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Paras Defence and Space Technologies Ltd.

BSE: 543367 Sector: Engineering
NSE: PARAS ISIN Code: INE045601015
BSE 00:00 | 24 Jun 557.30 10.80
(1.98%)
OPEN

558.85

HIGH

566.50

LOW

554.65

NSE 00:00 | 24 Jun 557.85 11.70
(2.14%)
OPEN

560.00

HIGH

567.80

LOW

554.45

OPEN 558.85
PREVIOUS CLOSE 546.50
VOLUME 7060
52-Week high 1272.05
52-Week low 456.00
P/E 80.77
Mkt Cap.(Rs cr) 2,173
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 558.85
CLOSE 546.50
VOLUME 7060
52-Week high 1272.05
52-Week low 456.00
P/E 80.77
Mkt Cap.(Rs cr) 2,173
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Paras Defence and Space Technologies Ltd. (PARAS) - Chairman Speech

Company chairman speech

Dear shareholders

It is with immense gratitude and hope that I ink this year's message. I would like totake this opportunity on behalf of the entire team of Paras Defence & Space to wishyou and your family members a healthy and safe year ahead. As the world adjusts to life ina Covid-19 hit environment I reflect on the past financial year with mixed feelings. Thisglobal health crisis has seen suffering and has brought hardship for millions of peopleand has put considerable strain on governments healthcare providers and business housesalike. It seems likely that we will have to contend with its economic consequences forsome time to come while adapting to potentially significant changes in the ways we liveand work.

Throughout this challenging year one of our key priority was the health and safety ofour people. I would like to thank each one of them for their continued hard work anddedication during these challenging times. FY21 was a year that demonstrated theunderlying strength of PDSTL and the capabilities and dedication of our outstandingpeople. We ended the previous year with good momentum as a number of improvements beingmade to unlock the full potential of our businesses began to take shape. However theimpact of the Covid-19 pandemic in March 2020 was both immediate and significant. Withinweeks the Indian government and many other countries across the globe had imposed anumber of restrictions impacting both supply and demand and causing substantial loss ofbusiness and temporary closedown of factories. Through the extraordinary efforts of thewhole Paras team the

Company has been able to showcase robust and resilient performance to overcomeseemingly unsurmountable vagaries and stay on the charted course. During the year we madegood progress on our key strategic initiatives and achieved another year of strongbusiness performance. Yes indeed the financial numbers may not be portraying the truepotential of what we are but I believe that this year and for the next few lets lookbeyond the financial numbers. We made good progress during the year on differentinitiatives like filing our DRHP with SEBI for our IPO bagging our first order for acomplete Hyper-Spectral Cameras for Space Applications successful Completion of NavalPeriscope for DRDO successful development of Naval Fuze for DRDO strengthening OrderBook to the best ever till date AS9100D Compliance for Displays and computing Systems tostrengthen the business and keep the Company aligned with the government's vision ofAatmanirbhar Bharat (self-reliant India). As a result we delivered or exceeded most ofour stakeholder objectives. These would have been excellent outcomes in any yearespecially a background of pandemic-driven disruptions and turmoil we feel it was anexceptional performance. During the year we continued to focus on the delivery of thestrategy in particular through progress reviews of key strategic priorities such asoperational excellence growth of our international business in focused markets expansionof our market share and improvement of our offerings in India. We utilised advancedtechnology to innovate our offerings and focused on value creation with clear actions toprotect margins generate cash and deliver on our targets.

Under the current circumstances taking a longer-term view – with our currentorder book I believe we have strong visibility and we remain well-positioned in keygrowth areas to support evolving priorities of our customers . We continue to increase ourInvestment in Technology with constant improvements in areas where we can provideeffective solutions. Although the immediate future has some uncertainties due to COVIDPandemic India is poised to remain steadfast on its growth path over the medium termdriven by the mammoth effort on the part of the government to vaccinate the entirepopulation of India and normalise business activities. Given the uncertainty faced bybusinesses across India and the globe going forward our primary focus is centred aroundimproving our relevance to clients. We would therefore continue to innovate our productofferings strengthen our technology quotient and prepare ourselves to capitalize on thefirst green shoots of recovery. 2020 was dominated by the impact of the global pandemic aswe discovered new methods to improve our businesses and overcome the unprecedentedchallenges posed by the crisis. However the way we have showcased resilience so farunderscores the strong fundamentals of our business. We are making continual progress infine-tuning our new ways of operating within the new constraints of social distancing todrive profitability. With the measures undertaken to strengthen our capabilities andaccelerate growth we rely on the dedication and innovative capacities of our people toapproach the year ahead with greater confidence.

Warm regards
Sharad Shah
Chairman
Paras Defence &
Space Technologies Limited

.