It is my privilege to present the 24th Annual Report of your company for the year endedMarch 31 2016. In a challenging external environment your Company along with itssubsidiary performed well and delivered another year of consistent competitiveprofitable and responsible growth.
India is still a positive spot in the midst of a weak global economy. Despite of weakglobal scenario Indian economy in 2015-16 grew by about 7.5%. The Manufacturing sectorhas emerged as one of the high growth sectors in India. The Government of India hadlaunched the "Make in India' program to place India on the world map as amanufacturing hub and give Global recognition to the Indian economy. The overall aim is tobuild best-in-class manufacturing infrastructure by enabling investments boostinginnovation encouraging skill development and strengthening intellectual propertyprotection.
In the year 2015-16 we saw considerable changes in the external business environmentthrough various initiatives run by the Government such as Make in India Digital IndiaStart-up India and Ease of doing business etc. During the year the commodity costs andinflation continued to come down the second consecutive monsoon failure and resultingdrought meant a distressed rural demand scenario in several parts of the Country. In thisscenario your company remained focused for his motto of "Save Trees" by savingaround 5 to 7 Lakhs Trees by manufacturing all wood substitute products.
During the Financial Year 2015-16 gross revenue of the company decreased by 5.28% toRs. 6881.44 Lakhs (previous year 7264.83 Lakhs). Despite this the net profit before taxand net profit after tax increased by 15.71% and 16.85% to Rs. 497.79 Lakhs and Rs. 325.44Lakhs respectively (previous year Rs. 430.19 Lakhs & Rs. 278.50 Lakhs.)
In Consolidated Level gross revenue for the financial year 2015-16 also decreased by !3.58% to Rs. 7478.08 Lakhs (previous year Rs. 7756.16 Lakhs). Despite this Your Companyachieved its highest ever net profit before tax & after tax to Rs. 550.23 Lakhs andRs. 361.17 Lakhs (previous year Rs. 519.49 Lakhs & Rs. 339.78 Lakhs) with a growth of5.92% and 6.30% respectively.
Your Company has also expanded by launching a completely new brand called Dstona whichincludes marble substitute interior decoration products that are introduced in the Indianmarket for the first time and apart from this we have also launched a new major categoryin our range of UPVC windows by the name of villa windows to cater towards therequirements of our valuable customers.
Let me take this opportunity to thank you all our investors and shareholders for yourconfidence in us and our employees for committing their talent tenacity to our success.It is your trust and commitment that enables our progress and encourages us to strive forexcellence. Wo look forward to continuing along our successful path together with you.
I would like to place on record my sincere appreciation to the Board of Directors fortheir valuable guidance and support. I and my colleagues on Board place on record ourappreciation for support and guidance received from the Government Stock Exchangefinancial institutions and other regulatory authorities.