FY2020-21 (FY21) was a mixed bag for our country as well as our company. FY21 begunamid the first wave and closed in the first quartile of the second wave of the pandemicstriking the country. Besides the severe health challenges it disrupted our economicmomentum and recovery throughout the year though at a varying extent. At the same timethe Country demonstrated heightened resiliency to bounce back to a positive GDp growth bythe third quarter of the year.
For our Company and our business we effectively got two months lesser in this year -to manufacture supply and serve our customers. Inspite of the challenges we crossed thebenchmark of Rs 200 crore annual revenue in FY21. We also rose to the clarion call of ourfrontline workers to manufacture and supply high quality protective face masks and of ourgovernment to make India Atmanirbhar Bharat.. Yes we forayed in the face maskmanufacturing domain to secure our fellow citizens and support our country's fight with aninvisible enemy.
Ushering in FY21 under the shadow of a complete lockdown we ensured adequateprotection of all our assets - people goodwill manufacturing inventory installedequipment base cash - as our first priority. Subsequently the focus shifted to rebootourselves in work mode as the restrictions started being lifted by the mid of May 2020.The recovery started thereafter with sequential increase in demand.
We helped our customers in a smooth unlock servicing the installed base withconsumables and maintainance. We intensified our focus on foraying into few newer segmentssuch as dairy FMCG and building materials. Our strategic shift in sales from thetraditional regional/ zonal orientation to the new sector/ product category wise targetingyielded good results. Our equipment sales witnessed good traction across industries and weended FY21 with an impressive installed base of 13500+ printers.
Our new venture - The Mask Lab - commenced commercial production in July 2020overcoming many a lockdown induced challenges on its way. With this we added a newcapability of manufacturing surgical face masks and N95* / FFP2 / IS 9473 quality masksand thereby a new revenue segment. You would be happy to note that we distributed our facemasks free of cost among frontline warriors and needy sections of the society. The actbesides supporting the country's fight against novel coronavirus was widely appreciatedand recognised by the concerned authorities and national/ regional media. We also won'Best CsR Award' for the year conferred by World CSR Congress.
Looking at the financial performance of the Company we closed FY 21 with our best everrevenue of Rs 203.69 crore representing a 4.15% growth over FY20. Our Operating profit forthe year was Rs 35.30 Crore with a margin improvement of 6.78%. Our net profit grew by10.33% to reach Rs 29.39 crore for the year. Even in the pandemic year we continued toreward our shareholders with 9th consecutive year of dividend. Postshareholders' approval in the ensuing AGM total dividend payout for the year would be85%.
Looking ahead into the future we are confident that our expanded installed base newlyadded user segments new sales approach of industry and product segment wise go to marketstrategy and the mask segment will drive our march forward. With the share of consumablesrevenue poised to grow steadily we shall see a sequential improvement in our profitmargin. We are sure of our newly introduced products adding to our momentum whileexpecting replacement market OEM and Key Accounts to be the leading drivers of growth inFY22. We are moving ahead with certain focused marketing plans to capture the last mileusers and are confident of further strengthening our market share with increasinginstalled base of printers.
We take immense pride in our people who have demonstrated extreme agility resilienceand commitment towards serving the customers amid these testing times while also ensuringsafety and well-being of themselves and their families. On behalf of all shareholders iplace on record our sincere appreciation of their superb contributions. On behalf of ourBoard i thank each one of you our dear shareholders for your continued trust andguidance in taking Control print to greater heights.
Please join me in acknowledging the invaluable role of all our frontline warriors andpraying for a speedy return to normalcy for our 1.35+ billion fellow indians and everyoneacross the globe!
Chairman & Managing Director