Dear Shareholders,
The year gone by has been exceptional for us at Hilton Metal Forgings Limited. It has
been characterised by unparalleled achievements and substantial advancements in our
operations. I am truly privileged to extend my gratitude to our esteemed stakeholders for
their everlasting trust in Hilton. At the outset, I would like to present a brief overview
of our journey and milestones achieved throughout the years.
The journey of Hilton Metal Forgings Ltd started with the manufacturing of Stainless
Steel Forged Items. Over time, we have emerged as the nation's emerging producer of
automobile crankshafts and Railway Wheels. Today, our Company stands as a venerable Indian
manufacturer with over two decades of legacy, specialising in producing and supplying
intricate and safety- critical, heavy-forged, and high-precision machined components
towards petrochemicals, automobiles and railway industry.
Leveraging our vertically integrated operations, we are deeply involved in engineering,
process design, rigorous testing, manufacturing, and the seamless supply of a diverse
range of components to both domestic and global original equipment manufacturers (OEMs).
Our commitment to growth and innovation is perfectly encapsulated in our overarching
theme for this fiscal year, Accelerating Engineering Excellence. Driving Value Accretive
Growth.' It underscores our dedication to leading transformative advancements within the
industry and reaffirms our determination to drive a positive paradigm shift in engineering
excellence.
The global economy witnessed a remarkable resurgence in the past year. It recovered
from recent upheavals, prompting central banks to halt interest rate hikes amid moderating
inflationary pressures. However, persistent geopolitical tensions and the Red Sea crisis,
including the strife between Israel and Palestine, continue to present significant
challenges. Amidst all this, India stands out as a beacon of economic dynamism, showcasing
the fastest growth among major economies and attracting substantial foreign investments,
thus solidifying its pivotal role in the Global South. This economic upswing is fuelled by
India's vibrant and youthful demographic dividend alongside a conducive business
environment.
The global forging and machining markets are currently experiencing steady growth. The
forging industry is poised to reach an impressive US$97.0 bn by FY 2029, with a projected
Compound Annual Growth Rate (CAGR) of 5.1% for forging. Similarly, the machining industry
expects a CAGR of 5.2%, surging towards a value of US$71.2 bn. In terms of the
non-automotive sector encompassing farm equipment, off-highway vehicles, and industrial,
the global forging and machining markets are expected to reach approximately $35.2 bn and
$13.3 bn, respectively, in 2025. These figures are likely to escalate significantly to
approximately $47.4 bn and $18.0 bn by the year 2029, reflecting a promising trajectory of
growth and expansion.
Hilton Metal Forgings has demonstrated robust growth, registering a healthy CAGR of 34%
and 33.98% in revenues and profits respectively over the last 5 years. It gives me immense
pride to showcase our Company's transformation into a leading entity within the forging
and machining sectors. By strategically realigning our business model, we have expanded
our footprint across diverse sectors and enhanced our portfolio of products and services.
Our core focus remains on developing solutions that reduce carbon emissions and boost
operational efficiency, thereby promoting ecofriendly practices. We recognise the need to
be an environmentally responsible organisation and are committed to halving Scope 1 and
Scope 2 emissions by 2030. At the heart of our vision lies a relentless pursuit of
pioneering sustainable and environment-friendly innovations. We are dedicated to making a
tangible impact by fostering a greener future and actively contributing to global
sustainability efforts.
Our dedication goes beyond our workplace's confines to foster community well-being as
well, exemplifying our commitment to redefining possibilities by repurposing resources for
educational advancement and societal betterment. At HMFL, we remain determined to pursue
innovation, sustainability, and operational excellence. Our strategic investments and
sustainable practices will continue to drive value creation for all stakeholders while
contributing to creating a resilient and prosperous future for generations to come. In
conclusion, I sincerely thank our esteemed stakeholders for their unwavering support and
trust in Hilton Metal Forging Limited. Together, we embark on an exciting journey of
continuous growth and achievement, pushing the boundaries of possibility and innovation to
new heights.