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PTC Industries Ltd.

BSE: 539006 Sector: Engineering
NSE: N.A. ISIN Code: INE596F01018
BSE 00:00 | 20 Mar 364.00 10.00
(2.82%)
OPEN

355.00

HIGH

366.00

LOW

355.00

NSE 05:30 | 01 Jan PTC Industries Ltd
OPEN 355.00
PREVIOUS CLOSE 354.00
VOLUME 150
52-Week high 620.00
52-Week low 341.20
P/E 17.30
Mkt Cap.(Rs cr) 191
Buy Price 340.05
Buy Qty 20.00
Sell Price 365.95
Sell Qty 1.00
OPEN 355.00
CLOSE 354.00
VOLUME 150
52-Week high 620.00
52-Week low 341.20
P/E 17.30
Mkt Cap.(Rs cr) 191
Buy Price 340.05
Buy Qty 20.00
Sell Price 365.95
Sell Qty 1.00

PTC Industries Ltd. (PTCINDS) - Chairman Speech

Company chairman speech

Let's start with a summary of our performance: A marginal decline in revenue fromoperations by 1% to Rs. 101.1crores from Rs. 102.3crores in the year 2016-17.

Percentage of Earnings before interest taxes depreciation and amortization (EBITDA)excluding Other Incomemoved to 15.2 percent from 14.9 percent in the previous year.

The percentage of Profit after Tax to Operating Revenueincreased to 7.4 percent from5.9percent in the previous year.

Earnings Per Share (EPS) this year was Rs. 14.20 compared to Rs. 11.48last year.

TAKING POSSIBILITIES FURTHER

The last twelve months have helped to shape our view of what is unique about ourresponse to a changing world. Most importantly it meant balancing our ambition with thevalues that endure and using those principles to create a competitive advantage anddirecting all aspects of our business towards our fundamental goal: enhancing customerprofitability.

These pages of our annual report give me the opportunity to present to you a clearpoint of view about our vision the things that we believe really matter and what we thinkit all means for our business. Whether it is a customer a shareholder an employee or astakeholder in the broader community we feel it is important for each one to understandthe strategy of the Company the action plan that will support this strategy and itsrelevance to the issues we feel matter to them.

In my message last year I described the incredible transition that the Company isgoing through and what this shall mean for all of us. PTC has always distinguished itselffrom others by the paths it has taken and the laurels it has earned by following a path ofbecoming a technology leader and a disruptor in the market. While this journey is notwithout its ups and downs and demands great resilience and determination it alsopromises exciting new possibilities and extraordinary prospects for all its stakeholders.

During the year the global economic outlook has begun to look positive. The globaleconomy is growing at its fastest since 2010 supported by favourable financial conditionsmonetary policy normalisation and domestic demand growth.Domestically severalfar-reaching structural reforms including the introduction of the Goods and Services Taxwill bring imminent progress and help to reduce internal trade barriers increaseefficiency and improve tax compliance. These changes will however take some time tostabilise as a large number of smaller enterprises struggled with significant funds beingblocked due to initial implementation issues. The growth projections for the Indianeconomy are extremely bright as India continues to be one of the fastest growing economiesin the world accounting for nearly 15% global growth.

The Company's financial performance remained stable during this period even as LucknowPlant 1 operations faced disruptions due to the shifting of operations to the new AdvancedManufacturing & Technology Centre and a workers' strike. Revenue from operationsremained steady while profitability improved as some benefits of our new technologies andprocesses started coming in.

This consistent performance has been driven by a disciplined growth strategy and guidedby a set of clear strategic priorities. But it also reflects something more – adifference in how people across this organization think act and work together. Corporateculture is difficult to capture in a checklist or a questionnaire but it is a topicdirectly related to trust – the most valuable capital a Company maintains. It isrevealed in the beliefs that an organisation has committed to uphold and in the actions ofthe people who work there. And it is mirrored in the aspiration to grow revenue and profitin a way that respects all stakeholders.

We have known for some time that an unprecedented new revolution is coming. We arefortunate to be living in a time in history when advances in technology and innovation aregathering momentum at an extraordinary pace. PTC's commitment to consistent growth andsustainability remains unwavering during these turbulent times as does its ability toalign with the paradigm shifts and disruptive developments that are being brought into themanufacturing landscape by phenomena such as Industry 4.0.

PTC‘s strategy for survival has always been to use these challenges as a force tobring about positive change within the Company. This sets us apart from our peers andembodies our organisation's core values which we term as Aspire.The way forwardtherefore for us can only be guided by a coherent view of our responses to externalchanges. The past twelve months helped shape our view of what is unique about our responseto a changing world. It has helped us define how we can meaningfully serve our customerswhile also fulfilling our larger responsibilities. So most importantly it meant balancingour ambition with the values that endure and using those principles to create acompetitive advantage. And finally it was about directing all aspects of our business– our capabilities technologies and our passion – towards our fundamental goal:enhancing customer profitability.

The primacy of the customer is our focus. Nothing is more vital to us. We are buildingour business around what we think is most important because in a world where informationis so readily exchanged who you are and what you stand for is visible to everyone. Thecustomer remains at the centre of the six strategic values that drive our organisation.This year we focused our efforts to drive productivity build a culture of inclusivenessand leverage our state-of-the-art infrastructure and pathbreaking technologies to supportour customers in key global and domestic markets. We continued to invest in building astrong organisation that can deliver future performance and growth on a long-termsustainable basis.

Last year we formulated a new mission and vision statement for the Company – onethat defines our identity as an organization and sums up what we stand for and what wewant to achieve in the coming times. This year we have enumerated the values that formthe framework in which we work to realise that vision and mission. Armed with our visionmission and values we feel that our collective ability to bring unmatched benefits to thebusiness and the environment catalysed by our best-in-class technologies and innovationhas never been stronger.

During the year we have been fortunate to be joined by individuals who share ourpassion and pride for our goals and I am happy to welcome Mr. James Collins as the headof our Product and Process Development Department this year. Jim brings with him someincredible technical and operational skills with a vast experience of working on some ofthe unique technologies that we are in the process of absorbing and implementing at ournew plant. His capabilities and talents tie up beautifully with the opportunities offeredby one of the most unique and advanced manufacturing facilities that has ever been built.As part of the ongoing process of human resource upgradation and skilling we have alsoinducted new talent and expertise in many other areas including finance human resourceCNC machining etc.

The impact of all our efforts of the past few years is expected to translate intofinancial performance with the full operationalisation of the new AMTC Plant. However inthe short to medium term the financial outlook shall remain modest. We share an essentialoptimism that characterises the industry today and a confident belief that our focus ontechnology and innovation shall be rewarded by not just financial performance but alsothe loyalty and respect of our customers. This is a promise that we also intend to upholdto all our stakeholders as we deliver on areas that are important to them. Whether it isby providing an inclusive nurturing and positive working environment to our employees; orthe opportunity to live a life of dignity and betterment to our workforce; or thepossibility to partner with us for manufacture of world-class globally respected productsfor our suppliers we intend to be the organisation that you feel proud to be associatedwith for a long long time.

It is our promise to continue to be a ‘value-leader' by offering better pricesuperior technology higher efficiency and to deliver better value to all ourstakeholders: customers shareholders employees and society by economising optimisingre-designing re-engineering reclaiming and recycling and offering sustainablemanufacturing by imbibing the principles of Zero Defect – Zero Effect. These havebeen embodied in culture as we continue to deliver the highest quality parts whilehonouring our responsibility towards the environment and future generations.

I am deeply grateful to each of our customers suppliers bankers national and stategovernment agencies shareholders and employees for their willingness to embrace change aswe transform this Company for unparalleled success. We remain committed to making PTC aninnovative world-class leader that is not just a great company and a wonderful place towork but a company that empowers people to achieve their highest potential. We think nogoal can be more exciting than this for us.

It is our promise to continue to be a ‘value-leader' by offering better pricesuperior technology higher efficiency andto deliver better value to all our stakeholders:customers shareholders employees and society by economising optimising re-designingre-engineering reclaiming and recycling and offering sustainable manufacturing byimbibing the principles of Zero Defect – Zero Effect. These have been embodied inculture as we continue to deliver the highest quality parts while honouring ourresponsibility towards the environment and future generations.

I am deeply grateful to each of our customers suppliers bankers national and stategovernment agencies shareholders and employees for their willingness to embrace change aswe transform this Company for unparalleled success. We remain committed to making PTC aninnovative world-class leader that is not just a great company and a wonderful place towork but a company that empowers people to achieve their highest potential. We think nogoal can be more exciting than this for us.

Sachin Agarwal
Chairman and Managing Director