It gives me immense pleasure and privilege to place this annual report (first afterlisting of securities of Company) before you with a sense of thankfulness and gratitude toall associated with the Company. Your trust and faith in the Company are inspirationalforce for Tirupati and it encourages us to work hard and harder in the growth process ofthe Company.
The journey of the last financial year has been quite eventful and the most fulfillingone ; wherein your Company got converted from a Private Limited Company into a PublicLimited Company and the Equity Shares of the Company got listed on the Emerge Platform ofNational Stock Exchange of India Limited (NSE EMERGE) on Thursday October 12 2017. Inits Sixth year of Incorporation the Company rose up with Initial Public Offer (IPO) ofRs. 522 Lakhs. Due to overwhelming support across corners the issue size gotoversubscribed and the Listing has been eventful with added responsibility to performbetter and better in coming times. We have moved ahead with beacon of your trust and faithand with a resolve to improve innovate and add to the reputation and glory of the companyday by day month by month and year after year.
At this point of time I have the pleasure and privilege to share main highlights ofthe last financial year's performance (2017-2018) and outlook for the next financial yearas mentioned below:
Total Revenue from Operations increased from Rs. 160999515/- of previous F.Y2016-17 to Rs. 207907254/- of the reporting financial year.
Profit before exceptional & extra-ordinary items and tax increased fromRs.7110439/- of previous F.Y. 2016-17 to Rs. 21309953/- of the reporting financialyear.
Net Profit increased from Rs. 4943339/- of previous F.Y. 2016-17 to Rs.15452581/- of the reporting financial year.
Earnings Per Share (EPS) for the F.Y. 2017-18 is Rs. 3.57/- as compared to Rs.1.97/- of F.Y. 2016-17.
This has been possible despite various constraints on the export front like increasedduties levied by the US Government on export of steel flanges from India. The abovenumbers for the financial year under review are encouraging but at the same time we havepulled up our sleeve to perform better and better in the coming years also. I also takethis occasion to thank each and every employee of the Company for the hard work they haveput in consistently. Human Assets are the strength and key to Company's success and weaspire to grow together in this competitive environment.
Further I take pleasure to inform our esteemed Stakeholders that the Company hasinitiated the process of expansion of the factory unit in the current financial year.The expansion would help the Company to increase it's manufacturing and productioncapacity and to widen its domestic and international markets for sales of products anddevices and add more and more revenues and profits from the increased operations.
Last but not the least the assistance and support from Bankers Investors Vendorsand most importantly our customers are highly valuable and I express my respect deepregards and heartfelt thanks to them without whom the wheels of progress cannot move atdesired speed.
"Woods are Lovely Dark and Deep.
But I have Promises to keep.
Miles to Go before I Sleep.
Miles to Go before I Sleep."
- Robert Frost
The above quote from a poem by Robert Frost is what inspires me in my personal andprofessional life. Our Company believes in perseverance & determination and is alwaysready to face new challenges and hurdles in its path without which the flow of progressdoes not gain higher velocity just like the flow of water in a river.
Hiteshkumar G. Thummar
Chairman & Managing Director