Dear Esteemed Shareholders,
It is with great pride and appreciation that I address you to reflect
on our company's remarkable journey. This moment gives us the opportunity to celebrate the
milestones we've achieved together and to share our vision for the future. Your commitment
and trust in our mission are what propel us forward, and for that, I extend my deepest
gratitude.
This past year has been a testament to our collective strength. We have
faced complexities in a rapidly changing market, yet our ability to remain resilient,
agile, and innovative has positioned us to overcome challenges and seize new
opportunities. Our team's dedication to pushing boundaries and driving excellence has been
truly inspiring. This commitment is evident in our robust financial performance in FY
2023-24, driven by a significant increase in institutional sales. We achieved growth of
118% in revenues up from 4654.97 lakhs in FY23 to 10143.20 lakhs in FY24. Profit after tax
turned positive to 1203.5 lakhs in FY24 from (37.05 lakhs) in FY23.
Throughout the year, we achieved substantial operational milestones,
such as optimizing our inventory management through advanced analytics and better
production scheduling. We actively pursued opportunities in the German market, recognizing
the robust industrial sector and high demand for precision weighing systems as a promising
avenue for growth. The post- COVID landscape, especially with the anti-China sentiment,
has prompted German companies to seek alternative suppliers, leading to a surge in demand
for our weighing scales. During their visit to India, German delegates inspected numerous
facilities, including our own, and were impressed enough to place orders for our
prototypes. This development not only opens new avenues for us in Europe but also
strengthens our position as a global player.
Domestically, we have been taking into consideration the market
feedback and enhancing our weighing scale products further to fulfil customer
requirements. We are expanding our presence in the commercial markets of Madhya Pradesh,
Rajasthan, Jharkhand, Punjab, Telangana, and Uttar Pradesh, expecting a sizeable increase
in revenue from these regions in the coming years.
Now, we are also expanding our market reach with new security and
automation products. Our plans to introduce new products under this segment reflect our
strategic vision of leveraging technological advancements to enhance our market position.
With over 1,500 installations completed and currently undergoing review and improvements,
we are poised to supply these innovative products to hotels, homes, and offices soon. We
will also be implementing specific marketing campaigns for these products in the near
future.
Looking ahead, we are excited about the potential of venturing into the
development and production of drones with various agricultural applications. I am proud to
announce the successful flight test of our first agriculture drone model NADR-10, carried
out in farms in Nandurbar district of Maharashtra. This drone is designed to ease
fertilizer spraying, enhance crop monitoring and yield optimization, and promises to
revolutionize farming practices. Equipped with state-of-the-art sensors, and GPS
technology, it provides real-time data and actionable insights to farmers, enabling them
to make informed decisions and increase productivity.
We anticipate an average CAGR growth of 25% across all business
segments over the next 35 years.
Your belief in our journey and your continued support have been
invaluable, and together, we look forward to a future filled with growth and success
| With warm regards, |
| Yours sincerely, |
| Sd/- |
| Rajesh Bhatwal |
| Managing Director |