Letter to Stakeholder
Dear Stakeholders,
At the outset, let me welcome each one of you to 19th Annual General
Meeting of NIBE Limited and looking forward to meet you in person.
It is my privilege to present you our Annual Report for the financial
year 2023-24. The 2023-24 has been a very good year for Nibe on many fronts. Our financial
and operational performance was satisfactory and had set a base to take off in a
meaningful way.
The most encouraging aspect of the year has been the successful
commencement of state of art manufacturing facility at Pune
having 16 Mtr. VMC Machine of make Zayer, Spain equipped with the
latest Siemens control system, 840D, with machine feature X-16 Mtr, Y-5.75Mtr, Z-1.75 Mtr
ensuring unparalleled precision and efficiency, equipped with universal head 1X360 deg
accuracy and repeatability with 7 microns. This machine is capable of machining critical
large size components like missile launcher, sub frames, launching platforms in Defence,
Space and Aerospace applications
In addition to above, the year 2023-24, marked significant achievements
and the launch of numerous important initiatives has certainly set the right growth tempo
for the Company.
Financial year 2023-24 has been an outstanding year for Nibe, and I am
happy to inform you, Nibe has ‘Revenue from Operations? of Rs. 278.99 crores as
against Rs. 104.95 crores in the previous fiscal year, registering a growth of 165.83%.
Our ‘Profit Before Tax? and ‘Net Profit? recorded were Rs. 29.41
crores and Rs. 22.06 crores respectively, both registering a remarkable growth against
previous year.
Now we have cemented our position as a key player in the industry with
adequate capacities, operational accuracy, and skilled workforce and are well-positioned
for growth. Our commitment to quality, on-time delivery and customer satisfaction will
take us to the next level of success.
Human resources are our biggest asset of the Company, who work
restlessly with diligent towards company?s Make in India mission and vision. At Nibe,
we believe in people-first culture. We make continuous investment - in training and
providing excellent work atmosphere to retain talent. This is to ensure upskilling and
reskilling of people to make them ready for the challenges of tomorrow.
I extend my gratitude to all our Employees, Customers, Bankers,
Supply-chain Partners, Shareholders, Directors and the Central and State Government for
their continued support. I remain dedicated and look forward to your continues support.
Ganesh Nibe
Chairman & Managing Director