On behalf of the Board of Mitsu Chem Plast Limited it gives me great pleasure topresent the 29th Annual Report and share with you an update on the overall performance ofyour Company in FY 2016-17. At the very outset I sincerely thank each of you forentrusting so much faith in the Company and its vision. Thanks to your support we got anexcellent response to our IPO with 1.43 times subscription! I welcome you to be part ofthe Company's long term growth. Your Company Mitsu Chem Plast Limited is a backwardintegrated Company with manufacturing and marketing capabilities in Blow Moulded &Injection Moulded Plastics Articles such as Rigid Packaging Hospital Furniture Parts& Accessories Automotive and Medical Device and Infrastructure Products. Your Companybegan its operations in the year 1990 with a manufacturing plant at Boisar Tarapur. Overthe 27 years we have expanded our scale and scope of operations and currently we haveenlarged our wings up to Four manufacturing units situated at two (2) units at BoisarTarapur (Maharashtra) one (1) unit in vasai (Maharashtra) and one (1) unit in Rudrapur(Uttrakhand).
We are happy to announce that our financial and operational performance in FY 2016-17was outstanding re ecting in record net pro t. Your Company has moved forward stronglysustained the performance and achieved revenue from operations of Rs.11172.36 Lakhs. Theincrease in revenue is contributed by growth in sales of various Products forPharmaceuticals Chemicals Hospital Furniture Industries & Automotive Industries. InFY 2016-17 Mitsu continued to focus on its strategic pillars of Engaging to customerrelationship building Value addition to customer's business with our quality products andHighly engaged and dedicated work-force in order to achieve our goals and sustain ourstrong position across our markets. At Mitsu it is not only delivering the numbers thatmatters but also conducting business with integrity and respect.
The progress we made in streamlining our production infrastructure and extending ourreach and customer service while reducing cost with our cost leadership initiatives hashelped Company to maintain its growth trajectory. Our focused approach customerrelationship building value add to customer's business with our quality products highlyengaged and dedicated work-force allowed us to maintain and reinforce our strong positionacross our markets. On behalf of my colleagues on the Board of Directors I take thisopportunity to thank all our employees for their tremendous efforts and passion thatenables continuous improvement and growth. I also would like to place on record thevarious hands-on work undertaken by members of the Board and senior leadership team inmaking far-reaching changes which strengthen the foundational roots of our business. Iwould also thank all our customers business partners bankers financial institutionsvendors and all stakeholders for their continued faith and trust. Finally a big thank youto all our shareholders for your continued belief in Mitsu.
We look forward to the forthcoming years with enthusiasm and optimism as we remainedfocused on delivering value to all our stakeholders.
With best wishes
Chairman and Whole Time Director