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Executive Chairman

Dear Shareholders,

I hope this letter finds you in good health..

This has been another important year for us. FY21-22 was a turnaround year, which had been significantly impacted for the past few years due to COVID-19 pandemic, changes in regulatory norms, global geo political issues, liquidity crunches and overall GDP slow down. In-spite of these challenges in the business, promising signs of growth in FY22 was evident in every segment supplemented by a set of strong fundamentals with a steady sign of recovery in the overall economy, rising industrial outputs and increased infrastructure spending. Not only have we managed the ongoing impact of the COVID-19 pandemic, we have also demonstrated strong resilience by overcoming significant challenges that the Company experienced. Thanks to extensive planning and agile response coupled with the relentless commitment and dedication of every member of the Kirloskar Electric family in these challenging and unprecedented difficult times.