Atul is on an accelerated growth path. Your company crossed new milestones acceleratedacross international shores marched towards a greener future and built the base toleapfrog into a new future of growth.
I am glad to report that 2019 has been a breakthrough year for Atul. We remainedsteadfast in our commitment to create value for customers and investors through innovativethinking long-term strategies and planned tactical moves.
For the very first time the Company crossed the sales gure of 50000 units by selling50049 vehicles in FY 2018-19. On the financial metrics we achieved our highest everturnover of Rs.661.35 Cr while Net Profit increased by 15% to Rs.53.12 cr (Previous YearRs.46.19 Cr).
New Milestones across Shores
For the past several years we have been working hard to create a strong competitivebusiness edge around the world. Penetrating further with planned strategies we have nowexpanded our market reach across 20+ Countries and are expanding our reach even further.
Our export sales received a boost from 3411 Units last year to 5536 Units in FY2018-19. During the year 9.68% of our revenues were derived from our exports. Furtherstrengthening and accelerating this strong growth across international markets will remaina strong focus at Atul in the coming years.
Ready For the Future
Even as it is challenging for the whole automobile industry we look at compliance toBS VI emission norms as an immense opportunity to innovate. We are in the process of beingprepared for these challenges that will enable us to move up in the 3-wheeler technologyworld.
That is why we look at our strategic and continued investment in innovative technologyas a key driver for our improved competitive position. Our technical team is adequatelyequipped and has set out a clear roadmap to meet the BS VI emission standards which go into effect from April 01 2020.
An Electrifying Journey
The future belongs to the Electric Vehicle. Even as the Government is taking rm stepstowards transition from conventional to electric vehicle we are already ahead of thecurve through our 'E-vehicle' platform. Towards this we have already designed the"Elite" range of electric vehicles to meet the needs of the passenger as well ascargo segments.
This is the result of our strong and ever expanding investment in Research &Development that is aimed at creating breakthroughs.
Besides being well positioned in the race for this future of mobility we are alsoaugmenting technology to ensure there would be no compromise on performance ordrivability. Besides having a low operating cost and being pollution free our new modelswill have further upgraded features and will be powered with Lithium-ion Battery.
Green Field Project Expansion
As the future approaches we are scaling up our capacity and optimizing production tobe ready for any new challenges. Our new chapter in growth is taking shape in the form ofour green eld plant which is under construction at Bhayla Ahmedabad.
To be ready by the beginning of FY 2020-21 this plant will expand our Capacity to120000 Units. This plant will add a big boost to our capabilities and empower us to takebolder leaps into the future.
Vote of thanks
The Atul Family is a proud group of people who work tirelessly day in day out to ensurethat we all win together. Each one of us has played a pivotal role in making every successpossible. The contribution of every team member is highly valued and commendable.
On behalf of my colleagues and every one at Atul I would like to express my specialthanks to my Retiring Directors Mr. Hakubhai Lalakiya Mr. Hasmukhbhai Adhvaryoo Mr.Hemantkumar Bhatt for their valuable contribution as Independent Directors. I also takethis opportunity to welcome Ms. Aarti Juneja Mr. Mohanjit Singh Walia and Mr. JaichanderSwaminathan as the new Independent Directors of the Atul team.
We have set our sights high and aim to lead with greater innovation and strongerfinancial performance. Fully committed and brimming with con dence I am sure thattogether we will accelerate into the future together as a team and conquer any terrain inany market.
J J Chandra
Chairman and Managing Director