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Simplex Castings Ltd.

BSE: 513472 Sector: Engineering
NSE: SIMPLEXCAS ISIN Code: INE658D01011
BSE 00:00 | 27 Jan 47.90 2.30
(5.04%)
OPEN

45.00

HIGH

48.00

LOW

45.00

NSE 05:30 | 01 Jan Simplex Castings Ltd
OPEN 45.00
PREVIOUS CLOSE 45.60
VOLUME 243
52-Week high 54.75
52-Week low 32.60
P/E 5.03
Mkt Cap.(Rs cr) 29
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 45.00
CLOSE 45.60
VOLUME 243
52-Week high 54.75
52-Week low 32.60
P/E 5.03
Mkt Cap.(Rs cr) 29
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 AnnualReport for the FY 2021-22.

It gives me great pleasure to address you all as we collectivelycontinue to navigate through the challenges posed by the pandemic. We express ourgratitude to all those with whose support India managed to quickly return to the growthpath.

As we celebrate "Azadi Ka Amrit Mahotsav" this year wecontinue to be proud of our nation's past achievements and remain confident ofadvancing further on the path of progress.

The Indian economy sharply bounced back in FY 202122 with robust GDPgrowth of 8.7% after 6.6% contraction reported in the previous year due to restrictionsand lockdowns imposed by the Government to control the spread of COVID-19 pandemic.

Government expenditure and domestic spending has supported the economycomplemented by a long-term focused growth-oriented budget. The initiatives undertaken bythe Government in the recent past such as the commodity-intensive National InfrastructurePipeline (NIP) and Production Linked Incentive (PLI) scheme to boost local manufacturingwill play a big role in making India a manufacturing hub for global majors. This isencouraging and such bold and scalable programmes are instrumental in realising thevision of a self-reliant India.

FINANCIAL AND OPERATIONAL PERFORMANCE

Our Company revenue from operations rose by 14% at Rs 9183.85 Lacscompared to Rs 8055.76 Lacs in FY 2021-22. The Profit Before Tax (PBT) and Profit AfterTax (PAT) for the year 2021-22 were Rs 202.95 Lacs and Rs 152.15 Lacs respectively asagainst Rs 146.67 Lacs and Rs 101.03 respectively during the previous year ended 31 March2021. With the improvement of economic conditions in these markets we anticipate furtherincrease in sales volume and profitability in the near future.

OPERATIONAL REVIEW

We are happy to inform you that recently the Company has bagged anorder worth of Rs 11.58 Cr from Rourkela Steel Plant and Rs 26.00 Cr from Zarman Polandfor supply of Coke Oven Doors.

As on 31st March 2022 the Company has pending order worthof Rs 96.15 Cr.

THE ROAD AHEAD

Looking ahead we will continue the next phase of our growth journey bystrengthening the quality of customer engagement sharpening existing strong procurementand logistics practices enhancing safety and sustainability efforts and nurturing aprogressive work culture.

Recent unfortunate geopolitical developments in Europe are directly andindirectly impacting the global economy which withstood the COVID-19 challenges to agreater extent. We are optimistic yet cautious in managing associated risks which aretoo early to predict.

Your directors and we thank our shareholders and other stakeholders -employees customers partners bankers and Government Agencies - for their continuedtrust and support. We remain committed in acting as trustee to create long-term value forall our stakeholders.

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