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Simplex Castings Ltd.

BSE: 513472 Sector: Engineering
NSE: SIMPLEXCAS ISIN Code: INE658D01011
BSE 00:00 | 24 Sep 38.50 -1.20
(-3.02%)
OPEN

40.50

HIGH

40.50

LOW

37.75

NSE 05:30 | 01 Jan Simplex Castings Ltd
OPEN 40.50
PREVIOUS CLOSE 39.70
VOLUME 3768
52-Week high 74.70
52-Week low 13.50
P/E 13.10
Mkt Cap.(Rs cr) 24
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 40.50
CLOSE 39.70
VOLUME 3768
52-Week high 74.70
52-Week low 13.50
P/E 13.10
Mkt Cap.(Rs cr) 24
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Simplex Castings Ltd. (SIMPLEXCAS) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives us pleasure to present to you your Company's Annual Report for the FY 2019-20.

"Change is the only constant"- Heraclitus

We are facing an unprecedented crisis - the novel Corona Virus Disease (COVID-19) aglobal pandemic which has not only affected economies across the world but turned livesupside down. Resilience Compassion and Hope are the need of the hour.Hence I urge you tobe safe positive and optimistic to overcome these challenging times.

The global economic growth forecast for the year was already indicative of macrouncertainties owing to the US-China trade tensions rising protectionism stringentmonetary policies etc. Though the economy was poised for a modest rebound the outlookcontinued to be fragile against the backdrop of rising debt and declining productivity.The growth in emerging and developing economies was expected to be better with Indiaremaining one of the bright spots. However the onset of the COVID-19 has caused thedeepest global recession in several decades. While the ultimate outcome is stilluncertain the pandemic is expected to result in contractions across economies causinglasting damage to labour productivity and potential output.

FINANCIAL AND OPERATIONAL PERFORMANCE

The company's operations were effected from 24th March 2020 to 23rd April 2020 due tosuspension of production across all plants following nationwide lockdown imposed byGovernment of India In view of pandemic COVID-19. Government permitted certain activitiesin the month of April 2020 subject to certain restrictions. Accordingly the Company hasre-started operations in phased manner from 23rd April 2020 & from May 2020 all theplants are operating normally. Three months moratorium for deferral on payment of loan andother Credit facility taken from Company Bankers and NBFC falling due in March - May 2020are availed. The Company has further avail the moratorium facility from June 2020 toAugust 2020.

The Company is following all relevant Government directives and guidelines regardinghealth and safety of the workforce on their all the premises.

The Company had registered a revenue from operations (from Continuing operations) of Rs5442.51 Lacs as against Rs 10712.76 Lacs during the year FY 2018-19.

The Profit Before Tax (PBT) and Profit After Tax (PAT) (from Continuing operations) forthe year 2019-20 were Rs (5676.38) Lacs and Rs (4535.55) Lacs respectively as against Rs(1862.72) Lacs and Rs (1449.86) respectively during the previous year ended 31 March2019.

The Profit Before Tax (PBT) and Profit After Tax (PAT) (from Discontinuing operations)for the year 2019-20 were Rs.1680.17 Lacs and Rs 1680.17 Lacs respectively as against Rs(631.44) Lacs and Rs (132.33) respectively during the previous year ended 31 March 2019.

The Profit for the year 2019-20 were Rs (2855.38) Lacs respectively as against Rs(1582.18) Lacs respectively during the previous year ended 31 March 2019.

On a Consolidated basis During the year ended 31 March 2020 the Company hadregistered a revenue from operations (from Continuing operations) of Rs 7804.62 Lacs asagainst Rs 13727.93 Lacs during the year FY 2018- 19.The Profit Before Tax (PBT) andProfit After Tax (PAT) (from Continuing operations) for the year 2019-20 were Rs (5679.35)Lacs and Rs (4537.69) Lacs respectively as against Rs (993.77) Lacs and Rs (580.90)respectively during the previous year ended 31 March 2019.

The Profit Before Tax (PBT) and Profit After Tax (PAT) (from Discontinuing operations)for the year 2019-20 were Rs.1680.17 Lacs and Rs 1680.17 Lacs respectively as against Rs(1509.58) Lacs and Rs (1010.47) respectively during the previous year ended 31 March2019.

The Profit for the year 2019-20 were Rs (2857.52) Lacs respectively as against Rs(1591.37) Lacs respectively during the previous year ended 31 March 2019.

MSME REGISTRATION

Pursuant to the amendment in the definition of MSME under the MSME Act Company hadapplied for the registration and received the Registration Number i.e. UDYAM-CG-05-0000018.

THE ROAD AHEAD

"The only time you fail is when you fall down and stay down"-Stephen Richards

In view of the fast pace of change that the Company is facing in all fronts we havedecided to build on our strengths i.e knowledge of Customers need skills available withour manpower and acceptance as quality supplier by adding more sectors in our focus ofoperations.

Your Directors and We thank our shareholders and other stakeholders - employeescustomers partners and Government - for their continued trust and support. We remaincommitted in acting as trustee to create long-term value for all our stakeholders.

With Best Wishes
Ketan Shah Sangeeta Ketan Shah
Chairman Managing Director

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