It is a sheer pleasure to present you with our rst and maiden annual report postlisting on NSE Emerge last year. It has been a very momentous year for our company and Iwould like to update you with the same.
In around 6 months of our listing we completed our primary object of the issue -commissioning our manufacturing unit for stainless sheet polishing and nishing. By the endof the nancial year we had completed our trial productions and initial rounds of testingplant and machinery. This unit will be commercially active for production for FY20. As youmust be already aware this unit is backward integration for our existing productportfolio and our core products - elevator doors and cabins. This unit will strengthen ourproduct offering for our core products we also plan to do job work of stainless sheetpolishing at this unit.
While commissioning of the new manufacturing unit remains the primary highlight of theyear gone by it is important to mention that our existing Udhna unit recorded fantasticgrowth in operations. We recorded a 49% increase in revenue from operations over the lastyear this entire growth was on account of existing operations. In FY19 our existingoperations took the entire load of our new capital expenditure which led to soft growthin pro ts. However we are con dent of running pro table operations from both of our unitsin the coming nancial year.
I am also happy to report that the board of directors has recently recommended a bonusissue for our shareholders in the ratio of 1:10. I conclude by saying that we see asustained growth opportunity for our range of products and that we are constantlyexploring new opportunities.
I would like to thank all our stakeholders and our team for their continued supporthardwork and belief in us.
Mr. Amar Doshi