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Shri Ram Switchgears Ltd.

BSE: 538430 Sector: Engineering
NSE: SRIRAM ISIN Code: INE634W01012
BSE 05:30 | 01 Jan Shri Ram Switchgears Ltd
NSE 05:30 | 01 Jan Shri Ram Switchgears Ltd

Shri Ram Switchgears Ltd. (SRIRAM) - Chairman Speech

Company chairman speech

Dear Members

I am elated to present before you the 33 Annual Report of your Company. The Company hashad a long and momentous journey. The financial year 2018 - 19 has been yet another goodyear. It is the continued support and unwavering trust of all the stakeholders in theCompany that has enabled us to deliver sustained performance and growth over the years.

With establishment of GST Law and Rules which is one of the most far-reaching indirecttax reforms as it is likely to create a common Indian market improve tax compliance andgovernance. Except for certain teething troubles and procedural setbacks GST is going tohave far reaching impact in Indian market. Financial services in India have come out of avolatile cycle and with government initiatives to devise various fiscal reforms thefuture opportunity scenario looks quite attractive.

The Economy is currently at a stage where a slight pickup in demand can lead to asignificant improvement in growth. The opportunity is out there in the open one justneeds to focus and choose the right path for success. As an organization we have setambitious yet realistic plans for each of our businesses.

The total turnover for Financial Year 2017 - 18 was Rs. 54.95 crore and in FinancialYear 2018 - 19 it was Rs. 28.20 Crores. Further it is to be noted that due to reductionin gross revenue the profit is also reduced from Rs. 2.25 Crore to Rs. 0.77 Crores. Dueto overall slowdown in the economy turnover of the company has been adversely affectedhowever major steps will be taken to resolve it and the goods order book which wasaffected adversely is now taken care off.

The tag line and the motto of your company is "Power Solutions Redefined."The company is keeping with its tag line and is always trying to come out with bestsolution for every power need. The power needs of urban and rural area are extremelydiversified. In addition to urban market the emphasis of the company has always been therural market. At Shri Ram Group our corporate credo has been to ‘Trade withConfidence' and hence we deliver utmost satisfaction to our customers consistently. Withover three decades of expertise and experience we have emerged as a front-runner in ourfield. We have come this far solely based on our core values serving as a moral compass inall our dealings. Our team's experience and expertise diversified product offeringsdisciplined approach product quality post sale services have enabled us to win the trustof distinguished investors customers and a wide fraternity of stakeholders.

Our strength emanates from the trust of people that we have earned over the years byproviding customized solutions to our customers. Today we are known for our diversifiedproduct portfolio and prominent position in all our business area. Flexibility andreinvention while staying true to our ethos by helping every customer meet theirrequirements will set our foundation of growth for the forthcoming financial year andbeyond. We are all set to enter new business transactions with local as well as overseascustomers.

Our vision is that we believe "Customer is the core of all the endeavors".Thus the primary objective of the company is up-holding the value of the"customer". Our Company strives to provide "solutions" rather than"selling of products." Our Objectives are to establish the organizationleadership in the area of electrical engineering both in the field of manufacturing andmarketing and to develop high level of satisfied customer profile with dedicated serviceand high grade of products and quality as well as to maintain the growth patternsconsistently both in terms of sales volume and return from sales.

The company believes that the support of shareholders have played indispensable role inimproved performance of the company and also during trying time like previous financialyear. But with the support of stakeholders the company is trying to average the turnoverin current ear.

Your Company believes in serving its own people first by providing the right workplacefacilities and atmosphere for every staff members with highly subsidized and qualitycanteen facilities; employee health provisions for all the Employees. To connect with theemployees on a personal level the company initiates outings on regular basis.

With your continued support we will think bigger. Indeed not just bigger but bettercreating ever greater value for all our stakeholders. I would like to end by expressing mygratitude to all our clients employees investors bankers and shareholders - for thetrust they have reposed in us. I would especially like to thank our Board members fortheir guidance throughout our journey. We look forward to your continued support in ourjourney to create long term value for all our stakeholders.

With Warm Regards
Sd/-
Nilesh Jhalani
(Managing Director)