It gives me great pleasure to share with you the 2nd Annual Report of Your Company andshare our journey through the last financial year.
Last Financial year was remarkable year for your company as Inflame Appliance Limitedsuccessfully commissioned production at new facility. At the outset on behalf of board ofdirectors and the team we would like to take this opportunity to thank you for yoursupport and confidence in your company during the growth phase of the company.
It is this trust that encouraged enabled and inspired us to deliver a strong financialperformance of Rs. 55.11 Crores in turnover clocking a 72% Growth and recorded the Profitafter tax (PAT) Of Rs. 2.06 Crore registered the growth of 66%.This performance has beenpossible because of the combined efforts of our people who have worked with a strong focusand driven many innovative and impactful initiatives in the year gone by.
The macroeconomic scenario of the country remains strong with stable government inplace FDI inflows remains strong asserting our attractive position in global scenarioCombined with some decisive steps for debt overhang resolution in industry this augurswell for investment climate in the country.
We are now getting ready to brace ourselves for a new tomorrow with the New Productsadded in our product basket New facility and machines.
During the recent years Company bought 12175 sq meter of land on NH73 near PanchkulaHaryana for setting up new facility where approx 4500 Sq meter of sheds/office blocks arealready Constructed. The Company shifted all its operations from Baddi Himachal Pradeshto this new facility in phased manner during this year.
Company Added 15000 numbers per month of production capacity for Electric Chimneys5000 numbers per month of production capacity for Hobs and 1000 units per month productioncapacity for cooking range. Production Capacity for existing products have also Increasedduring last year. Steel Gas Stoves production capacity has also increased from 50000 to125000 numbers per month and Glass Stoves from 5000 to 20000 pieces per month.
Within a month of completion of production capacity expansion your company is able toachieve production of 2500 Pieces per month of Electrical Chimneys and expect to achieveapprox 10000 pieces per month by second half of current financial year.
Average Current Steel Gas Stove Production is 75000 numbers Per Month and Glass StovesProduction is 4500 pieces Per Month and we expect to achieve production of 15000 piecesGlass Gas Stoves and 100000 Steel Gas Stoves numbers per month by October this year.
Your Company has Marketing agreements with Oil Marketing Companies to market selldistribute and promote LPG Stoves to domestic consumers using their Distribution channelwhich has over 16000 distributors across India. Currently Company supplies its products inthe brand name of "INFLAME" through a network of its 40+ Distributors acrossIndia.
Apart above your Company is also setting up its own distribution network for openmarkets to sell its products under the Brand Name of "INFLAME" in major statesin India. Recently Distributors Network has been set up in the States of
Maharashtra Gujarat West Bengal Uttar Pradesh Punjab Haryana Jammu & Kashmirand Himachal Pradesh. In time to come this distribution network would be spread acrosspan-India and complete product range would be offered to consumers through thisdistribution network.
Your Company is also involved in manufacturing different models of gas stoves forHindware since about 4 years and currently contribute to over 80% of their total demand.Recently this partnership is also extended to manufacture chimneys for them. Apart fromHindware your company has recently got into an agreement with AKAI INDIA for beingexclusive manufacturer of electrical chimneys Hobs and gas stoves for them under theirbrand. This partnership is expected to generate huge business opportunities for bothcompanies. Your company has also been selected by BSH Home Appliances (BOSCH SIEMENS HOMEAPPLIANCES) to be in their pool of suppliers for Chimney. Recently your company is alsoapproved by Sun flame Appliances for supply of chimney under their brand name.
Your Company has completed the process of registering with Railway Coach Factory (RCF)for supplying of various stainless steel /mild steel components which are used in railwaypassenger wagon. Companys unique facility are able to offer various components forrailway coaches and company looks forward this segment and expect 5-10% of total revenuefrom this segment.
Your company started exports of various models of chimneys and gas stoves in nearbycountries and have initiated process of exporting its products to various Africancountries. During current financial year your company expects to achieve 15-20% of totalrevenue through exports.
I would like to thank our employees for their efforts our customers for their trustour vendors for their cooperation our regulators for their oversight and our investorsfor their confidence in our abilities. These are the pillars that will drive our successas we set out to become a better bigger & stronger organisation.
Chairman & Managing Director
June 03 2019