It is with deep sorrow that I write to inform you regarding the passing away of ourbeloved Founder & Chairman Emeritus Shri Ashwin Parekh. On behalf of the Board Membersand the shareholders I salute the man who has built our past strengthened our presentand blessed our future. His blessings will forever guide us to the success and growth hehad envisioned for Acrysil.
In the financial year 2018-19 Acrysil Ltd. achieved even more success as we increasedour line of products and gained a stronghold in different markets. By introducing newtrends and keeping up with the expectations of our customers Acrysil has taken anotherstep in becoming one of the most dominant companies in the industry. By focussing oninnovation and striving to make superior products Acrysil has become even bigger in termsof stature and influence.
It is my belief that our strong foundation primes us to accomplish our short-term (INR300 cr.) medium-term (INR 500 cr.) and long-term goals (INR 1000 cr.). It is ourendeavour to achieve them by fostering human capital marketing the brand expanding ourinfluence increasing capacities reinventing ourselves and growing our product line.Hence we look to redefine the industry by continuing our successful stride and prove ourdedication towards our investors customers employees and the society.The year wasmarked by achievements and product innovation. Having existed for more than four decadesour products have become reflective of our hard work dedication and attention to detail.From sinks to bathroom appliances Acrysil is well on its way of redefining kitchen andbathroom appliances.
Acrysil has performed consistently well over the years and in FY 2018-19 the companycontinued its run on the back of its superior products and consumer trust. Numerous sinkshave been given new looks and colours to make them trendy.
Acrysil has been in the kitchen appliance market for more than three decades and hassteadily achieved an enviable stature. From quartz sinks to bathroom appliances ourprogress in the industry has been an example of increasing value and perceiving the mindof the consumers regarding all categories of products in our portfolio. Our financialperformance is evidence to our improvement over the last financial year as we recorded anincrease in consolidated Earnings per share of 6.64 (F.V. Rs 2/- per share) and increasein consolidated Profit AfterTax by 42.81%.
It is evident from our performance over the years that we bank upon new productsdeveloped by our research and development team. The thought behind innovation is toincrease the value of a certain product in a way never considered before. Acrysil's modernproducts provided impetus via its market presence make way for a home run as theycapture every requirement of the user. An important part of modernisation is visualisingthe future and all our products are loaded with features which pave the path for ourupcoming endeavours.
The concept of 3D tiles is entirely new to the Asian market while it has been verypopular in the US. 3D tiles are built to offer the most premium bathroom experience to theconsumers. It is a matter of pride for Acrysil as we are the only company in the world tooffer such a product. With technology like Sani-Q being central to 3D tiles it is ourdedication to take the industry a level up.
Sternhagen one of the brands under Acrysil is synonymous with the most exquisite andpremium bath experience one can have. The cutting-edge technology and designs are meant toimpress while being durable due to being built out of high strength composite quartz. Abrand-new SH series has been launched which is economical and is aimed at getting moreproject orders. Additionally we presented Relax 06 a new shower range Polo and Opale arange of new ceramics Platz sinks a new ceramic vanity basin urinals in black colourand Golden and Seerose faucets. For Carysil an affordable brand of Acrysil which ispopular on a global scale we launched numerous new projects. Miracle a palm motionsensor and oil collector Sand 90 a filter less and oil collector Sam and Van oilcollectors with auto clean capabilities are few of the new products we now offer in themarket. The ovens in our product portfolio have been upgraded to new features to keep upwith the trends and we launched new BIO-01 and BIO-02 ovens.
The vision behind Acrysil has been to change the bathroom and kitchen lifestyle ofconsumers. All our products from the latest wine chillers to quartz sinks are wellreceived and the company has left a mark in the industry pertaining to creativity andexcellence. According to the latest trends the kitchen and bathroom industry is set tomultiply manifold. Keeping this in mind we have decided to explore markets where we areyet to gain a foothold.
Having tasted success in the US European and Asian markets Acrysil is making effortsto foray into new markets like Latin America. A sign of positivity is that the customersare increasing which also affirms our stature as brand which pays attention toinnovation. The plans of expansion will be taking shape from the year 2020 as we look tocapitalise on the presence of our representatives on all major countries of the world.
It is our goal to increase our manufacturing capabilities so as to achieve highergrowth. With new products on the line Acrysil is primed to become the brand associatedwith all segments of the market. This progress will be backed by reinventing and addingnew features to our line of products to make them even more valuable.
Our consistent performance is evidence of the fact that Acrysil has a strongsustainable business growth model. By developing three different products under itsumbrella ensuring their market penetration and keeping the customers satisfied withconstant signature of an organisation on the right track. Your company looks to continuetraversing on this path and capitalising on its strengths so as to enhance our marketoutlook and become synonymous with excellence sustenance and dependability.
At Acrysil we continue to believe that our market opportunities are broader. We aretaking up initiatives to increase sales for all the products. The bottom-line is we areseizing the day to emerge better tomorrow while also working hard to strengthen our coreto make the business operations more flexible.
I would like to thank the employees the shareholders and the government for theirnever-ending support. Our stature and respect in the industry would not have been possiblewithout their continuous motivation and support. We look forward to the same support inthe future.
Chairman & Managing Director