Dear Shareholders, Last year was like no other in recent history. As the situation began to improve and businesses started recovering in early 2021, India found itself at the centre-stage of the second wave of the COVID-19 pandemic. The unforeseen spike in cases overwhelmed the nation, consuming its resources and healthcare infrastructure, compelling many States to return to complete or partial lockdowns. We have lost cherished employees and feel and share the grief of their families. Amidst this humanitarian crisis, we salute the spirit and tireless efforts of countless frontline workers in combatting the virus. With the vaccination programme well under way, there is hopefully a path that will allow us to live alongside this awful virus. The impact of the pandemic on the global oil industry was severe and unprecedented. World oil demand has partially recovered but it is still a very turbulent and dynamic period. The environment has been very challenging for Nayara and we are by no means unscathed. The performance that has been delivered and our financial position is attributable to the courage and agility of the Nayara team, its leadership and the support of our shareholder.
Changes for the Future At the end of this financial year, we announced key leadership changes to drive performance and deliver our strategy over the coming years. Mr. B Anand the erstwhile CEO of Nayara Energy played a very crucial role as first CEO of Nayara Energy in its new avatar. I would like to personally thank Anand for guiding the company through its post-acquisition transformation journey and laying a strong foundation to translate our vision to strengthen India’s energy security. Starting April 1st 2021, Dr Alois Virag has joined Nayara Energy as our new CEO. I welcome him to lead the Company through the next exciting period. Alois is a senior and highly experienced oil downstream and petrochemical executive having spent more than 30 years at OMV, most recently as a senior vice president running their Middle Eastern and Asian interests. I remain confident that Nayara Energy will continue on its path to strengthen India’s energy and petrochemical security, while also supporting the near term fight against coronavirus. We remain committed to delivering performance on behalf of our shareholders and in the interest of the wider community we engage with.
We are Nayara Energy
With the agility of a start-up and punching power of a global enterprise, Nayara Energy is perpetually motivated to reimagine every stage of the hydrocarbon value chain – from refining to marketing. And, we are gearing up to delivering crude to chemicals too.
In this age of acceleration, we are drawing on the deep knowledge to deliver excellence, every step of the way.
As the fastest growing pan-India fuel retail network, we are powering India’s growing energy demand by expanding our retail footprint at a massive pace.
We are making a tangible difference with our products, services and sustainable development initiatives to energize lives in our ecosystem. This is what makes us a truly integrated downstream energy company that challenges the status quo, every step of the way.
Pivotal in our journey towards an ‘extraordinary’ future is our energetic, diverse and ethical workforce. By working together relentlessly, we are confident of succeeding in the ever-changing energy landscape, today and tomorrow.