It gives me immense pleasure to represent you 29th Annual Report of yourcompany M/s. Zodiac Energy Limited. The world has been changed after COVID-19 Pandemic andhumanity is still struggling to cope up with different mutants of corona virus and waveafter wave are engulfing the globe with huge number of cases. As you all are aware we allare passing through the testing time of COVID-19 pandemic and global shutdown. Globallybusinesses are facing upheaval task to stay afloat and survive the situation.
Fiscal F.Y. 2020-21 will be remembered as the year of COVID-19. We are grateful to thefrontline healthcare workers and other support teams who are selflessly and fearlesslyserving humanity during these challenging times. The silver lining is the success oflarge-scale vaccination in a few countries including India in controlling the pandemicthat is giving hope to humanity at large.
India was relatively successful in managing the first wave of the pandemic outbreak butunfortunately the second wave of Covid- 19 is spreading the virus much more rapidlyacross India including the rural areas which were relatively less impacted in the firstwave. We are cautious and hopeful that with an all-out effort we will be able to overcomethe challenging situation the country is facing. With rapid Vaccination we expect that thethird wave of COVID -19 do not impact India much.
Despite the adverse impact of COVID-19 I am pleased to inform you all that yourCompany has achieved turnover of Rs.100 crore for the first time in its history reflectingrobust growth of 47.20 % in turnover for the financial year 2020-21. Profit After Tax(PAT) has increased to Rs.4.50 crore in FY 2020-21 from Rs. 3.00 crore in FY 2019-20.
This positive performance amid pandemic time was possible mainly on account ofcontinued support of shareholder's and pragmatic leadership provided by the Board ofDirectors. The support at all the levels of operations by all the employees of yourCompany also played crucial role in achieving this result.
I would like to thank the entire management team the work force the bankers and theBusiness Associates of the company for enabling your Company to perform well in thistroubled time. I have also taken this opportunity to thank my fellow Directors for theirimmense efforts in formulating and steering your Company's strategies and policies.
The renewable energy is now replacing the fossil fuel energy and from beingmarginalised source it is fast becoming mainstream energy source. The nations acrossworld are changing their usance pattern to embrace more and more renewable energy sourcesSolar being the major among them.
India is embarked to deploy 450 GW of green energy by 2030 including green hydrogentechnology and your company is prepared for being the part of the journey towards fossilfuel free world. I am confident that your Company will achieve greater heights in thetimes to come and also will deliver long term value addition to all the stakeholdersnamely shareholders customers and employees.
Your company is now qualified for migrating to main board of NSE & BSE and yourcompany is preparing for the same and hopefully it will migrate to main boards in comingtimes.
I thank you all very much and I look forward to receive even greater support from allof you.
With warm Regards