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Rajnandini Metal Ltd.

BSE: 535113 Sector: Others
NSE: RAJMET ISIN Code: INE00KV01014
BSE 05:30 | 01 Jan Rajnandini Metal Ltd
NSE 00:00 | 05 Aug 467.55
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Rajnandini Metal Ltd. (RAJMET) - Chairman Speech

Company chairman speech

Dear Valued Shareholders

On behalf of the Board of Directors of your Company it is great pleasure for me toextend a very warm welcome to each one of you at the 11th Annual GeneralMeeting of your Company.

The second surge of the coronavirus is proving to be an even more daunting challengethan the first. It continues to overturn many of the assumptions we had been living withand has highlighted a greater need for pragmatism and resilience while dealing with apandemic of this scale. At this juncture we need to consciously work towards bolsteringour resolve remind ourselves of our collective strength and reaffirm our faith in abetter future. At RML our top priority has always been to ensure the safety and health ofour team while safeguarding the interests of the communities in which we operate and theclients we serve.

At RML we consider ourselves fortunate to be significantly ahead of the curve in termsof scale and efficiency a testament to our ability to respond and navigate complexitiesin a timely fashion. As we regain our operational momentum I am certain we will be ableto reach newer heights. Upon reflection I can confidently say that in the past year RMLhas delivered on all fronts. We were able to execute our growth strategy in a manner thatcreated exponential value for all stakeholders while consistently delivering on ourpromises to produce stronger and more sustainable products.

Across economies commodities and specifically copper FY 2020-21 was a year of twocontrasting halves the first witnessed a massive downturn and the second witnessed anequally resilient upturn and recovery.

Governments and central banks worked in tandem to cushion and stabilise thisvolatility while policies were designed to facilitate growth. The story was no differentin India. Our Government responded with alacrity in announcing relief measures for themost vulnerable while supporting SMEs with a series of intelligent measures that focusedon capacity building and being future-ready. This was done even as severe restrictionswere enforced on human mobility and economic activity during the extended national andstate lockdowns. Consequently India’s annual GDP performance was better thanexpected and the coming years appear promising even after accounting for the disruptionscaused by the second wave of the pandemic The global copper industry proved its resilienceand witnessed a strong surge of demand in the second half of the year. We believe that theindustry is built on robust fundamentals and as a result prices have strengthenedsignificantly from the average of the previous year. copper continues to hold its positionas the most affordable universally consumed and versatile material that is deployed insolving many of the world’s present-day challenges. Indian Copper wire producers alsowitnessed gradually improving utilization levels and increased exports during the yearunderscoring our competitiveness as an industry. Domestic demand also rebounded with thesecond half of the year seeing a return of monthly dispatches to pre-COVID levels. Weexpect that increased infrastructure spending rising demand from construction togetherwith a revival of private capex and consumer demand will continue to drive copper wiresconsumption.

Despite the prevailing uncertainty our team rallied to deliver a strong operationalperformance a testament to our well-defined strategic framework in place alongsidesuperior execution capabilities.

I have no doubt that the Indian growth story will continue to build on its upwardtrajectory fueled by a sizeable human capital base robust domestic consumption andever-expanding manufacturing capabilities. The government is moving to increase share ofmanufacturing in GDP to 25% by 2030 Global supply chains are witnessing realignment witha China+1 sourcing approach as buyers balance cost and stability benefiting India. Thescale quality and speed at which India is building infrastructure metros airportsfreight corridors high- speed trains and road networks will further enhance productivityand accelerate growth.

RML’s unrelenting focus on doing ‘Better Everyday’ has resulted not onlyin our superior financial performance but the ability to deliver on equally important ESGtargets thus increasing shareholder value over time. Our ambitions are supported by astructurally positive outlook for cooper demand and pricing driven by massiveinfrastructure outlay controlled expansions in China and a wave of environmentalrestrictions that are resulting in capacity moderation across the world.

During this year the Board of Directors of Rajnandini Metal at a meeting held on 20thNovember 2020 considered and approved the proposal of migration of the company fromNSE EMERGE platform to NSE Main Board I would like to offer my immense gratitude toour Board shareholders bankers and the broader RML family that has stood by us throughan unusually trying time and helped us navigate the recent uncertainty. I would also liketo thank external authorities that have put their trust in us and with whom we workclosely. Finally my sincere thanks to the entire RML team who worked tirelessly todeliver the highest levels of service over this past year; as reflected in ourperformance; and continue to progress with optimism on what we can achieve.

I look forward to your continued support as we embark on this new phase of growth onethat will not only build a stronger future for India but also contribute to a cleanergreener planet for generations to come.

Sd/-

Het Ram Sharma

Chairman and Managing Director

DIN: 02925990

Dated: July 26 2021

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