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Universal Autofoundry Ltd.

BSE: 539314 Sector: Engineering
NSE: N.A. ISIN Code: INE203T01012
BSE 00:00 | 25 Jan 65.10 0
(0.00%)
OPEN

65.10

HIGH

65.10

LOW

65.10

NSE 05:30 | 01 Jan Universal Autofoundry Ltd
OPEN 65.10
PREVIOUS CLOSE 65.10
VOLUME 2500
52-Week high 79.35
52-Week low 19.20
P/E 31.91
Mkt Cap.(Rs cr) 66
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 65.10
CLOSE 65.10
VOLUME 2500
52-Week high 79.35
52-Week low 19.20
P/E 31.91
Mkt Cap.(Rs cr) 66
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Universal Autofoundry Ltd. (UNIVERSALAUTO) - Chairman Speech

Company chairman speech

Dear Shareholder

I welcome you all to the 12th Annual General Meeting of 'UNIVERSAL AUTOFOUNDRYLIMITED'. It gives me a great pleasure to share with you an update on the performance ofyour Company for the financial year 2020-21.

In the financial year under review I would like to mention that this year wascompletely full of challenges as the world was facing the worst pandemic in the history of100 years - COVID-19 which has adversely affected world's economy. .

This year we had no production for almost 1.5 months due to nation-wide lockdown weresumed the production from mid of may but as our customers were not ready to work attheir full capacity which directly impacted our business.

First half of the year was very challenging for all of us and we were bound underGovernment guidelines so we could only run production at 30-40% of the total capacitytill the end of the first half.

Second half showed us ray of hope as customer schedules/orders were increasing andfighting with covid-19 situation and migrant workers we took all precautionary measureswhich enabled us to achieve 70% of the production in the second half.

Company turnover as compared to last financial year increased by 44% and profit of 2.06cr. was booked by the company as compared to 4.05 cr. loss in last financial year.

Dear Shareholders in the last AGM I have told you that we have learnt a lesson fromthe present recession that we should not depend on one sector i.e. Commercial Vehicle anddiversify our business to other sectors i.e. Tractors and Earth Movers also to facerecessions/slowdowns as we faced in Financial Year 2019-20. We worked hard and added newcomponents / parts of International Tractors Ltd. (Sonalika) Case New Holland (CNH)Tractors Escorts Kubota India Pvt. Ltd. and parts of JCB which has directly increased ourportion of turnover in earth movers and tractors segment.

Dear Shareholders I would like to share that a feather in the cap of your company wasadded in this year we got our company approved by RDSO (Research Design and StandardOrganisation Indian Railways (Government of India Enterprise)) as a class "A"foundry which enable us to BID in Railway Auctions we can now focus on Railway suppliesas it is a fastest growing segment of Indian Economy.

Dear Shareholders now your Company has four sectors to work rationally: CommercialVehicle Earth Movers Tractors and Railways which will enable us to face any situationslike recession in 2019-20 in commercial vehicles.

Most importantly I would like to thank you all and our shareholders for youroverwhelming trust and confidence that helped and motivated us to pursue an agenda that isin the long-term interest of the company and hope that this mutual relationship willcontinue to prosper in long run also.

I would also like to thank our bankers Citi Bank every members of universal teamAuditors Directors and Independent Directors for their overwhelming support without whichit was not possible to achieve the goal.

Best Regards
Kishan Lai Gupta
Chairman
DIN:00295685

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