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Priti International Ltd.

BSE: 535089 Sector: Industrials
NSE: PRITI ISIN Code: INE974Z01015
BSE 05:30 | 01 Jan Priti International Ltd
NSE 00:00 | 01 Jul 142.25 6.60
(4.87%)
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Priti International Ltd. (PRITI) - Chairman Speech

Company chairman speech

Dear Shareholders

It brings me immense pleasure to put forth the 4th Annual Report of your Company PRITIINTERNATIONAL Limited for the financial year 2020-21.

I express my deepest condolences for those who have been martyred in our fight withCovid-19 and our deepest respect for the professionals including health care workers andfrontline workers.

The 2 lockdowns had slowed the economy and especially the real estate sector and newconstructions. The end of this year was marked by the enormously challenging COVID-19pandemic which has fundamentally altered the consumer preferences and their views onbuying homes as well as making the living space more lively and livable. The subsequentlockdowns where people were locked in their homes has made them realize the importance ofgood furnishings and fixtures.

We are moving resolutely to address the new normal the new plans of expansion andstrategies will help us realise long term healthy and sustainable margins.

Performance for the last financial year was in line with our expectation where wecould withstand the sharp increasing it with growth in terms of revenue and turnover. Ourstrategy to de-risk the business through providing qualitative products proved to be verysuccessful. The high quality helped us win large ticket size clients especially in theexport markets.

Our relentless focus on innovation and quality has started showing results in way ofincreasing average ticket sizes as well as the ability to sell the products at a premiumprice.

The year gone by is proof of our long term innovative approach to doing businesswhether from the point of view strategy operations or sustainability and various businessverticals allows the company to maintain a space and remain competitive in today's everchallenging market place. After considerable thoughts our sustainable way to move to thenext level on product differentiation that will continue to be our backbone to developmarket and stay true to PRITI core purpose "to serve the world with a betterlifestyle" by delivering best quality products of furniture and consistently improvequality and standards for betterment of our customers.

The foundation stones of our new marketing and innovation strategies laid out in2020-21 will start taking shape in 2021-22. Some of our plans include setting up dealernetworks outreach to more market shapers such as interior designers and a stronger focuson online sales as well as digital marketing.

Your Company is in the process of creating experience stores across the country toexpand the brand footprint. We intend to open atleast 10 stores in major metro cities byDecember 2022.

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