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Vera Synthetic Ltd.

BSE: 535068 Sector: Industrials
NSE: VERA ISIN Code: INE709Z01015
BSE 05:30 | 01 Jan Vera Synthetic Ltd
NSE 05:30 | 01 Jan Vera Synthetic Ltd

Vera Synthetic Ltd. (VERA) - Chairman Speech

Company chairman speech

Greetings from VERA!

I am delighted to once again be a bearer of good news and report another year of goodperformance at your company.

We are incorporated in India and all of our assets and employees are located in India.As a result we are highly dependent on prevailing economic conditions in India and ourresults of operations are significantly affected by factors influencing the Indianeconomy. Factors that may adversely affect the Indian economy and hence our results ofoperations may include:

• Any increase in Indian interest rates or inflation;

• Any scarcity of credit or other financing in India resulting in an adverseimpact on economic conditions in India;

• Prevailing income conditions among Indian consumers and Indian corporations;

Our people strategy has always been to recruit and retain people withleadershipqualities. We invest in our people and believe they are one of the major reasonsfor oursuccess. We believe that growth of our people precedes the growth of the company.Wepromote leadership within our ranks by offering people greater responsibility withthefreedom to perform to their best.

Our growth story to my mind has been largely due to our Unique Business model as wellasour striving excellence. We have great vision and power of innovation in the field offishing Net Agriculture Net Ropes Twines Yarn and Taps. We draw our strength andquality from the art manufacturing facilities. Also the latest imported machinery fromChina for manufacturing of Fishing and Agricutural Net.

During the year your Company have significantly poured efforts and as result theOperational Income of the Company has been increased to Rs. 342042910.00 compared to Rs.222511077.00 in the previous year.

I would also like to declare that our desire for future expansions throughincreasedproduction by new Machinery and to improve the depth of our business to providethe desiredgrowth strategy still prevails and we are constantly surveying the horizon inthis regard.

I would like to conclude with a sense of confidence and strong optimism that we arestrivingand will continue to strive for a sustained and enduring growth across our variousproduct mix.

I take this opportunity to express my sincere thanks to all the shareholders for theircontinuedtrust in the Board of Directors and the Management of the Company. On behalf ofthe Company I would also like to thank all our stakeholders - customers dealerssuppliers other business associates the Government and regulatory agencies and employeesfor their invaluable support and co-operation in the year gone by and expect similarsupport in the years to come.

Thank you.

SD/-

Sunil Makwana

(DIN:00245683)

Chairman & Managing Director

.