Maan Aluminium Ltd

Dear Fallow Shareholder

It is with great pleasure and a profound sense of responsibility that I present the annual report for Maan Aluminium Limited. This year has been filled with both remarkable achievements and significant challenges, and I am honoured to share with you the strides we have made and the path that lies ahead.

Reflecting on Our Achievements

As we look back on the past year, I am proud to report that Maan has continued to strengthen its position as a leading player in the aluminium extrusion industry. Our commitment to excellence and innovation has been unwavering, and the results are evident in our performance.

• Operational Excellence: We have achieved a 20% increase in production capacity of value added products, thanks to our strategic investments in state-of-the-art technology and infrastructure. This has not only enhanced our operational efficiency but also allowed us to meet the growing demands of our customers with greater precision.

• Financial Performance: Despite the fluctuating market conditions, we have posted a robust financial performance, with a 17% increase in revenue.FY 2023-24 revenue stood at f. 95302.77 lacs compared to the previous year FY 2022-23 at f. 81385.49 lacs. We have seen a significant drop in profitability from the previous year our PBT stands at f. 4397.27 lacs for FY 2023-24, down by 34%. We have worked significantly in debt reduction and this can be seen in our results as well, our debt to equity stands at 0.20 compared to 0.42 in previous financial year.

• Sustainability Initiatives: Our dedication to sustainable practices remains at the core of our operations. We work tirelessly to reduced our carbon footprint and have made significant strides in recycling and waste management. These efforts are not just good for the environment but also align with our long-term strategic goals.

Addressing Challenges

While we celebrate our success, we must also acknowledge the challenges we have faced. The global economic landscape has been volatile, with fluctuations in raw material prices and supply chain disruptions affecting our operations. However, our proactive approach and strategic planning have enabled us to navigate these challenges effectively.

Our teams have demonstrated resilience and adaptability, and I am confident that we will continue to overcome obstacles and turn challenges into opportunities for growth.

Looking Ahead

As we move forward, our focus remains on sustaining our growth and enhancing shareholder value. We are committed to:

• Innovation and R&D: Investing in research and development to drive innovation and create cutting-edge products that meet the evolving needs of our customers.

• Market Expansion: Exploring new markets and diversifying our product portfolio to capture emerging opportunities and strengthen our global presence.

• Talent Development: Fostering a culture of excellence and investing in our people to ensure that we have the skills and expertise needed to drive our business forward.

Acknowledgements

I would like to take this opportunity to extend my heartfelt gratitude to all our stakeholders - our dedicated employees, valued customers, supportive shareholders, and trusted partners. Your unwavering support and commitment have been instrumental in our success.

A special thanks to the Board of Directors for their guidance and to the entire management team for their hard work and dedication. Together, we have achieved significant milestones, and together, we will continue to build a brighter future for Maan Aluminium Limited.

Conclusion

In closing, I am optimistic about the future of our company. With a clear vision, a strong foundation, and a talented team,

I am confident that Maan Aluminium Limited will continue to thrive and achieve new heights.

Thank you for your continued support and trust.