It is my pleasure once again to be in your midst and I hope all ofyou are in good health and spirits.
Let me begin by sharing with you my perspective of the currentsituation around us.
The second wave of the Covid-19 pandemic has ebbed leaving behind atrail of pain and suffering. Safety of our employees and their families was our mainconcern. Your company took all steps to provide a safe working environment and fullsupport to all our employees during this turbulent period. My heart goes out to all thefamilies who have been impacted by this health crisis.
Our second priority was to ensure that our customers lines run smoothlyand there is no default from our side.
I am thankful to all our employees for their unrelenting support forkeeping the company operations smooth and for meeting all the demands of our customersdespite the odds.
Due to various disruptions the automotive industry has been facinghigh raw material prices logistic issues and semiconductor shortage as the demand forsemiconductors shot up due to Covid.
Our world is currently plagued with multiple challenges.
Global economy is facing risk of widespread stagflation and isexpecting a slowdown.
A huge challenge today is the Russia Ukraine conflict. It has resultedin high prices of petroleum products edible oils food energy shortages high energyprices supply chain disruptions etc.
India too may have to face the short-term challenge of slowing growthand higher inflation.
On the positive side India's manufacturing is set for long-term growthand gain a major share of global manufacturing output aided by:
Infrastructure improvements which are helping drive down macrocosts and improve reliability of supplies and
A supportive global environment - as various countries arelooking to broad base supply sources away from China and
India's increasing focus on import substitution.
According to the changing times your company is being restructured forboth organic and inorganic growth.
In the automotive space your company has been continuously adding newcustomers more value-added products and expanding our operations near to the customersto meet their current & future needs.
We have increased our market share with our existing customers andstarted supplies to new customers. Your company has been regularly appreciated by ourcustomers for our customer centric approach.
In the EV vertical we have setup lithium-ion battery lines for 2/3Wheelers. This vertical is helping us in increasing the EV customers interest fordevelopment of plastic injection moulding tools as well as plastic and rubber parts fortheir vehicles. It has facilitated in making your company a big solution provider.
Leveraging our tooling facilities your company has added new customersin automotive segment white goods and medical segment. We have established ourselves asone of the leading manufacturers of plastic injection mould and tooling in the country.
New ventures in aftermarket business have been getting good traction.We have been expanding our footprint across India to capitalise on the aftermarket demand.
Your company's sustainability performance is closely monitored.
At PPAP we do more than comply with all statutory requirements set bythe regulatory authorities in the true letter and spirit. We have set our foot on our ESGjourney with the objective of running our operations sustainably and responsibly.
Your company's first Sustainability report for FY20 ranked seventhamong Asian Sustainability Reports in the category of first-time reporting. The reportdefines the initiatives which your company has taken in environment social and governance
Through our CSR activities we are consistently focusing onEnvironment Education and Health. We are supporting various biodiversity parks in NewDelhi to plant and sustain native trees to improve the environmental conditions.
We are completely poised with dynamism and resilience to navigatethrough the volatile environment due to our relentless focus on global level excellencein each area of our operations.
Going forward the demand for our products is improving owing topreference for personal mobility.
Our customers are launching new models and are making efforts toachieve record production.
It is expected that the semiconductor shortage supply chain issuesalong with high raw material prices would ease out soon leading to our improvedfinancials.
During FY22 revenue of your Company has grown by 27.4% on standalonebasis and 30.9% on a consolidated basis. The consolidated EBITDA witnessed an increase of17% during FY22 and stood at l 38.6 Crores.
Your Board has recommended a final dividend of 15% which is 11.5 perequity share.
Before I conclude I would like to thank all our stakeholders for theircooperation and support.
I would like to start by thanking you my dear shareholders for yourtrust and confidence to my colleagues in the Board for their relentless support and foralways sharing their wisdom with us to my customers due to whom we exist; to myemployees who never leave any stone unturned and to my suppliers for their uninterruptedsupplies.
Once again a big thank you to everyone.