collaboration tools peopleare discovering that they are able to collaborate with each other just as well workingfrom home as they did in person in the pre-COVID era.
The next few months will be difficult but your company is strong with deeprelationships with customers and associates enviable scale a diversified business mix arobust and resilient business model and strong financials. Your Company is wellpositioned to weather the storms ahead and take advantage of opportunities that come upduring the downturn to acquire new capabilities and gain market share. In the postpandemic world technology will play an ever larger role in helping enterprises adapt tothe new normal and differentiate themselves. Your company is well poised to take the leadin partnering customers to recover and rebound on to their growth and transformationjourneys. On behalf of the Board of Directors of Paramone Concepts Limited. I want tothank you for your continued trust confidence and support.
Govind Ram Patodia