It is ray pleasure to communicate once again with you it is sense of pride about howwell your company performed this year not just in financial terms but also in terms ofwhat we accomplished for customers employees and all comer people associate with companyby any mean.
India has emerged as the fastest growing major economy in the world and is expected tobe one of the top three economic powers of the world over the next 10-15 years backed byits strong democracy and partnerships. India's GDP is has increased 7.2 per cent in2017-18 and 7 per cent in 2018-19. India has retained its position as the third largeststartup base in the world with over 4750 technology start-ups. India's Index ofIndustrial Production (HP) rose 4.4 per cent year-on-year in 2018-19 (up to January 2019)and Net direct tax collection for FY19 has crossed INR 10 trillion.
With the improvement in economy and government policies Indian Machine Tool industrygrows by 25% or for more two years constantly. As per the latest World Machine ToolProduction and Consumption Survey conducted by Gardner India's Global rank during 2018was 9th in Production and 7th in Consumption. It is estimated thatthe industry may grow around 20 - 25 per cent in 2019-2020. With <Make inIndia' moment the consumption increased in existing sectors and re-export market pick-upcontributes in market growth.
This is the second year in which your company grows by more than 30%. Your company'stotal revenue stood at INR 143.16 Cr against INR 107.47 Cr compared to previous financialyear representing Y-o-Y growth of 33%. The EBITDA of the Company rose by 62% from thelast year and reached to INR 19.50 Cr from INR 11.98 Cr. This year your company's PATcomes to INR 12.64 Cr as last year it was INR 7.04 Cr representing Y-o-Y growth of 79%.Your company catered 14 machines to the Department of Training and Employment - Karnataka[in single order] 6 machines to Defence sector 2 machines into aerospace and ineducation sector supplied machine to IIT - Kharagpur. In total your company's total salesof the machines for this year is 797 machines [last year 572 machines sold] .This yearyour company gets MSE - 1 rating for Highest Financial Strength in SME segment by CRISIL.
You might be aware of present economic conditions of the country and world. NBFCs arefacing a liquidity issue which affects automobiles and industry in general. Yourmanagement has planned out for out coming from the situation by adding higher valuedproducts like Double Column Machining Centre [DCM] Axel Machining and Wheel Machiningmachines and focusing on tender business in new segment like Indian Railway. I would liketo point out that this year up today your company has get LI position in tenders whichvalued INR 22 Cr and dispatch of tender's order has crossed INR 8 Cr and this will beresulted to 250% growth in tender business in compared to last year. The pending openingof the tender bided value is INR 180 Cr.
Import substitute is general term used by machine manufacturers and related peoples forthose products which were earlier being imported by the customers now manufactured inIndia. This year your company indigenously designed manufactured and delivered 3 bigmachines to its customers. During the year your company open techs centers at AhmedabadJaipur and Delhi - NCR and also arrange open house there to give live demonstration ofMacpower's machine and training of tools and fixtures to its customers.
Your company came into Capital Market for expansion plan in March 2018. At the end ofthe year double column machine from Taiwan and some testing equipment Sum Europe aredelivered at company's premise. And after that upto July 2019 some more machines hasbeen arrived and remaining 70% of machines are in transit and same will be received atcompany's premise in September-October this year. Expansion plan of the company will becompleted and your company will get the benefits of this expansion from quarter 3 or 4.Last year as first year of listing Board of Directors recommend to declared dividend anPromoters & members of promoter group was express their wish to waive the same. Wellthis year also dividend is recommended by Board of Directors and Promoters 8s Promotergroup members show their intention to waive their right of dividend.
On overviewing the global and Indian economy moments and the inputs from Union budgetof 2019-20 by Union Government I believe that the coming phase will be more positive forgovernment business because the allocation of big amount to Defence and Infrastructuresectors. Indian Railways is also new path for company to cater this year. Our focus willbe on growing each vertical in business. We will work toward enhancing our presence inmore regions and increase our market share. But the prime attention will be on the better85 better quality and upturn number of satisfied customers. As India prepare to move afast foot forward to higher efficiency. We continue to be positive.
Every member has committed to creating a compelling scorecard for himself that impulsesforward to develop professionally and individually. We are engaging closely with ourvendors on improving their business process and system.
On behalf of the Board of Directors of Macpower I want to thank you for your continuedtrust confidence and support.
Chairman & Managing Director