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Tara Chand Infralogistic Solutions Ltd.

BSE: 535058 Sector: Others
NSE: TARACHAND ISIN Code: INE555Z01012
BSE 05:30 | 01 Jan Tara Chand Infralogistic Solutions Ltd
NSE 00:00 | 08 Feb 88.35 2.85
(3.33%)
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Tara Chand Infralogistic Solutions Ltd. (TARACHAND) - Chairman Speech

Company chairman speech

Dear Valued Stakeholders

The Fiscal Year 2020-2021 was a period of unprecedented challenges with the deadlyCovid-19 pandemic creating havoc across the globe. The vastness of the impact of thepandemic on human life businesses and economies across the world is well known to all.

The entire Nation started the FY 2020-2021 in a state of complete lockdown thatcontinued into November 2020 with slow easing up of restrictions across the country. Thesecond half of the year started with a glimmer of hope to counter the drastic growth inreal GDP of the first half. There was positive activity seen on infrastructure projectsactivity re-opening with much gusto by the Government of India. The last quarter did seemto pick up pace that helped the GDP to rise just slightly out of the negative territory.However the even deadlier second wave that kicked in with full force in March 2021 nippedall the positivity bringing back dark clouds of fear and uncertainty throughout thecountry.

During these toughest of times the words of the tenth Sikh Guru Guru Gobind Singh -"Nischay Kar Apni Jeet Karoon" (loosely translates to "Determined to Winagainst all odds") became the solemn vow throughout the company. I would like tothank the sincere dedication and commitment of the all the members of the Tara Chandfamily who contributed and continue to do so in our fight against the challenges broughtupon by the Covid-19 pandemic.

Your company focussed its energies on securing new orders to ensure a healthy orderbook to make up for the lost time during the pandemic. As a company we decided to focuson concentrating our efforts to procure orders in the regions that we had alreadyestablished our strong presence. Your company was instrumental in strengthening its orderbook by addition of orders of INR 225 Crores. Amongst this the largest order was won fromRashtriya Ispat Nigam Limited for the logistics of about 5Million Tonnes per annum ofSteel at its Central Dispatch Yard Vishakhapatnam Steel Plant Vishakhapatnam. Theexecution of this five-year contract has begun in March 2021. Over the last three yearsyour company has steadily progressed as an infrastructure development solution provider ofchoice by its clients across the country. This is evident from the rising share of thissegment in our revenue mix as it clocked a 59% share of the company's top line in FY20-21.Your company was the first-choice service partner for construction of hydraulically boredcast-in-situ piles for the first ever Bullet Train Project (High Speed Rail) of India.Your company was awarded the contract in the last quarter of FY 2021 while it executedthe first working pile of the 87km long Package C06 of the Bullet Train project in earlyMay 2021. Your company has also been awarded the contract for construction of viaduct ofthe 12km Metro Line 5 Package 28 being constructing from Kalyan to Bhiwandi in the MumbaiMetropolitan Region. The scope of this two-year contract that started in February 2021entails transportation and launching of heavy concrete precast elements totalling to1.75Lakh Tonnes.

The Financial Year 202 0-21 was marred by the Covid 19 pandemic's negative impact. Theimpact can be better appreciated with a comparison of the financial performance of yourcompany for the two halves of the FY 2020-21. Compared for H1FY21 your company's TotalRevenue grew by 66% while registering a whopping 508% jump in Profit Before ExceptionalExtraordinary Items and Tax at INR 6.82 Crores and a phenomenal 380% increase in ProfitAfter Tax at INR 4.00 Crores in H2FY21.

The negative impact led to a slight decline of 2.7% on Y-o-Y basis in the Total Revenueof the company for the FY ended 31st March 2021. I am pleased to inform you that despitethe challenges your company maintained its EBIDTA margins intact at 31%. However the PATMargin dropped to 2.3% from 6.9% in this period driven down largely by the 5.10 Croreshigher depreciation (29.7% Y-o-Y increase) and an exceptional cost of 2.10 Crores.

I am confident that by the end of FY21-22 your company will be able to bounce back tomaintain its growth streak of the pre-Covid era. The results from the first quarter ofFY22 are testimony of this belief. Furthermore we strongly believe that our country isbetter prepared to handle the possibilities and impact of an impending third wave ofCovid-19. I assure you that your company's management and entire workforce is steadfastlycommitted to the service of its clients and more so to the service of this beautifulNation to ensure achievement of the company's goals. We are confident that with ourcontinued efforts your company will be able to rise above the impacts of the pandemic andcontinue to grow on the strength of its foundations.

I along with the entire team at Tara Chand wish for the safety and well being of allour stakeholders and remain grateful to the continued support of our stakeholders.

Kindest Regards
Vinay Kumar
Managing Director

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