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RMC Switchgears Ltd.

BSE: 540358 Sector: Engineering
NSE: N.A. ISIN Code: INE655V01019
BSE 00:00 | 20 May 35.10 0
(0.00%)
OPEN

32.30

HIGH

35.10

LOW

32.30

NSE 05:30 | 01 Jan RMC Switchgears Ltd
OPEN 32.30
PREVIOUS CLOSE 35.10
VOLUME 6000
52-Week high 53.00
52-Week low 15.00
P/E 36.95
Mkt Cap.(Rs cr) 21
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 32.30
CLOSE 35.10
VOLUME 6000
52-Week high 53.00
52-Week low 15.00
P/E 36.95
Mkt Cap.(Rs cr) 21
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

RMC Switchgears Ltd. (RMCSWITCHGEARS) - Chairman Speech

Company chairman speech

Mr. Ashok Kumar Agarwal

Chairman cum Managing Director

Dear Stakeholders

I feel fortunate to be able to furnish before you all our 27th Annual Report. I wish totake you through the performance and the highlights of the year along with the AnnualReport.

We all are in the middle of the biggest crises ever seen in our lifetime i.e. theCOVID-19 pandemic. But as we all know that: "The world ain't all sunshine andrainbows" which means the time is not always favourable. We can even face the worsttime as never expected as we are facing now. The value of hard work and commitment isjudged during the hard times. As Stallone says: "It ain't about how hard you hitit's about how hard you can get it and keep moving forward. "

This pandemic has created unprecedented socioeconomic disruption fear and the tragicloss of human life. But we strive to conduct our business in a manner reflecting ourSafety and Environment Protection Policy. Company always prioritize the health and safetyof its employees kept customers ' mission critical systems running under very difficultcircumstances and pitched in to help communities across the world battle the pandemic. Weare committed to achieve this through integrity and sound corporate governance.

The fiscal year 2020-21 posed a challenging operating environment for the Indianeconomy marked by liquidity constraints muted investments weak consumption and volatilecommodity prices. Various macro indicators as well as overall GDP growth witnessedconsistent deceleration. These challenges were further exacerbated by outbreak of novelcorona virus (COVID-19) pandemic towards the end of the fiscal year. Weakeningmacroeconomic environment sectoral liquidity tightening and slowdown in infrastructuresegment impacted the demand for industrial products within cables professional lightingand switchgear. In addition muted consumer sentiment impacted the demand for electricalgoods.

As a Company our focus will be on enhancing revenues and profitability and getting ourworking capital right. We have an ambitious target of growing our business and improvingreturn on equity. The single-most important factor that we believe shall enable us toachieve this will be capacity utilisation. We will be targeting to maximise shareholders'value and will continue with cost optimisation initiatives as well.

In the end I would like to thank our management and staff members for their hard workand contribution. Their continuous support during this hard time gave us strength inattaining progressive success and realizing our vision and goals. I would also like totake the opportunity to express my gratitude to our partners suppliers invaluableconsumers our bankers government authorities and to all our shareholders for theunwavering trust and support reposed in us. We will be delighted if you continueaccompanying us in our journey as we work towards building the RMC Switchgears Ltd oftomorrow.

Thank You

Ashok Kumar Agarwal Chairman cum Managing Director

.