It is my pleasure to share with you all the progress of our Companyover the last year. It indeed was an eventful year for us at Salzer. We focussed not onlyon driving sustainable growth but also increasing the efficiencies across all ourbusinesses with a clear target on improving our return on capital employed. I am happy toshare that despite continued sluggishness and challenges in the economy in general andindustry in particular we demonstrated a robust growth across all performance parameterslike revenue EBITDA profit after tax and return on capital employed. This growth takesus one step closer to the long-term goals which we have set for ourselves.
I am also pleased to share that our Company's CRISIL credit rating hasbeen upgraded from 'CRISIL A- /Positive' to CRISIL A/Stable for long term borrowingreflecting our strong position in terms of our balance sheet and credit worthiness. OurCompany has received the prestigiouslnternational Automation Task Force (IATF)Certification and ISO TS 16949 certificate for both our magnetic wire and the cabledivisions reflecting our strong position in terms of our balance sheet and creditworthness. Such developments serve as a strong testament to our leading position in thedomestic rotary switchgear market and motivate us to further drive innovation in theindustry.
During the year our Company registered a revenue growth of 26% Y-o-Yto Rs. 560 crores from Rs. 443 crores in FY18. Our EBITDA was at Rs. 63.6 crores as
against Rs. 53.3 crore in FY18 representing a growth of nearly 20%Y-o-Y. Profit after tax was at Rs. 24.0 crore during the year as compared to Rs. 20.0crore in FY18 a YoY g rowth of 20%.
This growth was mainly driven by increased contribution from our keybusiness segments of Industrial Switchgear and Wires & Cables. Our two newly launchedproducts in the Industrial switchgear segment - three phase dry type transformers and wireharness have been successful and continue to witness good traction and are growingsteadily.
In the wires and cables segment we have also started to manufacture andsell products under the brand 'Salzer' which is receiving significant enquiries and isgaining momentum.Also we have shown significant growth in Export marketing particularly toGermany. Going forward we are confident of growing this business and increasing ourrevenue contribution from this segment. Our Salzer brand of products represents our visionof technological innovation while creating value for stakeholders through operationalefficiencies.
Our Building product segment the only B2C business segment witnesseda growth of 98% during the year. This segment has been growing rapidly on the back of agood product portfolio and increasing focus on the retail business. We are conductingpromotional activities to create awareness for our products under this segment and aim toincrease the share of this segment to around 10% of our total revenue over the comingyears.
R. DORA I SWA MY Managing Director
Our energy management an order book driven division offers completeenergy saving solutions such as streetlight controllers for corporations across thecountry. We have successfully commissioned a large project in Tamil Nadu in the past andexpect good business coming in from EESL in the near future.
Creating Value for Shareholders
Though the current business environment continued to pose newchallenges; our Company has shown the resilience to manage such hurdles. We have beensystematically investing in research and innovation to make newer and better products forour customers. We continue to make meaningful progress in our businesses through thelaunch of new products optimally utilizing our available resources to improveefficiencies thereby creating sustainable & long term value.
In line with our long term strategy of profitable & value creatinggrowth I am happy to share that the Board has consented to the acquisition of a majoritystake in Kaycee Industries Limited a preindependence Company with a legacy of over 75years. Kaycee Industries is a pioneer in the industrial switchgear business. Thisacquisition would further boost our Company to increase its market share in the industrialswitchgear segment and consolidate our industry leadership in this niche product. Thesynergies with Kaycee will also enable us to enhance strengthen and grow our suite ofproduct offerings.
India is one of the world's fastest growing major economies. Butinterestingly it is still a developing country. At different levels there are governmentdirectives to replace older redundant systems to
achieve operational safety and security in industrial establishments.Under these developments on the consumption side India is emerging as a significantplayerand market on the global map.
We at Salzer are excited about the opportunities that the industry hasto offer going forward. We are well- positioned to capitalize upon the same with ourfocus on innovation and improving efficiencies. We continue to work on sourcing globaltechnologies to manufacture products in India and have entered into technical tie up'swith globally renowned players to develop technically advanced products for our customers.
I am proud to have a motivated team of people resolved to performbetter and to seize the opportunity for sustainable & profitable growth. Together wewill continue to focus on growing our business improving our working capital cycle &efficiencies leading to a higher return on capital employed. Our united aim is not just todrive sustainable growth but also to create value through efficiency and innovation.
I would like to thank our employees for their untiring efforts theBoard for their guidance all our stakeholders including bankers for their consistentsupport and encouragement in all our endeavours. We continue to look forward to yourguidance and support motivating us to reach newer heights and aim higher!