Our world is going through a period that will define the lives of future generations. Ihope that each one of you and your family members are safe and healthy and are heeding theadvisories of the respective government and taking all necessary precautions.
Shivam Autotech Limited has undergone a significant evolution in the past 20 years aswe have grown existing business added new ones and more importantly constantly adapted tothe changing ecosystem in which we operate. The FY 2019-20 was the most challenging yearfor the Indian automotive industry as it witnessed the worst-ever downturn in the last twodecades and was characterized by a difficult demand environment andweaker-than-anticipated financial performance. With an annual turnover of Rs. 589 Croresin 2019-20 we have tried to maintain a steady pace.
While the COVID-19 pandemic shook the world we stayed connected with our customersbusiness
partners employees communities and all other stakeholders to help them cope with thesituation and eventually evolve with a comprehensive re-start roadmap. We are respondingto the crisis in the best way we can and keeping a close watch on the impact of thecontagion.
With safety as a key priority in the post-COVID scenario people across the world andespecially in developing economies are exploring personal mobility solutions. This trendcould drive the demand for two-wheelers across categories and price points.
Our teams are constantly working on new business models and alternative mobilitysolutions making Shivam Autotech ahead of the curve.
No doubt an environment of fear is eclipsing the industry. But it is equally true thatthe industry is all set to become the third-largest in the world by 2025 andglobalization is considered auspicious rather than a menace.
Being part of the society at large it is essential for companies to go beyond theirbusiness interests and work for the betterment of the people. Though it is not obligatoryfor the Company under the provisions of the Companies Act 2013 to contribute towards thecorporate Social responsibility activities still the company is committed in contributingtowards various social projects and institutions for the welfare and betterment ofsociety. These projects include education renovation of schools and support to physicallychallenged children.
While the year at large was a slow one for the auto industry life was at full steam aswe continued to race ahead to achieve our long term vision- "Leadership throughworld-class products modern practices and customer satisfaction."
Shivam has got world class facilities across different geographical locations in India.The capacity is already
ramped up and as soon as the auto-sector demand revival occurs in India it will bewell-poised to carve a decent market share backed by technology-aided manufacturingfacilities already buildup.
We would like to take this opportunity to thank all our stakeholders - members of theboard business associates employees suppliers government agencies lenders andshareholders - who have contributed to the growth of our company. With their cooperationwe are confident of delivering superior value to all stakeholders.
Stay Informed! Stay safe!
Neeraj Munjal Managing Director