From building strengths to creating value it has been a differentiated journey for usat AIS. It has been a journey of driving efficiencies today while envisioning the needsof tomorrow. It has been a journey of mapping success through good foresight visionaryfocus and a transformational approach aligning AIS to global industry landscape.
As we move forward with renewed confidence in our ability to scale our valueproposition at every step of this journey we do it with a sense of satisfaction at ourperformance for the year gone by. Last year underlined the recovery of our numbers andreflected the expanding portfolio of our innovative products. The year gone by stoodtestimony to the strength of our value-accretive business philosophy while the excitingrange of our new technologically and aesthetically superior glass products showcased ourprowess across the glass value chain.
Without doubt it was an exciting year for your Company and in fact for the industryat large as the Indian economy remained on the growth track led by a decline in oilprices and increase in real income. Positive government interventions and initiativesbacked by a low inflationary environment contributed significantly to the resurgence inconsumer confidence which got reflected in increased consumer spending.
The automotive industry was a key beneficiary of the revival in consumer confidencecreating a positive growth scenario for your Companys Automotive Glass business. TheConstruction sector also witnessed some positivity with good demand for new value-addedvarieties of architectural glass. These positive economic indicators emerged as the keydrivers of growth for your Company which reported Net Sales at Rs 2207.37 crores duringFY 2015-16 as against' 2096.58 crores in FY 2014-15.
EBIDTA increased to Rs 432.31 crores from Rs 343.23 crores while Net Profit went upfrom Rs 42.02 crores to Rs 86.95 crores - an indication of the value accretion we haveachieved in the past one year.
At the root of this value-centric performance was our re-energised focus on enhancingour capacities and capabilities to deliver customer-oriented glass solutions etched intomorrows needs and aspirations. The face of glass is transforming globallycreating new products that are more durable versatile and aesthetically appealing andalso more eco-friendly and economically viable. Keeping pace with this transformation weare also continuously evolving to drive higher value accretion for our expanding customerbase as well as our other stakeholders.
During FY 2015-16 we pushed ourvalue proposition through focussed efforts to improveoperational and cost efficiencies. Leveraging the inherent strengths of our
At the root of this value-centric performance was our re-energised focus on enhancingour capacities and capabilities to deliver customer- oriented glass solutions etched intomorrows needs and aspirations. The face of glass is transforming globally tocreate new products that are more durable versatile and aesthetically appealing and alsomore eco-friendly and economically viable.
business model we further re-engineered some of our systems and processes to make themmore efficient and effective. With customer delight and value at the centre of our growthcharter we raised the bar even higher to deliver holistic product and service offeringsacross our business segments. In a year packed with possibilities we brought in increaseddiversification and higher efficiencies to ensure sustained growth.
Today as we stand at the cusp of a new phase in our progressive agenda we see ahead ahuge opportunity which we are well positioned to leverage. Riding on the improvedeconomic sentiment the glass industry seems poised for good growth. The macro externalenvironment in the developed regions is also showing signs of positivity triggering animproved demand potential.
I am confident that our innovation and efficiency led business strategy will enable usto make the most of the opportunities that we see ahead across our business segmentsparticularly in the Automotive and Architectural glass segments. The outlook for theAutomotive
industry is bright indeed with the consumer preference for luxury and fuel efficientcars expected to push business further in the coming years. The wide and continuedacceptance by our OEM customers to partner with AIS in their new launches during FY2015-16 underlines the strength and value accretion by AIS.
In the Architectural segment glass is fast replacing concrete and other buildingmaterials to add a more dynamic and vibrant dimension to living and work spaces. YourCompany with its portfolio of designer products is ideally positioned to capitalise onthe growing demand for glass in this segment.
Our strong value-driven edge in these segments will continue to expand our customerbase to new markets driven by our strategic brand promotion and marketing efforts. Ourfocus on strengthening our consumer connect through product innovations coupled withconsumer insights and technologically empowering initiatives will also create moreavenues for value accretive growth for your Company.
We shall further continue to augment our value proposition with our service excellenceto enhance the consumer experience of our products. Empowered by our leadership strengthwe are confident of driving greater value for all our stakeholders as we embark on thenext phase of our growth odyssey.
During the year Mr. K. Ayukawa Nominee Director of Maruti Suzuki India Limited (MSIL)resigned from the Board and Mr. T. Hasuike joined the AIS Board. I am sure his experience& expertise will add immense value to our Company.
On this note I would like to express my gratitude to all our stakeholders - customersemployees partners vendors and shareholders - for their collaborative support to ourvalue-accretion efforts.
With best regards