Being sustainable is a stepping stone towards the organisation success. Our gut anddetermination has helped us to gear up more rapidly in the recent tomes and ensured thatthe business stays true to its promise of excellence and integrity.
Firstly I'd like to wish success and health to all of you and your loved ones. Sincethe onset of the pandemic we have been living in extraordinary situations. I urge you tostay safe follow Covid-19 discipline get vaccinated and keep your spirits up.
As I pen down this letter I am filled with immense pride as we concluded another yearof opportunities and achievements. Mitsu Chem Plast Limited is a shining example of hardwork and determination which has brought us to a pedestal of great significance.
The Company migrated to the main board of BSE platform w.e.f. May 27 2020. With thisyour Company's shares being available for trading on the main platform of BSE hasimproved liquidity and has brought in a new set of investors.
On the business front your Company weathered the pandemic very well. It adaptedquickly and embraced a new operating model that prioritized the health and wellbeing ofits employees.
After the initial impact from lockdown-related disruptions it swiftly returned to asharp growth trajectory over the next nine months and exited the year on a very strongnote with an expanded market share profitability and an all-time high order book.
Mitsu continued to deliver amazing results upturning the challenging year into one ofthe best in its history. Since our products fall into the essential category the demandis inelastic.
By emphasizing plant and process optimization we met the demands and ensured businessstability. We will keep on banking on innovation to provide the best customer satisfactionand maintain high revenue potential.
Our success in FY 2020-21 is translated perfectly by the numbers we achievedfinancially. The Company's Net Revenue has increased by 29.2% from Rs. 13886.72 Lakhs toRs. 17944.69 Lakhs. The EBITDA stands at Rs. 2374.53 Lakhs a climb of 51.2% from Rs.1570.90 Lakhs and the PAT rose by 143.7% to Rs. 968.80 Lakhs from Rs. 397.51 Lakhs.
The Company will continue to develop a growth-based outlook with more stress onoptimizing and automating processes expanding plant capacities and cultivating moreinorganic growth opportunities. We look forward to leveraging our advantages and earninglaurels for our products.
We strengthened our Board representation by inducting Mr. Hasmukh Dedhia a qualifiedChartered Accountant having an expertise of around 40 years in Audits Financial DueDiligence Consultancy and Business Restructuring assignments and possess rich experiencein the fields of Internal Auditing and control enhancement aspects.
As always the growth of the Company will be dictated by the pool of talented employeesand I am thankful to them for investing their faith in us and becoming an important partof our success story. The commitment and skill of our workforce will remain centraltowards realizing our Company's vision.
To conclude I would like to thank the entire family of Mitsu which includes theesteemed Board members valued customers business associates suppliers and shareholdersfor the consistent support and motivation.
(Chairman & Whole-time Director).