The year 2020-21 has been unprecedented in terms of the environment in which we havehad to do business.
My sincere wishes and prayers for the good health happiness and prosperity of all ourshareholders and their families. The pandemic has not only affected our livelihoodbusiness and the economy but also taught us many lessons in managing tough situations. Ithas been a year of learning and exploring new opportunities.
On 11th December 2020 we lost our beloved founder of Shanthi Gears Mr PSubramanian who not only established one of the finest gear and gear box manufacturingfacitilities but also distinguished himself by his generous and selfless service to thesociety through Shanthi Social Services. In 2021 Govt. of India awarded him Padma Shri(posthumously) considering his remarkable contribution in the field of Trade and Industry.We at Shanthi Gears sincerely acknowledge the strong foundation he laid for the companyand pay our homage.
Our business in Q1 was sluggish but could break even in Q2. We could meet theadditional demand in Q3 and Q4 and achieved a business of 134 crores in Q3 & Q4 whichis 37% higher over the corresponding period FY 19-20. We gained momentum in exports byregistering a 27% growth adding products and expediting proto order The team bagged about10 projects in steel sector that includes new products and new application for stainlesssteel rolling application. The business also recorded its highest order booking of '190crores in H2.
The tough operating conditions due to the pandemic also forced the company to look atnew opportunities to improve your company's performance. The noteworthy improvements havebeen in the areas of productivity cost reduction digitalization and acquisition of newcustomer I am confident these will be continued with focus in the coming years too.
As we get into FY 2021-22 we have to service customer orders within the framework ofthe restrictions imposed due to the second wave of Covid 19. With a healthy order book ofabove 200 crores your company will continue to strengthen relationships with customerssuppliers and other stakeholder
2020-21 has been a challenging year and I would like to thank our employees managementteam customers dealers suppliers and other stake holders for their hard work andcommitment during this important phase of the company's journey. I would also thank theBoard Members for their continued support and encouragement to the team.
My Sincere thanks to all of you for the trust and confidence reposed in us during thisuncertain time.