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R M Drip & Sprinklers Systems Ltd.

BSE: 535010 Sector: Industrials
NSE: RMDRIP ISIN Code: INE219Y01018
BSE 05:30 | 01 Jan R M Drip & Sprinklers Systems Ltd
NSE 00:00 | 08 Aug 13.35
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R M Drip & Sprinklers Systems Ltd. (RMDRIP) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me immense pleasure to welcome you all at the 16th (Sixteenth)Annual General Meeting of your Company through Video Conferencing.

I feel delighted to share with you the performance of your Company for the FinancialYear 2019-2020. The year has been encouraging as your Company registered anothercommendable performance with impressive growth despite a challenging economy. I will sharewith you the actions and initiatives we have embarked upon so far and will ask you toconsider the Company's prospects and future plans. We also get honoured to have suchinvestors who kept trust in the Company by flowing

their investment for mutual growth and I must thank all the shareholders for theconfidence they have shown in the business and the management.

In view of the outbreak of the COVID-19 pandemic social distancing norm to be followedand the continuing restriction on movement of persons at several places in the country andas per MCA circular and SEBI circular for conducted Annual General meeting through VC/OAVMFacility which does not require physical presence of members at a common venue. In thisyear company is conducting its 16thAGM through VC/OAVM Facility.

We are happy to share with you the 16th (Sixteenth) Annual Report of yourCompany. Towards the end of F.Y. 2019-2020 business was moving in the direction ofnormalcy and is looking buoyant in coming financial year.

It is always pleasure and privilege to share with you highlights of the year'sperformance and outlook for F.Y. 2019-2020:

-I- Our total revenue for the year is Rs. 23.72 Crore as compared to Rs. 23.13 Crore inthe previous year.

-I- We incurred a Profit Before Tax of Rs. 2.01 Crore as compared to loss of Rs. 5.42Crore which was incurred in the previous financial year.

-I- We incurred a Profit After Tax of Rs. 2.80 Crore as compared to loss of Rs. 5.44Crore which was incurred in the previous financial year.

The F.Y. 2019-2020 has been a good year for the Company wherein the Company managed tosignificantly improve its profitability as compared to the previous financial year despitethe external challenges. The growth in the profit of the Company was clocked through afocus on product quality process innovation improved manufacturing efficiencies andenhanced service level with better logistic arrangements. The F.Y. 2019-2020 was a marketwith volatility and disruptions still your Company continued to perform consistently welleven under these challenging times and delivered significantly better results.

The lockdown announced by the Central Government due to CoVID-19pandemic have affectedthe business of the Company. Being an allied Agriculture Industry and object of theCompany is related to provide equipment / tools to agriculturists activities our Companyhad took the permission to carry on the business of the Company despite of lockdown. TheCompany has resumed its work from 21st April 2020 based on the permissiongranted by the Government of Maharashtra. Complete and significant impact and effect ofCoVID-19 on the Capital and Financial Resources profitability and liquidity positionshall be more particularly viewed and disclosed in the Financial Statement for the F.Y.2019-2020.

As you all are aware that your Company is agricultural based Company so everything wedo is to benefit the farmers and to create a sustainable future for them. They are thebackbone of this nation that's why they deserve support machinery that will constantlyaid and guide them towards better water management and increasing their crop yields. Forwhich we constantly Endeavour to find new technological breakthroughs and work atbridging the gap between our businesses and rural communities.

We as company always try to cater the demand and to try to meet the growing andchanging needs of agriculture and farm industry with our standard and unique products. Ourcompany has utmost managerial capacity and experienced staffs who always try to achievethe goals set by the Company.

Our company has proposal to widen main object to remain competitive in thistechnologically advanced business world and to manufacture and fabricate by adopting WorldClass Technology and State of the Art equipments and to design supply distributemarket import and export and otherwise deal in Flat Drip & Cylindrical Drip SystemsHDPE Sprinkler Pipes with Fittings and PVC Pipes as a part of the Irrigation Systems withlatest automation & supplying products to the Indian and global Farming Community tomaximize the farming productivity and

accordingly seek your confirmation being an activity which can be easily andadvantageously combined with existing main object of the company .

We believe we have a much longer journey ahead to serve our customers with the best inclass products & services which are so essential to the future of mankind and theearth itself!

I take this opportunity to once again thank the Board Members and particularlydistinguished Independent Directors for their continued leadership support to the Companyand its employees. I also thank employees of Company without whose efforts and commitmentthe Company could not have performed well in challenging conditions. I would also like todeeply thank and acknowledge the continued co-operation trust and support of variousGovernment/ Regulatory authorities Company's valued customers suppliers vendorsinvestors bankers and shareholders.

Best Regards

Mr. Vijaykumar Hanmant Kshirsagar

Chairman

(DIN: 00816360)

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