"At Arfin we have been evolving with the changing times and conditions of themarket. We have been strategically moving our focus towards the high margin value addedproducts while we continue to explore new markets to stay relevant and improve our profitmargins."
We are pleased to share with you the Annual Report of your Company for the financialyear 2020-21. Your Company has achieved Gross Sales of Rs.34695 Lakhs and Profit AfterTax of Rs.402 Lakhs. During the year your Company has sold 20596* metric tons of goodsin compare to 24533* metric tons of goods sold during the financial year 2019-20. YourCompany has sold goods worth Rs.58 Crores to overseas customers during the year in compareto Rs.74 Crores during the previous financial year 2019-20. Your Company has added fewmore export customers in Steel and Automobile sectors. The Company expects to grow furtherin export markets. During first half of the year all businesses were badly impacted due tocountry vide lock down and various restrictions imposed by government on account of COVID-19 Pandemic although your Company has been able to manage well its' business.
During the year second Aluminium Alloy Ingots Plant got operational at DhanotGandhinagar. Your Company has added 12000 metric tons per annum capacity through additionof this new plant of Alloy Ingots to meet increased customer demand. This plant is locatednear existing manufacturing facilities of the Company. Your Company has inaugurated a newCorporate Office during fourth quarter of the financial year 2020-21 with all team sittingtogether in a single office for better efficiency in business operations. This office islocated at Ravi Industrial Estate Billeshwarpura Chhatral which is attached to themanufacturing.
In terms of capacity and potential we continue to remain the India's strongestNon-Ferrous Metal Company with a dominant presence in Steel Automobile and Power sectors.We continue to be driven by the best global practices and our vision to become fullyintegrated Non-Ferrous Metal Company. Our production facilities set up during earlieryears continue to give us strength and confidence in our ability to fulfill our customerdemands in Indian as well as overseas markets.
*Sales Quantity for the year includes 904.58 metric tons (previous year 976.62 metrictons) of quantity consumed for total management contract of one of our customer.
"Our customers have been at the heart of our initiatives and our sense ofresponsibility has strengthened the relationships even further to the point that they showample trust and confidence in the Company."
The demand for base metal looks strong as more countries emerge from the pandemic withstrong recovery anticipated in the global economy. The current demand fundamentals foraluminium and other non-ferrous metal products are robust and future supply will need torespond to increased demand. Copper and aluminium will enjoy robust growth in demand overthe next decade given their importance in transitioning to green energy. We haveconstantly challenged ourselves to deliver more and set new benchmarks in the Industry.With the benefits of volume growth from invested capital yet to reach their fullpotential coupled with favourable demand-supply dynamics we believe that the Company hasthe potential to deliver better.
Our teams have consistently worked beyond their comfort zone to improve our performanceand achieve the vision. We continuously strengthened our manufacturing processesoptimized costs reduced waste minimized environmental hazards and value creation to ourcustomers. At Arfin we understand the importance and criticality of the products beingsupplied to Steel Automobile and Power Sectors.
Our focus is now on our knowledge expertise and resources to ensure that we continueto meet customer needs and deliver the best possible products to them. Our customers havebeen at the heart of our initiatives and our sense of responsibility has strengthened therelationships even further to the point that they show ample trust and confidence in theCompany.
Finally we would like to extend our gratitude to all our employees and bankers who areour stakeholders too. Our growth is sustained because of the clear articulation of ourstrategy the strong support of our Board and the continual and dedicated commitment ofthe management team.
Finally I thank each and every shareholder large and small for your support andtrust.
I must end with optimism that your Company continues to do things better and doing sointends to enhance value for all its stakeholders in a sustainable way.
Mahendra R. Shah