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Maithan Alloys Ltd.

BSE: 590078 Sector: Metals & Mining
NSE: MAITHANALL ISIN Code: INE683C01011
BSE 00:00 | 30 Jun 795.55 -51.15
(-6.04%)
OPEN

815.60

HIGH

824.20

LOW

792.05

NSE 00:00 | 30 Jun 795.80 -49.60
(-5.87%)
OPEN

815.00

HIGH

821.90

LOW

793.00

OPEN 815.60
PREVIOUS CLOSE 846.70
VOLUME 24011
52-Week high 1594.40
52-Week low 777.65
P/E 2.87
Mkt Cap.(Rs cr) 2,316
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 815.60
CLOSE 846.70
VOLUME 24011
52-Week high 1594.40
52-Week low 777.65
P/E 2.87
Mkt Cap.(Rs cr) 2,316
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Maithan Alloys Ltd. (MAITHANALL) - Chairman Speech

Company chairman speech

THROUGH LIGHT AND SHADE

The first quarter of Financial Year 2020 - 2021 was severely impacted on account ofCOVID-19 pandemic and sporadic lockdowns across the domestic and international markets. Wewitnessed disruption in logistics and supply chain which have affected our revenues.However despite the challenging market environment we were able to maintain our marginsand record a strong performance.

GOING STEADY

After a nationwide lockdown our Company resumed operations at its various facilitiesin April and early May 2020 and thereafter all plants were operating at near optimumcapacity. We continuously worked towards cost and efficiency improvement measures whiletaking all necessary precautionary measures as advised by the government. The currentsituation continues to be challenging due to the intermittent lockdown and restrictions invarious regions. However in the nearterm we believe there will be a gradual recovery. Weare hopeful that things will stabilise soon and Maithan being one of the largestmanufacturers of Ferro Alloys will be able to continue its onward journey withoutlong-term adverse effects.

INDUSTRIAL REVIVAL

Looking ahead we are seeing certain green shoots in the Indian steel market with signsof recovery. Domestic steel demand is reviving with rural economy taking the lead. Afaster pick up in construction and infrastructure projects will further speed up theeconomic growth and steel consumption. Demand for steel has recovered during the secondhalf of the financial year driven by increase in Government spending on rural housing androads and recovery in automobile sales. We expect further recovery in the steel marketwhich will influence the demand for Ferro Alloys.

With a complete basket of Ferro Alloys product strong relationship with the customersand financial flexibility we believe Maithan continues to be at a sweet spot and will bein a position to grow faster than the Industry.

STRONG PERFORMANCE

Our focus on operational efficiencies and tight cost control led to manufacturingEBITDA margin of 19.2%. We have managed to maintain the margins even in this challengingenvironment.

POSITIVE OUTLOOK

We expect the Government's strong focus on reviving the economy through execution ofprojects and infrastructure spending will drive demand for steel. Work on projects whichwere stuck due to the pandemic has resumed which augurs well for rise in steel demand. TheGovernment's continued thrust on affordable housing railway and metro projects wouldensure growth in steel consumption. Increase in steel consumption would propel demand forFerro Alloys.

To conclude we have delivered a healthy performance and expect this momentum tosustain going ahead on the back of increased steel production.

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