On behalf of the Board of Directors of Dynamatic Technologies Limited and itssubsidiaries I take pleasure in presenting before you Audited Financial Statements forthe year 2016-17.
During the year under review your Company recorded Consolidated Net Revenue of Rs.15078 million with Consolidated EBIDTA of Rs. 1654 million & Net Profit Before Taxof Rs. 327 million.
The graph on the right shows your Company's growth over the past 25 years reflectingthe expansion and evolution of its design and precision engineering capabilities intodistinct business segments of Hydraulics Automotive & Metallurgy and Aerospace &Defence.
Dynamatic Technologies has grown from its roots in India and now has a global salesand technology footprint with manufacturing plants in UK Germany and India servicefacilities in USA and networked collaborative design and engineering capabilities spreadout across the Organisation.
"The success of the young entrepreneur will be the key to India's transformationin the new millennium."
Your Company has continually focussed on building high quality global delivery systemsfor world-class customers including Airbus Boeing Bell Helicopter Daimler BMW AudiVW Hyundai John-Deere CNH JCB Cummins BorgWarner and Honeywell.
During the past year the Company has built state-of-the-art facilities at its existingsites in order to execute new orders from its customers.
The new Machine Shop (above) at Eisenwerk Erla GmbH Germany will machine 1.1 millioncastings delivered to BMW as a sole supplier from the Foundry. It is fully robotised(below) and increases the value added within the Company thereby improving margins.
In order to ramp-up your Company's programs for Airbus and Boeing we have successfullyextended our Aerospace activities from Bristol to Swindon. This has included expansion ofthe existing facility to house the first high precision Giga-Milling Centre (below)installed at a manufacturing facility in the United Kingdom.
Keeping in mind the large opportunities your Company has in the Aerospace sector wehad acquired 27 acres adjacent to the Bangalore International Airport to buildDynamatic Aerotropolis'. On 15th February 2017 we inaugurated the first Hangar atthis site (above) to produce fuselage aerostructures for Bell Helicopter.
On 4th May 2017 the New Airbus A330 Flap-Track-Beam facility was inaugurated by SirTom Williams (COO Airbus Group) Dr. Klaus Richter (CPO Airbus Group) Mr. Franck Martin(Head Airbus Aerostructures) Mr. Pierre de Bausset (Chairman Airbus Group India) andDr. Srinivasan Dwarakanath (President Airbus India). The manufacturing process at thisplant was successfully developed collaboratively by your Company in India and the UnitedKingdom.
"Collective wisdom is better than individual wisdom and diverse collective wisdomis best of all"
Stage 1 Assembly line for Airbus A330 Flap-Track-Beams (above)
"The achievements of an organization are the results of the combined effort ofeach individual"
- Vince Lombardi
Your Company's facilities in India UK & Germany have the potential to be expandedand modified at a much lower cost than it would normally entail on greenfield sites which in itself is a big advantage going forward. More importantly each Dynamaticfacility is already home to a significant talent pool that can be utilised for growth.Imparting and nurturing talent expanding employment opportunities creating the skillsvalued by our customers growing our business for shareholders and expanding economicactivity wherever we are present; this is a long and difficult process but one that leadsto creation of stakeholder wealth on a sustainable basis.
Throughout the history of Dynamatic
Technologies Limited it has faced challenging times head on seeking to benefit fromthe opportunities that accompany environmental risk. It has done so by being open tochange evolving into something bigger and better each time. The leadership team atDynamatic is committed to securing the Company's market leadership technologicalcompetence and brand equity. On behalf of our Board of Directors and Senior Management Ithank you for your continued support.
Chief Executive Officer & Managing Director