At Incredible Industries Limited, our journey of Performing,
Integrating, Expanding - motto reflects our unwavering commitment to excellence,
collaboration, and growth. As we continue to build on our strong foundation, our focus
remains firmly on driving innovation, enhancing operational efficiencies, and expanding
our footprint to meet the demands of the future.
Performance review
In FY 2024, Incredible Industries achieved significant financial
growth. Our Net Revenue increased from 74,101.83 Lakhs in FY 2023 to 82,034.72 Lakhs in
FY 2024, registering a growth of 10.7%, driven by enhanced operational efficiencies and
expanded market reach. Our Profit After Tax (PAT) also witnessed a growth of 21.6%, rising
from 490.73 Lakhs in FY 2023 to 596.80 Lakhs in FY 2024, primarily due to improved cost
management and product innovation.
Our Book Value increased to 28.36, reflecting a strong balance sheet,
while our Market Capitalisation saw a remarkable growth, increasing from 8,534.38 Lakhs
in FY 2023 to 17,209.06 Lakhs, indicating increased investor confidence. Additionally,
our Net Worth improved from 12,662.95 Lakhs in FY 2023 to 13,260.63 Lakhs, showcasing a
solid foundation for future growth At Incredible Industries, we brought an unusual passion
to our workplace every single day. We continued to believe that this is the only insurance
in a sector where realisations are largely beyond our control and the only realities that
we can truly control is our enriched multi product domain in which one product acts as an
intermediary for the other thereby generating multi sources of revenue; robust product
quality and operating efficiency.
There is a good reason why passion and planning has a critical role to
play in our Company. We are a multi-decade enterprise, with focus on producing quality
products. Through a set of dedicated customer base and repeat orders backed by meticulous
planning we were able to achieve growth and create a holistic shareholders value.
Brand "Adhunik"
The increasing variety and options in the market have elevated the
importance of brand leadership, which is closely tied to the quality of both products and
services. At Incredible Industries, we are dedicated to further strengthening the
"Adhunik" brand by ensuring stringent quality control across our product range
and fostering a culture of strong work ethics. Additionally, we are implementing
advertising and on-ground marketing strategies to boost brand recognition and popularity
among our target customers. This holistic approach has been instrumental in helping us
achieve our strategic objectives and continues to drive our success.
Focus on governance and sustainability
At Incredible Industries, we have always held the belief that the
viability of our Company depends on our ability to safeguard our area of operations from
emissions and effluents. With the aim of fully complying with numerous regulatory
requirements and broadening our sustainability obligations, the Company made proactive
investments in people, plant, and processes. We are formulating our sustainability
strategy, along with a short-term and long-term roadmap in consultation with all
stakeholders. Further, we have augmented our capacities to reduce wastages without
compromising on the quality of finished products. We strive to maintain zero-effluent
discharge and significantly reduce noise and dust pollution. We also continue to support
various communities beside our plant, employ the local talent, and promote healthcare,
rural development projects and projects towards upliftment of the society in general. We
are also inspired to look more closely at the human capabilities that strengthen our
businesses. The human resource empowers our people and helps build a culture of
transparency & ownership. We combine professionalism with the binding values of
family, support and respect employees, and promote entrepreneurship to provide a happy and
caring culture. This not only improves employee wellbeing and productivity, but it also
propels them to higher goals of going beyond self and organisation to serve the consumers
and make a tangible difference to their lives. This ultimately translates into financial
performance and customer satisfaction. Besides, our strong focus on various governance
standards with the insight of a strong management team, has always held us in creating
value based growth for the stakeholders of our Company.
Domestic steel industry overview
In the grand narrative of industrialization, metals have always stood
as the sturdy backbone, with steel reigning supreme among them. As nations forge ahead in
their quest for economic development, the production and consumption of steel emerge as
quintessential yardsticks. At the forefront of this global narrative stands India, proudly
claiming its position as the world?s second-largest producer of crude steel, a
testament to its industrial prowess and relentless growth trajectory. Indian Steel
Industry contributes to all the facets of the economy, including GDP, industrial and
infrastructural development. The steel industry contributes approx. 2.5% to national GDP,
employing 2.5 million people, directly & indirectly. The output effect of steel on the
Indian economy is approx.1.4 times, with an employment multiplier of 6.8 times. India is
currently the second largest steel producer in the world. As of March 31, 2024, Indian
crude steel production rose by 13.20% on a y-o-y basis to reach 144.04 MT. India?s
domestic finished steel production in FY 23-24 rose by 12.70% on y-o-y to reach 138.825
MT. This growth was primarily driven by rising infrastructure development and growing
demand from sectors like automotive, construction, consumer durables & capital goods.
Under the National Steel Policy and National Mission of Atmanirbhar Bharat, the government
is aiming to increase India?s annual steel manufacturing capacity to 300 MT and per
capita steel consumption to 160 kg by 2030 which currently stands at 86.7 kg.
Our way forward
India is expected to report steady growth over the foreseeable future.
This growth will be manifested in rising disposable incomes and increased aspirations.
Given this context, I am pleased to state that Incredible Industries Limited is the right
company in the right verticals at the right time. My optimism stems from the fact that we
have created a strong foundation and a rich repository of sectoral experience. The
products in which your company deals are both used by industries and consumers and since
our products command premium value, it helps in quick sales realisation.
We will continue to focus on enhancing efficiency, optimizing costs and
increasing liquidity and preparing for the big leap when the sector rebounds. We are
optimistic that this will translate into superior margins, returns on capital employed and
market capitalization, enhancing value in the hands of all those who own shares in our
company.
With warm regards
Rama Shankar Gupta
Chairman & Managing Director