The Financial Year 2018-19 augured well for your company wherein despite lot ofturbulence in the economy and at marketplace we held our head steady and clear. Bycontinuing to focus on the selected growth of our addressed markets we could put up agood performance by registering a more than three-fold revenue growth over last year andending up with good bottom-line for the company
Performance of the Company
On Standalone Business:
The Company put up a stellar performance by more than tripling its Sales Revenue forthe FY 2018-19 by clocking a revenue of INR 2829.51 Lakhs as compared to INR 848.49 lakhsin previous fiscal year.
Our Net profit after tax for the fiscal year 2018-19 also significantly increased toINR 358.25 Lakhs as compared to INR 48.77 Lakhs in previous fiscal year.
The aggregate market value of Investment made by the Company in listed equities stoodat INR 3790.84 lakhs as on 31st March 2019.
On Consolidated Business:
The Company witnessed a turnaround performance by recording a Net profit after Tax ofINR 367.86 Lakhs for the fiscal year 2018-19 as against a Net Loss after tax of INR 55.52Lakhs for the previous fiscal year. The Company's total revenue marginally increased toINR 32422.51 Lakhs against INR 31431.60 Lakhs in the previous fiscal year.
The Company continues to focus on Investments in Niche stocks that have high resiliencedespite market vagaries; Stocks that remain to be strong growth stocks with excellenttrack records. The Company's Strategy of Building Portfolios and investments backed up bylot of research and professional guidance helped the company in its better performance forthe FY 2018-19. The Company has been improving its portfolio outlook by adopting prudentpractices in the decision-making process based on robust due diligence and continuousmonitoring methodology. The underlying principles of focussing on companies with strongfundamentals such as low debt dividend track records Visionary leadership at promoter'slevel cutting edge industry focus credit rating proven track record and High Potentiallow visibility have continued to be an integral part of company's strategy and growthpath.
Looking ahead with confidence
We enter FY 2019-20 with great confidence and determination backed up by a goodperformance in FY 2018-19 despite the general economic scenario in India which was notthat conducive to Industry at large. After the formation of a Government backed up by awhopping and decisive majority and the recent budget announcement for the Fiscal 2019-20the intent at policy level seems to be good by looking at all the sectors holistically.The concerns relating to NBFC sectors has been addressed well which will provide the boostto the mongering hopes in the days to come. The injection of Rs 70000 crores is also agood step to improve the structure of PSU Banks. Further the push for digital India andraising government debt externally are the stepping-stones for a 5 trillion economy. Makein India impulse could be felt by the effort to raise import tariffs on various goods. Ourview on equity markets in long term is positive though in the short term we expect themarkets to sail in waters of high volatility since the economy is in the transition stage.Overall we expect a much better 2019 and beyond. We expect decent returns from the Indianmarket in FY 2019-20 on the back of supportive macro-economic variables strong earningsgrowth and sticky domestic flows. Over the long term the India growth story remainscompelling driven by favourable demographics. In the medium term some of the structuralreforms like GST IBC empowerment to rural masses with Direct Benefit Transfer (DBT)improvement of basic infrastructure in rural areas (power cooking gas housingsanitation etc.) along with the massive USD 5 tn. infrastructure spending program shouldhelp maintain growth. Also per capita income is set to double over the next decade as theeconomy moves towards being the third largest in the world by 2025 at about USD 5 tn.Based on the above factors we would continue to maintain our committed allocation toequities and Closer Focus and Scrutiny of performing Scripts as we believe on a long-termhorizon of investments With the core belief that clear focus strategy and level-headedactions would lead to better results I do expect your company to continue its upwardperformance path in the current scenario.
I do believe "Companies that succeed have momentum. The more they succeed themore they want to succeed and the more they find a way to succeed. Confidence unlocksevery opportunity in life. Pressure challenges they are all an opportunity for thecompany to rise". And the incredible part is that you have been wonderful partners inthis progress at all times. That instils confidence as well as inspires the company to putup a strong performance in Future.
I express my thanks to all our Directors for your constant guidance involvement andencouragement. Thank you shareholders for your unstinted support over the years.
"Our primary ethos of integrity will continue to be the driving force. We willcontinue to put the company's interests above all and run it in an honest manner throughups and downs"
With best wishes.
Chairman and Managing Director