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Techtrek India Ltd.

BSE: 513153 Sector: Engineering
NSE: N.A. ISIN Code: INE892N01015
BSE 05:30 | 01 Jan Techtrek India Ltd
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Techtrek India Ltd. (TECHTREKINDIA) - Chairman Speech

Company chairman speech


Dear Shareholders,

I have a great pleasure in welcoming you all to your company’s 29th Annual GeneralMeeting. In the past couple of years we have laid some very solid ground for building aglobal Data Management Group but first let me recap on how we have got to this position.

TechTrek India Limited started life as Nirmal Metal Fabricators Private Limited (NMFPL)and was incorporated in 1983 It was converted to a Public company in 1985 and listed onthe Bombay and Ahmadabad stock exchanges. It quickly gained a solid reputation as afabricator of precision metal parts and designers and fabricator of control panels forpower plants. It had many firsts in engineering innovations including developingcollapsible cable drums. Unfortunately due to labour and financial problems it closed itsdoors to business in 1999.

During the period 2000 - 2008 some of our promoters incorporated another entityTechTrek Technologies India Limited (TTIL) to develop an international data managementbusiness. This has been very successful and has established a global brand withsubsidiaries in the UK, Italy, France and Germany and Partners throughout the world.

In 2008 a strategic decision was made to use the company as a vehicle for a new ITbusiness and appropriately changes the name to Zentronics Technologies Limited. Financewas arranged by leveraging the company’s building asset, while at the same time theobjects of the company were changed from metal fabrication to Information Technology (IT)and IT Enabled Services (ITES). Next we started developing the building from Bank fundingby way of a loan against rental income when a further setback and considerable loss wasexperienced when a fire engulfed the building on 27th July 2005. It took us another threeyears to recover and embark on the IT business.

Currently we are considering the possibility of merging the company with TTIL andconsultants have been engaged to seek an optimum solution. The benefits of joining withTTIL will be considerable and will secure a tangible and profitable future. Accordinglythe company has changed it’sname to TechTrek India Limited.

The Directors’ report and audited accounts for 2013 have shown considerableimprovement with the trading results, up 61 % to 21.8 million INR over the previous yearwith a return to profitability at 1.7 million INR. This augers well for 2014 and beyond.

This excellent change in fortune does not happen by chance. The staff and managementteam led by Mr. Malhotra have done an excellent job for which I would personally like tothank them.

So what about the future? The opportunity to join with TTIL will provide an identityand an opportunity for international growth that your company has not seen in the past.Re-organization and refinancing will be part of the plan being executed by your directors.I am sure that when I report to you next year the name TechTrek India Limited will have amuch higher profile with increased sales and profitability. We are committed to a longterm growth in earnings per share.

Details of all the above aspects of the company’s operations are available in theprinted report of the company. I am thankful to all stakeholders & employees, for kindco-operation during tough times. I look forward to serve you in the coming year.

Place: Mumbai. By Order of the Board of Directors
Date : 2nd September, 2013 TECHTREK INDIA LIMITED
Registered Office :
Plot No. 124, Road No. 17,
M.I.D.C., Marol, Andheri (East), P. M. SHAH
Mumbai – 400093. CHAIRMAN