It gives me great pleasure in reporting that our turnover and profitability areimproving and we are able to continue to have sustainable growth and development. Theeconomy is improving with favorable global scenario slump in the oil prices improving USand Europe conditions and stable market. The Mechanical Power industry will havereasonable growth in the coming financial years.
The major highlights of our performance during the year are detailed below (all figuresare reported in Rs. in Lacs):
| Consolidated revenue ||: ||23740.65 |
| PIXs EBITDA ||: ||3949.06 |
| Profit After Tax (PAT) ||: ||653.63 |
|FY16 Financial Highlights || || |
| Net Debt ||: ||Rs. 12533.08 |
Interest and Financing cost decreased by 13% compared to previous year.
Capital Expenditure made during the year. Rs. 1882.58 lacs as compared to Rs.3804.82 Lacs in the previous year.
As a business we viewed 2015/16 as a year of improvement. We have growth of 6.93 % inthe turnover and 11.93% in the profitability as compared to previous financial year. Wehave enough capacity to cater to the need of the growing automobile market.
I see lot of potential for the products of the company both in India and abroad. We areputting all efforts to consolidate our position in the market. The cutting edge technologyadoption in manufacturing and packing will improve quality of products and save costs. Weare making our plant fully automated to save cost and improve upon production andproductivity. We have hired best talents available in the industry both in production andmarketing and expect reasonable growth in the production sales which in turn will improveupon top line and bottom-line.
We are optimistic of turnaround of the global economy vis a vis Indian economy andgrowth and development of the automobile industry machinery manufacturers and agriculturewhich will bring positive impact in our turnover and profitability.
The global scenario is changing day by day with cut throat competition and constrainedmargin is hampering product marketability. The products are marketable if it is innovativeand falling in special category. The product research and development and quality controlwill only save us in grave situation and we are hopeful that our products will improveover the period of time and pass through the testing phase through which industry ispassing.
We would like to thank all our investors for their continued support and encouragementand our employees for committing their talent and tenacity to our success. We look forwardto reporting continued strong performance going forward.
Chairman & Managing Director