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Morganite Crucible (India) Ltd.

BSE: 523160 Sector: Engineering
NSE: N.A. ISIN Code: INE599F01012
BSE 00:00 | 17 Aug 1698.50 -0.30
(-0.02%)
OPEN

1690.00

HIGH

1724.40

LOW

1689.85

NSE 05:30 | 01 Jan Morganite Crucible (India) Ltd
OPEN 1690.00
PREVIOUS CLOSE 1698.80
VOLUME 604
52-Week high 1725.00
52-Week low 860.05
P/E 29.20
Mkt Cap.(Rs cr) 476
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1690.00
CLOSE 1698.80
VOLUME 604
52-Week high 1725.00
52-Week low 860.05
P/E 29.20
Mkt Cap.(Rs cr) 476
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Morganite Crucible (India) Ltd. (MORGANITECRUCIB) - Chairman Speech

Company chairman speech

Message to the Shareholders…

DEAR SHAREHOLDERS

It gives me immense satisfaction to review the annual report for MCIL. There have beensignificant positive changes in the Company in the year 2017-18. MCIL has undergonestructure simplification to set it up for growth and efficiency improvements for thefuture. The fundamental change has been the merger between MCIL and DCCL to a single legalentity. The merger between MCIL and DCCL will result in less duplication of effort and amore focussed view of the MMS business in India.

My position in the Morgan Advanced Materials organisation has also changed as of 1March 2018 and I have left the management of the global MMS organisation to take on a rolein the Thermal Ceramics Division leading the Asia region. As a result Mr Aniruddha Karvehas been appointed Managing Director of the MMS global business. You have seen theprogress that has been achieved while he has led MCIL and I am confident that MCIL willcontinue to benefit from his leadership. Both Mr Karve and I will remain on the board ofMCIL to ensure that the Company continues to receive the guidance and leadership requiredfor sustainable profitable growth in the coming years.

I look forward to the continued success of MCIL and thank you for your continuedconfidence in the Company.

Thank you

Mr Ian Arber

Managing Director Thermal Ceramics Asia

From the Managing Director's desk

DEAR SHAREHOLDERS

It is indeed my pleasure to present the annual report for Morganite Crucible (India)Limited after another successful year for the Company in 2017-18. Although our Companyfaced multiple trading headwinds in 2017-18 in the key Indian market (which now accountsfor nearly half our revenue) due to disruptions caused by the GST reform we were able tomaintain our revenues for the full year with the fourth quarter coming in with goodresults. Rising raw materials prices driven by upward trending commodity markets putpressure on margins but the Company was able to maintain strong profit margins byemphasizing value propositions with our customers. The coming year should bring strongerrevenues and profit margins as we continue to leverage the refreshing of our productportfolio and our entry into market segments other than the non-ferrous crucibles.

We also took major strides in 2017-18 to strengthen our Company's underlying businessand governance structure. The acquisition of the full stake in Diamond Crucible CompanyLimited (DCCL) and the subsequent merger of DCCL into MCIL greatly simplified theholding structure of the Company as well as reduced redundant administrative processes.The formalization of a dividend policy and the dematerialization of the entirestockholding by all Morgan entities allow increased transparency for our shareholders whendeciding their investment strategy. I am also very pleased that our Company's operationsin 2017-18 were carried out with increasing efficiency with the Company makingsignificant strides in reducing energy consumption and completing the entire year withoutregistering a single lost time accident in its factories.

Looking forward to 2018-19 I am confident that the increased focus on revenue growthwill yield excellent results as our Company rises to even greater heights. Our productportfolio and market access strategy will continue to improve our competitive position inkey existing and new markets. I look forward to bringing you even better results nextyear. Thank you for your continued confidence in MCIL.

At the close we thank stakeholders customers and distributors in reposing theirconfidence and faith in the Company and to our dedicated employees for their hard work andsupport in the growth of the business.

Sincerely

Dr. Aniruddha Karve

Managing Director

Molten Metal Systems (MMS)