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Pritika Auto Industries Ltd.

BSE: 539359 Sector: Auto
NSE: PRITIKAUTO ISIN Code: INE583R01029
BSE 00:00 | 24 Sep 17.20 -0.70
(-3.91%)
OPEN

17.95

HIGH

18.05

LOW

16.80

NSE 00:00 | 24 Sep 17.45 -0.35
(-1.97%)
OPEN

17.90

HIGH

18.00

LOW

16.80

OPEN 17.95
PREVIOUS CLOSE 17.90
VOLUME 96713
52-Week high 23.80
52-Week low 12.10
P/E 12.74
Mkt Cap.(Rs cr) 152
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 17.95
CLOSE 17.90
VOLUME 96713
52-Week high 23.80
52-Week low 12.10
P/E 12.74
Mkt Cap.(Rs cr) 152
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Pritika Auto Industries Ltd. (PRITIKAUTO) - Chairman Speech

Company chairman speech

Our Company has been resilient through the industry-wide slowdown during this financialyear. The headwinds in the automotive sector impacted all players in the value-chain fromOEMs to tier-2 suppliers. The situation worsened in the last quarter with the outbreak ofCOVID-19 leading to temporary suspension of operations. Our consolidated revenue for thisfinancial year stood at Rs. 167.95 crore while EBITDA and PAT were reported at Rs. 22.48crore and Rs. 5.58 crore respectively. Despite the sluggish market scenario we improvedour realizations per ton.

The outbreak of the COVID-19 pandemic brought the entire economy to a standstillimpacting all industries and lives. While our operations were temporarily suspended weretained all our workforce at full salaries. As the economy gradually opens up we expecta buoyant outlook for the tractor market backed by a good monsoon and growth inagriculture.

This financial year witnessed our foray into international markets in the form of ourfirst export order from a multi-national conglomerate in the US. Our regular participationin ‘Agritecnica' a Germany-based trade fair for agricultural equipment gave usvisibility in the foreign markets and fructified into this export order. The order was forcasted products for use in material handling applications thereby expanding our reachbeyond the tractor and commercial vehicle sectors. Client satisfaction was testified by arepeat order from the same US-based company for a much larger value. Together our exportorders were worth USD 2 million. This reflects our consistent quality and on-time deliverythat has earned us the trust of international clients. A potential growth in our exportbusiness is also likely to reduce our exposure to any volatility in the domesticautomotive sector.

We also completed orders on time from several clients this year. We expect the domesticautomotive market to start easing out in the coming financial year and consequentlydemand to recover. This coupled with our export business and continuous improvement inoperational efficiencies should help us regain momentum and improve profitability goingforward. We are poised to capture new opportunities as they arise in terms of ourproduction capacities.

I would like to thank the entire team of Pritika Auto for their untiring efforts hardwork and dedication as well as all the stakeholders for their undeterred faith in ourCompany which motivates us to set and achieve higher benchmarks.

Raminder Singh Nibber Chairman

.