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Pritika Auto Industries Ltd.

BSE: 539359 Sector: Auto
NSE: PRITIKAUTO ISIN Code: INE583R01029
BSE 00:00 | 02 Feb 18.40 0.30
(1.66%)
OPEN

18.40

HIGH

19.10

LOW

17.65

NSE 00:00 | 02 Feb 18.40 0.35
(1.94%)
OPEN

18.30

HIGH

19.20

LOW

17.70

OPEN 18.40
PREVIOUS CLOSE 18.10
VOLUME 106171
52-Week high 20.80
52-Week low 10.51
P/E 14.38
Mkt Cap.(Rs cr) 163
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 18.40
CLOSE 18.10
VOLUME 106171
52-Week high 20.80
52-Week low 10.51
P/E 14.38
Mkt Cap.(Rs cr) 163
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

To Shareholders

The past financial year has been a challenging one with the COVID-19 pandemicworsening an already-sluggish automotive market. The pandemic hampered business operationsduring the initial months of the year and recovery has been gradual since then. Infactwith the second wave of the pandemic going on scenario in various regions remainsuncertain.

However our Company has proven to be resilient in the face of such headwinds andsustained through this phase which impacted all players in the value-chain from OEMs totier-2 suppliers. Our revenue for this financial year grew 34.4% year-on-year to Rs.225.7cr while EBITDA and PAT grew 13.3% and 5.2% to Rs.23.8 cr and Rs. 5.9 cr respectively.Despite the market upheavals we improved our realizations per ton.

In the post-COVID scenario a boost in the agriculture sector based on healthy monsoonhas given a reviving trigger for the tractor market. Infact in January 2021 we registeredour highest ever monthly sales volume at 3177 tons and the last quarter saw our highestquarterly volumes at 10123 tons. This reflects a strong order book as various leadingOEMs continue to rely on us for quick on-time delivery of products.

The previous year witnessed our foray into international markets in the form of ourfirst export order from a multinational 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 for casted products for use in material handling applications therebyexpanding our catering beyond the tractor and commercial vehicle sectors. Clientsatisfaction was testified by a repeat order from the same US-based company for a muchlarger value. Together our export orders are now worth USD 2 million. This reflects ourconsistent quality and on-time delivery that has earned us the trust of internationalclients. A potential growth in our export business is also likely to reduce our exposureto any volatility in the domestic automotive sector.

We also won several additional orders for components such as axle housings etc. fromexisting clients this year while adding a new prestigious client to our customer-base.This makes us one of the top go-to component manufacturers for all leading tractor OEMs inIndia. Recovery in demand 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 during these turbulent times as well as all the stakeholders fortheir undeterred faith in our Company which motivates us to set and achieve higherbenchmarks.

Raminder Singh Nibber

Chairman

.