FROM THE DESK OF MANAGING DIRECTOR
Greetings from Cerebra. It is really my good fortune to meet all of you year after yearand this year it gives me additional pleasure in writing this to you all. We are allproud to announce that your Company has achieved a top line of Rs 39105.62 Lakhs and anEBITDA of Rs 4 778.45 Lakhs the highest in its history so far.
The E waste division continues to perform and is now exceeding our expectations. Wehave a country wide network to collect E waste. We were successful in bagging our first EPR client Samsung for 1500 tons during the end of the year and at the time of writingthis we successfully got an enhancement of our license capacity to 20k tons from theKSPCB and also bagged an order for 15k tons from Samsungfortheyear2019-20.
We have opened around 20 stores which we call as Cerebra Experience centers across thecountry to sell our refurbished products and very soon will be adding more and moreproducts to sell here. Our aim is to reach around 150 stores refurbished by the year end.The stores also provide services and are capable of handling onsite support for hardwareproducts. Very soon we will start selling mobile phones also from these stores.
Our factory has trebled its strength and very soon we will be operating on 3 shifts. Wewill be adding new machines to handle white goods and also the space has been expanded andyour Company will soon have a factory area of 2.5 lakhs sqft.
Our plans to handle tublelights automobile recycling is progressing well. We have nowsigned a JV MOU with a Gold refining company and by the end of this year our preciousmetal plant will be up and running. This plant has a got capacity of recovering andrefining gold silver platinum palladium and copper.
Our focus on manufacturing continues though with a clear eye on the bottom line.Similarly our ESD division is also focused only on the bottom line.
Middle East is going through an economic downturn and we as all other companies areaffected by the slowdown . We hope it will recover soon. Our plans are to go slow and takeorders which are safe and secure.
Your Company is looking at debt to handle its working capital requirements and isworking closely with a few banks and will finalise with one or two banks a credit linewhich will take care of our expansion plans.
The matter relating to Cimelia Singapore matter is being settled. We have receivedtheAward from Arbitral Tribunal in the matters of Arbitration Disputes to cancel the 92lakhs shares issued to the Singapore companies. The amount corresponding to this iswritten off during the last quarter of the year and we are seeking your approval toproceed with the Reduction of Share Capital in this Annual General Meeting. The Companywill be approaching NCLT and seek its approval.
We wish to thank the Government of India and Karnataka for their support and also thebankers shareholders and all the employess for their unstinted support without which wecan never reach where we are today. Looking forward to a good growth this year.
With warm regards