It gives me immense pleasure to share with you an update on performance of your Companyfor the F.Y. 2018-19 and I welcome you all for the 24th Annual General meeting of theKRANTI INDUSTRIES LIMITED. This was the transformative year for your company as thecompany got Listed on SME Platform of Bombay Stock Exchange on 28th Feb 2019.
In the financial year under review your company has seen growth in all aspects be itrevenue or profit. We have grown as a company. Your company has taken several pre-emptivemeasures at various operational levels to ensure sustainable reduction in the cost ofproduction with increased level of efficiency and output.
Hence in nutshell I would like to Congratulate all the stakeholders on the excellentperformance of your company in terms of overall growth in F.Y. 2018-19. It reinforces inmy mind the continued pleasure in serving as the Chairman & Managing Director of thiscompany.
With the investment in equity shares of M/s KRANTI SFCI PVT. LTD. by acquiring 30%stake in this company making it our associate company. Your company has extended itsfootprint in Rajkot (Gujarat).
Further I would like to mention that the Company is in the process of increasing itsproduction capacity and therefore the company has acquired Land admeasuring 3837.50 Sqmtrs situated at Gat No 1121 to 1123/1126 to 1129 Plot No 4 Pirangut Tal. Mulshi DistPune 412115 as per the decision made by the Board of Directors in meeting dated 20th March2019. We are in process of setting up Manufacturing unit at the above location. Inaddition to this the company has increased the production capacity by adding new machinesin Q1 of FY 2019-20 in existing manufacturing units.
We intend to build on this base we have set for ourselves and embark on our growthjourney with the view of maximising every opportunity. At the same time we are buildingour capabilities by fine tuning our processes to improve overall ability to deliver on ourpromises.
Our historic success would not have been possible without the unstinted support andco-operation of all and on behalf of the Board I would like to place my deep sense ofgratitude towards all stakeholders.
Next couple of years are going to be challenging for the automotive industry due to theintroduction of new-age regulations. Stringent pollution norms and fuel efficiencyimprovement will surely transform the traditional business practices. Being on areasonably well-placed position the Company is committed to help all its present andpotential customers with exquisite products and services with the same vigour as alwaysit had been. We believe that the automotive industry is flooded with a plethora ofopportunities and challenges complementing each other.
The management will continue to push for operating results and we will continue to worktowards realizing your dreams and aspirations of generating better returns on the capitalemployed.
Thank you for the trust reposed in us and for being invested in KRANTI INDUSTRIESLIMITED.
With warm Regards
For and on Behalf of Board of Directors
KRANTI INDUSTRIES LIMITED
(Chairman & Managing Director)
Date : July 26 2019