Greetings to all my Dear Shareholders.
It is no secret that ‘when the going gets tough, the tough get going! The year gone by aptly describes this spirit in your company and its hardworking team of employees. Like several sports persons and leaders from different walks of life, we too when faced with adversity showed RESILIENCE.
As we faced immense difficulties in operating our US plant while reducing losses, we were seized of the priority of achieving overall growth and profitability. New capabilities created in the India plants helped us achieve an increase in volume, revenue and profits from the geography. This to some extent helped us in overcoming the setback in US for the time being. Our cash profit before tax stood at INR 65.53cr vs 73.40 cr and cash flow from operations at INR 48.97 Cr vs 61.07 Cr for the year gone by. All this while our other income fell by 8.73 Cr to INR 18.29 Cr.