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Sharda Motor Industries Ltd.

BSE: 535602 Sector: Auto
NSE: SHARDAMOTR ISIN Code: INE597I01010
BSE 00:00 | 23 Oct 911.90 72.90
(8.69%)
OPEN

833.00

HIGH

948.75

LOW

833.00

NSE 00:00 | 23 Oct 916.30 83.80
(10.07%)
OPEN

827.95

HIGH

945.40

LOW

827.95

OPEN 833.00
PREVIOUS CLOSE 839.00
VOLUME 2436
52-Week high 1215.00
52-Week low 483.00
P/E 16.36
Mkt Cap.(Rs cr) 543
Buy Price 911.90
Buy Qty 1.00
Sell Price 925.60
Sell Qty 5.00
OPEN 833.00
CLOSE 839.00
VOLUME 2436
52-Week high 1215.00
52-Week low 483.00
P/E 16.36
Mkt Cap.(Rs cr) 543
Buy Price 911.90
Buy Qty 1.00
Sell Price 925.60
Sell Qty 5.00

Sharda Motor Industries Ltd. (SHARDAMOTR) - Chairman Speech

Company chairman speech

Dear Shareholders

It is my privilege to present the Annual Report for 201819 as Managing Director ofSharda Motor Industries Limited. This year we have marked 34 glorious years by creatingthe value for stakeholders.

India's automotive industry is the fourth-largest in the world (by production). Theannual production of vehicles including passenger vehicles commercial vehicles threewheelers two wheelers and quadricycle has registered a growth of Rs 6.26 percent in FY2018-19 compared to last year but for Q1 - FY 2019-20 it has registered a decline of Rs10.53 percent over the same period of last year. Therefore the sector which was growing ata good pace is now facing the slowdown and we expect to see government policy supportingauto growth through reduction of GST rates and implementation of National ElectricMobility Mission Plan 2020. However according to IHS Automotive a global marketinformation provider by 2026 India is expected to be the third largest automotive marketin the world. The Indian auto industry is facing challenges including adapting to astructural shift towards electric vehicles (EVs) shared mobility options withride-sharing permeating the urban landscape a pan-India shift to Bharat Stage-VI emissionby 2020 and enhanced safety norms. As such we will have to be more agile than ever andwork towards being future-ready.

Your Company always embarks towards the development of new products and technology witha foremost commitment for facing the aforesaid challenges and to delight the customer withadvanced products by setting up of new industry benchmarks. We shall continue to developnew and cutting-edge products at a faster pace and aggressively expand our pan- Indiafootprint considering that it has always been the focus of the management of the Companyto increase the stakeholder's wealth with every passing year while being a sociallyresponsible citizen. In the coming fiscal year we look ahead to excel in the productquality area with increased focus on research & development.

The support of our valued customers suppliers Government of India the stategovernments local communities and key contractors has been a key enabler. I personallythank all the stakeholders for their help. On your behalf I also take this opportunityto thank all employees of your Company for their continued hard work solidaritycooperation and support. On behalf of the Board I would like to thank all valuedShareholders for your support and for your trust in SMIL family which aims to go a longway to enable us resolutely move in our journey and keep the faith bestowed upon us bydelivering enduring value for our stakeholders.

Finally I thank you for your continued trust confidence and support.

Best Regards

Ajay Relan

Managing Director

.