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Enkei Wheels India Ltd.

BSE: 533477 Sector: Auto
NSE: N.A. ISIN Code: INE130L01014
BSE LIVE 15:40 | 18 Aug 386.45 -5.80
(-1.48%)
OPEN

387.00

HIGH

393.00

LOW

360.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 387.00
PREVIOUS CLOSE 392.25
VOLUME 1989
52-Week high 464.00
52-Week low 146.00
P/E 115.70
Mkt Cap.(Rs cr) 575
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 387.00
CLOSE 392.25
VOLUME 1989
52-Week high 464.00
52-Week low 146.00
P/E 115.70
Mkt Cap.(Rs cr) 575
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Enkei Wheels India Ltd. (ENKEIWHEELS) - Director Report

Company director report

To

The Members

We are delighted to present the Eighth Annual Report together with the AuditedStatement of Accounts for the year ended 31st March 2017:

Financial Highlights:

The Company's financial performance during the year 2016-17 as compared to theprevious year 2015-16 is summarized below:

(` In Million)
Particulars For the Year ended March 312017 For the Year ended March 312016
Net Sales 4067.17 3854.86
Earnings before exceptional items extraordinary items interest tax depreciation and amortisation (EBITDA) 336.82 400.45
Less : Depreciation 217.33 256.47
Less : Financial Expenses 30.48 51.50
Profit / (Loss) before exceptional and extraordinary items and tax 89.01 92.49
Less : Exceptional and Extraordinary items (121.09)
Profit / (Loss) before Tax 89.01 (28.60)
Less : Provisions for Taxes 46.89 26.11
Profit/(Loss) after Tax 42.12 (54.71)

REVIEW OF OPERATIONS:

In the financial year 2016-17 your Company has made significant way towards the goalof productivity up. Due to Demonetarization announced by Central government on 8thNovember 2016 overall 2 wheeler market slowed down. Therefore Company's 2 Wheeler wheelsorders took hit to some extent in third quarter however those were recovered immediatelyin the fourth quarter. On the other hand Company's orders for 4 Wheeler was blessed withthe favorable Indian market situation and thus Company went for maximum orders &production numbers. Overall your Company landed with the sales of total 2.27 millionwheels during the year under review. Your Company had posted 6% growth in terms of salesvolume as well as sales value in year under review as compared to last year.

TURNOVER

During the year under review the Company has recorded Gross Sales of `5216.58million(net Sales of ` 4067.17) in current financial year as compared to Gross Sales of `5175.56million (net sales of `3854.86 million) last financial year. There was a increaseof 6% in sales of the Company as compared to last year. Despite of Demonetarization inthird quarter your Company has managed to maintain the growth in year under review mainlydue to good orders from 4 wheeler manufactures.

CAPITAL

During the year under review Company has allotted 743835 Equity Shares onPreferential basis on 16th January 2017 against share application money of `141328650 at ` 190 (including the premium of `185) each received from itsHolding Company i.e. Enkei Corporation Japan after obtaining requisites approvals fromall competent authorities.