Dr. Pushvinder Jit Singh – Managing Director

In addition to the protective equipment, your company had also started its research to develop Gloves with antibacterial coating. The aim of this research was to avoid spreading of virus through human contact. It was expected that the coating on the product will stand up to 200 washes & if the person is using the same, the usage of hand wash & sanitizer can be reduced to a great extent. However, due to non-availability of any specific testing facility to validate the concept, Tynor was not able to launch the product in the market for public consumption. In these critical and uncertain times, your company responded quickly and efficiently to meet the challenges at hand. Tynor promptly evolved a COVID-19 Risk Management Plan and formed COVID-19 warrior committee under the guidance of the senior management to tackle the challenges resulting from the global pandemic. FY20 highlights Your company continued the growth trajectory in FY20 with total revenue growing by 23.5% to INR 21859.47 lakhs. EBITDA % stood at 15.3% amounting to INR 3252.3 lakhs. The net profit of your company for the financial year is INR 2092.88 Lakhs which is 78% higher than the previous year’s net profit. Overall outlook Tynor will continue to focus on growing each vertical faster than the market in which we operate. We expect this momentum to continue although the COVID-19 pandemic and lockdowns may throw up some uncertainties in the near-term. We have major investment plans over the next few years in building this business to achieve our goal of total revenue of INR 1000 Cr. by FY2026 and are now focusing on the commercial execution to ensure that future cash flows justify these investments. Despite our proactive COVID risk response initiative, we do estimate some softening of sales in FY20-21 due to the lockdowns and economic slowdown across various countries and expect sales growth of 10% in FY20-21. Our endeavor will be to ensure that we are the least impacted. Our talented employees have done a remarkable job of ensuring business continuity despite the multiple disruptions resulting from the COVID-19 pandemic and lockdowns. All our teams have worked tirelessly to:

1. Maintain adequate supply of our products in various markets.
2. Ensuring overall productivity without compromising on safety protocols

Key focus areas for us will be:

1. Employee protection and keeping workplace COVID-19 free.
2. Leveraging SAP implemented in April 2020.
3. Supply chain protection, ensuring optimum utilization of our factories and working closely with vendors to ensure continuity of supply.
4. Continued focus on new product launches.
5. Focus on cost optimization and targeting higher productivity.

We are also grateful to our Board of Directors for their guidance and support in these uncertain times. We are thankful for your support as a shareholder and we hope that you will continue to repose your confidence in us in future as well. Strategic Partners Thuasne Participation SAS, France: Thuasne is one of the biggest manufacturers of Orthopedic soft goods in France and has manufacturing facilities spread in various countries of Europe and USA. Thuasne comes amongst Top 5 Orthopedic Manufacturing firms of the world. Thuasne is more than 170 years old company and has forward integrated from being a specialized fabric manufacturer to an orthopedic soft goods manufacturer. Light House: Lighthouse is a mid-market private equity firm focused on growth investments in India’s consumer sector. It has backed several firms including Bikaji Foods, Aqualite, CERA, Fabindia, Indian Herbs, Kama Ayurveda, Nykaa, Stylam, Unibic, Polymed, Wow Momo, Capital Trust, Dhanuka, V2 and Xseed