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Zicom Electronic Security Systems Ltd.

BSE: 531404 Sector: Engineering
NSE: ZICOM ISIN Code: INE871B01014
BSE 00:00 | 02 Aug Zicom Electronic Security Systems Ltd
NSE 05:30 | 01 Jan Zicom Electronic Security Systems Ltd
OPEN 1.69
PREVIOUS CLOSE 1.69
VOLUME 88950
52-Week high 3.18
52-Week low 1.04
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.69
CLOSE 1.69
VOLUME 88950
52-Week high 3.18
52-Week low 1.04
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Zicom Electronic Security Systems Ltd. (ZICOM) - Chairman Speech

Company chairman speech

Dear Shareholders

India's GDP in financial year 2019-20 has gone below 7% indicating slowdown since last2-3 years. The private sector is recovering from adverse impact of demonetisation andimplementation of GST. The economy also grappling with liquidity constraints due to focusof all lending institutions on recovery of its bad and stuck-up assets. In March 2020Covid-19 pandemic has reached India resulting in one of the harsh lockdown globally. Thishas affected unskilled labourers and MSME sector badly. The Government has announcedvarious stimulus packages to revive the economy however the impact of lockdown is toodeep for revival of certain industries such as travel hospitality etc. Looking at thecurrent situation the India including many other countries may face negative growth rate.

To revive the growth the Government has given subsidies and stimulus to varioussection of the economy ignoring fiscal discipline. However it will take long time foreconomy to reach its old glory. In order to stop companies from going into liquidationthe Government has temporary held-up insolvency proceedings till March 2021 and increasedthe limit of default from Rs. 1 lakh to Rs. 1 crore.

The Company is working relentlessly with various potential investor(s) through variousmodel of investment to resolve the debt situation both in India and Middle East so thatCompany can put together its balance assets and revive its operations. Zicom SaaS isundergoing Corporate Insolvency Resolution Process (CIRP) and the resolution plans havebeen submitted by prospective resolution applicants.

Team Zicom is working passionately together in this difficult circumstances to keep thebusiness and its value intact.

On behalf of the entire Zicom Team I'm sincerely thankful to all stakeholders andwell-wishers for sticking with us through a challenging year. With your support we areconfident of scaling new heights in the coming years.

Manohar Bidaye Chairman

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