On behalf of the Meera Board of Directors it's my privilege to welcome you to the 12THAGM of your Company. Meera was founded in the year 2006 with minimal capital but a lot ofambition. Over the past 12 years our hard work innovation in technology aided by thetremendous support of our stakeholders has taken us to where we are today.
I am happy to announce that we had an outstanding performance on nancial parameters forthe FY 2017-18. The Standalone revenue of the company increased to Rs. 21.57 Crores ascompared to Rs. 13.49 Crores in the previous year. The net profit after Tax also increasedexponentially from Rs 1.06 Crores to Rs. 2.61 Crores. We have declared dividend of Rs. 2.2on an EPS of Rs. 6.85.
Shareholders will also be aware that our 1st overseas of ce started in RD USA on 23May 2018 has already started contributing positively from the second half of F.Y.2017-18. This initiative was critical as it enables us to showcase our capabilities in thelargest market of the world. The initial performance has exceeded our expectations and welook forward to many more order wins in F.Y. 2018-19.
We have always believed in striving to be a leading World Class Manufacturer oftwisting machines. Innovation exhilarates us and we keep experimenting with newermanufacturing processes emerging technologies and newer business models. For instance weexpanded our manufacturing facilities and integrated them with the global
supply-chains of our customers all with minimal capex.
During the year we have launched a machine named TPRS-50 - a Twisting Machine whichis one of its kind a single step S/Z Twister. It combines both the first and second twistin a single step offering several quality and cost advantages. Apart from savings onseveral operational inputs like space labour power the most remarkable benefit of TPRS50 is nearly Zero wastage and a perfectly wound knotless package up to 12 KG.On the other hand we continue to invest in technology and innovation and broke newgrounds in diverse elds including Arti cial Intelligence Additive Manufacturing etc.
This year ef ciency improvement was our main focus area for improving the productionquality. The fact is that production is the result of cooperation of all the factors ofproduction as the ef ciency of labour does not just depend on the personal qualities ofthe workers it includes continuous training too. Thus we have initiated activities suchas KAIZEN - Key to Competitive Success which means change for goodfor the World Class Manufacturing which is complement to Vision of the company. UnderKAIZEN we have encompass many activities such as Technical training to the employeesWelfare Activities includes distributions of books to all employees sickness benefits andvarious other supplementary facilities so as to ensure that even in case of eventualitiespeople get some minimum level of income. These benefits are provided to ensure economicand social justice; but while helping to maintain the health and moral of the peoplethey do make a positive contribution to the ef ciency of the labour force.
To further strengthen our market position we are further strengthening ourcapabilities with addition of some machinery such as Rope Twisting Machine. This high-endmachine will help to cover whole range of yarn twisting technology.
Change and adaptability are the key to become a meaningful player in the global textilemachinery industry. We remain committed to stay on our chosen path of operationalexcellence in the coming nancial year.
On behalf of the Board of Directors of Meera Industries I take this opportunity tothank all our stakeholders for their continued support con dence and faith reposed inMeera and I look forward to an exciting journey ahead together.
With Best Wishes
Dharmesh V. Desai
Chairman and Managing Director