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Shree Tirupati Balajee FIBC Ltd.

BSE: 535013 Sector: Industrials
NSE: TIRUPATI ISIN Code: INE238Y01018
BSE 05:30 | 01 Jan Shree Tirupati Balajee FIBC Ltd
NSE 00:00 | 15 Jun 40.70 0
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Shree Tirupati Balajee FIBC Ltd. (TIRUPATI) - Chairman Speech

Company chairman speech

Dear Shareholders

We are pleased to present you the details of events that have occurred in the financialyear 2019-20 through our Annual Report for the year. Challenges are a way of life. Copingwith them and proving your resilience in face of adversity is what makes you stand apart.We believe that we now stand in the position of achieving what we had set out to do. Yourcompany has world class manufacturing facilities which are now fully commissioned. As afully certified food grade facility we have built in capabilities which very few in theworld have.

The unprecedented disruptions and challenges posed by the COVID-19 have aggravated theglobal community's hardship. The nation-wide lockdown was effective from the midnight of24thMarch 2020. However the company resumed its operations partially within few daysafter getting requisite permission from concern authorities and is now fully operationalwith all measures necessary for safety and welfare of the employees have been taken. YourCompany as an exporter had a negative effect. Your Company has spent Rs. 2653222/-towards its CSR liability during the COVID-19 crisis.

Due to global brand image of TIRUPATI your Company's has high export orderdemand leading us to believe that your company is far better placed to serve its Globalcustomers now. In order to expand its export market in new geographical areas yourcompany is planning to increase its production capacity by way of expanding its plantlocated at Pithampur District Dhar (MP). Further your company has also incorporated itswholly owned subsidiary in the name and style of "STB International PrivateLimited"which will enhance the working capacity of the company.

I would like to thank our Board of Directors and the whole team of TIRUPATI for theircommitment and service during these tough times. Most importantly I would like toacknowledge the overwhelming trust and support of statutory authorities like NSE SEBINSDL CDSL RTA and our clients Business associates suppliers and all other stakeholderswho are providing value-added services to the company. I hereby extend my gratitudetowards all our shareholders for their faith and confidence in the company. We lookforward to create more milestones going ahead.

Regards

Binod Kumar Agarwal

Chairman & Managing Director