At Scan Steels we not only pursue financial outcomes but also invest in thesustainability and preservation of natural resources technology the development andwell-being of our employees as well as communities to make us future-ready.
It gives me immense pleasure to welcome you all to the 28th Annual General Meeting ofScan Steels Limited. The ensuing pandemic in the world has taken every body hostage. Weare living and doing business with new normal we don't know how much time we will beunder the hostage drama. During the first wave of covid 19 business was transfixed. Butstrategic move by govt of India to balance life and livelihood gives impetus for businesssector to recover from the lost ground slowly. I would have very much liked to meet andaddress you in person but as you know we are holding this meeting over a virtualplatform due to the unprecedented health crisis triggered by the
COVID-19 pandemic that not only posed significant threat to human life but alsoimpacted livelihood. I would like to thank you for sparing the time to join us today fromwherever you are and for your continued faith in Scan Steels Limited and its management.I hope you and your family members are remaining healthy and staying safe. As you knowthe Fiscal year 2021 started off with lots of hope and aspiration for marketconsolidation but again pandemic come with Monster disposition to engulf. The back boneof Indian economy is infrastructure sector which contribute huge to the national GDPdirectly and indirectly the infra sector was in full swing during the second wave thiswas an opportunity in the crisis and our leadership team have visualised the opportunityand capitalised with aggressive strategy to regain the glory.
SCAN STEELS LIMITED has created history by going beyond it all records of its annual ofbusiness since its inception. Sales volume revenue generation Manufacturing excellencebottom line enhancement and community development have marked with exception result thisyear.
I must acknowledge the understanding and support of our numerous customers; on whosetrust we continue to evolve and grow. I would also like to convey my appreciation to theemployees of Scan Steels Limited as well as its dealers business associates and vendorsand their families for their laudable efforts in pursuing business continuity and theirongoing and relentless efforts towards restoring growth trajectory in our organisation.With courage and conviction and diligence and determination they continue to contributeplacing the Company's interests above their own. Their commitment and sacrifices willdefinitely be recorded in the history of our glorious Company. In FY2020-21 financialresults the turnover is `736.45 crore during this financial year against the revenue of`30.74 crores. And the turnover of the first quarter of 2021-22 is ` 239.17 crore againstthe revenue of `21.79 crores. This has been a wonderful year beyond our expectations.
Apart from big cities in odisha our presence is strong in rural packets too and Shrishtiibrand is always a household name in eastern India. Apart from adjusting to the newnormal and coping with intermittent lockdowns our focus continues to be on maintainingmarket leadership in our chosen geographical areas of business. Prudent capitalallocation efficient cash management and a tight cost structure shall be our toppriorities in coming times Notice It is important for us to preserve our identityand leadership as a trusted by our value chain partners both in B2B and B2C sales segmentsand to pursue profitable growth with distinctly different and appropriate strategies thatthe businesses call for. In the AGM I would like to tender my goodwill gesture andthankfulness for the stakeholders value chain partners and all employees of Scan SteelsLtd. The unstinted supports of all have put us right picture throughout the year.
|Thanking you || |
| ||With kind regards |
| ||Rajesh Gadodia |
| ||Chairman |
|Place: Bhubaneswar || |
| ||(DIN: 00574465) |
|Date: 25th August 2021 || |