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Tirupati Forge Ltd.

BSE: 535021 Sector: Engineering
NSE: TIRUPATIFL ISIN Code: INE319Y01016
BSE 05:30 | 01 Jan Tirupati Forge Ltd
NSE 00:00 | 30 Oct 28.55 1.20
(4.39%)
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Tirupati Forge Ltd. (TIRUPATIFL) - Chairman Speech

Company chairman speech

Dear Stakeholders

It gives me immense pleasure and privilege to place this seventh annual report beforeyou with a sense of thankfulness and gratitude to all associated with the Company. Yourtrust and faith in the Company are inspirational force for Tirupati and it encourages usto work hard and harder in the growth process of the Company.

2018-19 has been an exciting and eventful year with significant achievement. In thisentire journey customers have been at the soul of our initiatives and I sincerely thankthem for their confidence kept with us. Without such immense support there is nopossibility of progress of company. I feel a strong sense of responsibility to sustain andstrengthen relationships with our consumers partners stakeholders banker andcommunities. This is the appropriate occasion and I would like to thank all employeespartners stakeholders and bankers for unstinted trust and confidence in the company.

At this point of time I have the pleasure and privilege to share main highlights ofthe last financial year's performance (2018-2019) and outlook for the next financial yearas mentioned below:

? Total Revenue from Operations increased from Rs. 207907254/- of previous F.Y2017-18 to Rs. 418391640/- of the reporting financial year.

? Profit before exceptional & extra-ordinary items and tax increased fromRs.21309954/- of previous F.Y. 2017-18 to Rs. 58532616/- of the reporting financialyear.

! Net Profit increased from Rs. 15452582/- of previous F.Y. 2017-18 to Rs.41893911 /-of the reporting financial year.

•fr Earnings Per Share (EPS) for the F.Y. 2018-19 is Rs. 7.21/- as compared to Rs.3.57/- of F.Y. 2017-18.

From above information it is revealed that In spite of various disruptive challengesthe "Tirupati" is able to achieve its goal. The automotive industry is facingdisruption due to introduction of electric cars. Due to heavy promotion in favor ofelectric cars the present automotive industry is passing through heavy threat of businessloss. It is very hard to sustain in such adverse condition. I feel immense pleasure thatdue to collective action of our team the company managed to achieve its milestone. Theturnover of the company is almost more than double for this financial year. The figures ofprofit also showing enormous growth.

I would like to announce that in month of March 2019 the shareholders has approved theissue of 1188000 Warrant which is convertible in Equity Shares on later date. I want toinform that the Board of Directors has decided to issue bonus shares to the Share Holderof the Company in its second year after listing of the securities.

The company got listed on Emerge Platform of National Stock Exchange of India Limited(NSE EMERGE)on Thursday October 12 2017. The Company is planning to migrate itself underthe automatic migration route of Stock Exchange after completion of its two years from thedate of listing.

I would like to present my gratitude for the assistance and support from BankersInvestors Vendors and most importantly our customers. They all are highly valuable and Iexpress my respect deep regards and Heartfelt thanks to them without whom the wheels ofprogress cannot move at desired speed.

At last I want to conclude my message with the quote.

LOOK IN THE MIRROR THAT'S YOUR COMPETITION.

The above quote is making me so happy because it reveals that there is only onecompetition which is with you only. I strongly believe that it's easy to compare yourselfagainst other people. But when you compete against other people you judge yourself basedon their values and metrics. The problem with this is even if you win you only dosomething that's important to them not you.Life is a competition but it's not a raceagainst anyone else. Rather the real journey is only against your own self. The purposeof life shall to know unrealized potential which hide in yourself. The quote reveals to gobeyond the boundaries you ever dream about and our team always working hard to make itpossible.

Sd/-

Hiteshkumar G. Thummar

Chairman & Managing Director

[DIN: 02112952]

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