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RR Metalmakers India Ltd.

BSE: 531667 Sector: Others
NSE: N.A. ISIN Code: INE117K01013
BSE 00:00 | 23 Sep 39.10 -2.05
(-4.98%)
OPEN

39.55

HIGH

39.55

LOW

39.10

NSE 05:30 | 01 Jan RR Metalmakers India Ltd
OPEN 39.55
PREVIOUS CLOSE 41.15
VOLUME 4368
52-Week high 72.35
52-Week low 26.00
P/E
Mkt Cap.(Rs cr) 31
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 39.55
CLOSE 41.15
VOLUME 4368
52-Week high 72.35
52-Week low 26.00
P/E
Mkt Cap.(Rs cr) 31
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

RR Metalmakers India Ltd. (RRMETALMAKERS) - Chairman Speech

Company chairman speech

 

Dear Shareholders

On behalf of the Board of Directors I present to you the 26th annual reportfor the financial year ended 31 March 2021.

The year of 2020-21 was a very challenging and we all are witness to this biggestcrisis called the COVID-19 pandemic which resulted significant disruption and challengesto the business over the past year. In a COVID-19 environment and given the ongoinguncertainty. Many have made the abrupt shift to working from home; millions have lostjobs. The future looks uncertain. We don't know when or if our societies might return tonormal - or what kind of scars the pandemic will leave. We tried to accomplish most tasksremotely without significant drop in productivity or quality. Your Board has placedemphasis on ensuring the ongoing. Another takeaway is the need for flexibility andreadiness to adapt to a turbulent business environment any time. We learn to handlechallenges & kept our business constant in all situations.

I would like to share a beautiful quote of Gabe Grunewald that

"You can still make something beautiful and something powerful out of a really badsituation

By taking inspiration of this quote I would like to inform you all that the businessactivities of the manufacturing segment after the lifting and relaxation of lockdowns andrestrictions gradually improved on the back of the resumption of more manufacturing aswell as on trading activities in the fourth quarter. With the global challenges andoutlook characterised by uncertainties we will continue to place utmost focus to improveour enhanced level of utilisation which would include ensuring that our existing long termcontracts are fulfilled without disruptions.

About Company's prospective:

We are working very hard to shaping RR Metal makers India Ltd and trying to make itbest in manufacturing industry of ERW pipes. As you are aware that we have startedmanufacturing segment & I am sure that our contribution in expansion of company willbe remembered in the future. We are shaping the future of the company & it is majormilestone in expansion of the company. Our major focus is on expansion and to secure ourcompetitiveness.

Friends it is interesting to note that developed countries where steel consumptionwas set to reach a near plateau level would together demand 8.2% more steel in 2021while emerging economies excluding China is likely to clock a growth of 10.2% in steeldemand.

Looking at global data for steel demand in developing countries like India we tookdecision to start our Sabarkantha unit on the shift basis to increase its productioncapacity and to manufacture other steel products so we can also cover the losses incurredin lockdown period.

FINANCIAL PERFORMANCE

Notwithstanding the erratic market conditions and relentless disruptions wrought by theCovid-19 outbreak the company managed to record a marginal net profit in FinancialYear2020-21 Rs.1.92Cr compared to a net loss of Rs.4.46Cr in FY2019-20.

Indian government has also supported steel industry as under the Union Budget 2020-21the government allocated Rs. 39.25 crore (US$ 5.4 million) to the Ministry of Steel.Indian Government has created favorable situation for steel industry In January 2021 theMinistry of Steel Government of India signed a Memorandum of Cooperation (MoC) with theMinistry of Economy Trade and Industry Government of Japan to boost the steel sectorthrough joint activities under the framework of India-Japan Steel Dialogue. Economicgrowth has the incredible ability to make us all equal. I believe we can and we will makea real positive contribution to the economic and social wellbeing of this country. Themanagement recognises that our collective core competencies give us an advantage to seizethe opportunities offered by supportive government policies At RR Metalmakers we make surethat never to lose sight of the humans behind the machines whether they 're your workersor your target market.

On behalf of the Board of Directors I would like to express our appreciation for thededication of our factory workers of Sabarkantha Plant and our office employees in Mumbaiand for their hard work and commitment they showed in the face of a very challenging anddifficult business environment.

Dear shareholders we will continue our winning spree with your love and valuablesupport. My special word of appreciation goes to all our bankers for the re-profiling ofcertain of our bank loans clients and suppliers for their steadfast support and trustunder these tumultuous times. My team and I continue to look to further develop theserelationships in FY2021 and the years ahead.

Last but not least I would like to extend my gratitude to our dedicated Board ofDirectors for their guidance and advice. As we embark on a challenging journey postCOVID-19 we will seize the opportunity on potential new businesses and to deliver greatervalue to our shareholders.

Stay Inspired.

Shri Virat Sevantilal Shah

(Chairman of the Board of RR Metalmakers India Limited)

.