It gives me immense pleasure to welcome you all and presenting the 46Annual Report with Financial Statements of your Company for the FY 2018-19.
The key financials of MMPIL :
Revenue from Operations (Gross) grew by 4.58% over FY 2017-18 at Rs.26064.92 Lakh EBIDTA margins grew by 9.55% over FY 2017-18 at Rs. 3312.83 Lakh PBT(excluding exceptional item) grew by 16.14% over FY 2017-18 at Rs. 2830.74 Lakh PAT(standalone) grew by 32.52% over FY 2017-18 at Rs. 2037.11 Lakh PAT (consolidated) grew by18.76% over FY 2017-18 at Rs. 2260.64 Lakh
Subsequent to the listing of Equity Shares on NSE Emerge on 12=>April 2018 implementation of our new project at MIDC Umred is at a very advanced stage.This also means that our financials for FY 2018-19 do not factor any revenue from the newproject which is likely to start trial operations in July 2019.
The 32.52% increase in standalone PAT on a 4.58% increase in GrossRevenue is a reflection of operational efficiencies and strong efforts by our dedicatedteam members to improve yields and optimize sales in higher margin sectors.
Our JV partner company Toyal MMP India Pvt. Ltd. is in the process oframping up various grades and production levels while our Associate company Star Circlips& Engineering Ltd. continued to perform satisfactorily with a revenue growth at Rs.12000.55 lakh; up 11.89% over FY 2017-18.
The current economic scenario of lower GDP growth and overallconstraints on liquidity are not expected to hinder your company's growth plans in view ofall user segments continuing to show good market potential.
Since the existing operations are at peak capacity utilization yourCompany is constrained temporarily with capacity issues. It is your Company's hope thatthe new capacity at Umred MIDC will see very high utilization percentage in Q3 and Q4 ofFY 2019-20.
I would sincerely like to acknowledge and thank all members of theBoard for their valued support and guidance to the management in all its endeavours. Iextend my grateful acknowledgement to our employees for their hard work commitment anddedication. Their contribution for taking MMP forward is second to none.
|Thank you |
|Arun Bhandari |
|Chairman & Managing Director |