It gives me immense pleasure to share with you an update on performance of your Companyfor the F.Y. 2019-20. This was transformative year for your Company as the Company gotMigrated from the NSE EMERGE Platform to NSE Main Board on August 4 2020. Your companyhas taken several pre-emptive measures at various operational levels to ensure sustainablereduction in the cost of production with increased level of efficiency and output. Hencein nutshell I would like to congratulate all the stakeholders on the excellentperformance of your company in terms of overall growth in F.Y. 2019-20.
While year 2020 is a year of extreme economic challenges for the world a situationaggravated almost beyond measure by the unprecedented COVID- 19 pandemic your Companycontinued to play on its strengths and posted a stable financial performance. I would liketo extend my sincere gratitude to each and every team member of Worth for their relentlessefforts who have responded beyond their call of duty during the nationwide lockdown. Ourteams have demonstrated a strong sense of responsibility and have ensured that we continuewith business as usual despite the hardship.
I am pleased to inform you that this year Your Company earned a net profit of Rs.140002721/- as compared to Rs.129813092/- in the previous year. Further during theYear the Board of Directors declared Interim Dividend at the 10% on the Equity Share ofthe Company and the Board also recommend final dividend at the 12.5% for the F.Y. 2019-20subject to your approval.
During the F.Y. 2019-20 Your Company spent Rs. 29 Lacs towards Corporate SocialResponsibility through NGOs for different projects like promoting education betterment ofchildren with special needs and providing support to individuals with mental challengesand autism to bring them in mainstream society through capacity building.
We cherish the long-lasting and time-tested relationships with our customersemployees regulators business partners government lenders and other stakeholders. Inconclusion I would like to thank our stakeholders for their continued faith in ourabilities and their constant support. We will continue to create long-term sustainablevalue for all by being consistent and flexible and I look forward to an exciting journeyahead together.
With Best Wishes
Raminder Singh Chadha
Chairman & Managing Director