Our performance was encouraging despite the economic uncertainty and
other challenges as we expanded our market by increasing footprint in the global markets.
Dear Stakeholder,
The past year has presented unprecedented challenges due to the
COVID-19 pandemic; it has been a time of significant uncertainty and a test of resilience.
However, amidst these unpredictable times, we have witnessed remarkable progress. Several
countries, including India, are now emerging from the throes of the second and third waves
of COVID-19. I am hopeful that the worst is behind us and that better days are ahead.
Given the scale of the challenges posed by the pandemic, we swiftly put in place measures
to ensure safety and combat the pandemic.
Our performance was encouraging despite the economic uncertainty and
other challenges as we expanded our market by increasing footprint in the global markets.
Our exports grew 61.6% compared to the previous year, despite the global container crisis,
sea freight challenges, and political instability. Our major markets are African
subcontinent and the Middle East, with large Induction Furnace capacity. Despite travel
restrictions throughout the year, we won orders from many new customers in multiple
countries. Our on-time deliveries and product quality spoke for itself and soon we began
to receive enquiries from other clients too, requisitioning first-time consignments. Our
profit for the year increased by 94.7% to 17.85 crore from 9.17 crore in the previous
year. This was largely due to improved customer and product mix, high efficiencies, and
operating leverage.
We are gauging possibilities and exploring opportunities in the global
market of ramming mass production and customised lining solutions. We have proved our
mettle with respect to our clients within the country as we have focussed on improving our
terms of trade.
We are now embarking on the next phase of growth with our strategic
initiatives to serve a growing global and domestic market. We are expanding our ramming
mass production capacity adjacent to our existing plant in Tonk Dist., Rajasthan. This
expansion will increase our total production volume and market share in India and abroad
and will enable us to develop various value-added ramming mass products at a larger scale
in the market. Our high-value ramming mass for foundries has seen green shoots of
acceptance in the market. We are increasing penetration in non-steel markets such as
foundries, quartz slab, and other refractory products. This, I believe, will result in
huge business growth and profitability.
In another significant move, we have strengthened our leadership team
by onboarding various professional and highly experienced management personnel. With this,
RPEL will benefit from diverse talent and skill sets which will enable the organisation to
move into the next orbit of growth.
In a nutshell, we are constantly vigilant to all the external and
indigenous factors that will enable us to enhance our market position, operational
efficiency, financial strength, and overall benefits to stakeholders. The opportunities
are immense; and we are well placed to serve the growing demand for ramming mass and other
refractory products worldwide and drive sustained growth.
Finally, I would like to offer my immense gratitude to our Board,
shareholders, bankers and the broader RPEL family that have stood by us through these
testing times and helped us navigate the uncertainties.
My sincere thanks also go out to our dynamic team members who worked
tirelessly to deliver the highest levels of service and continue to progress with
optimism. I look forward to your continued support as we embark on this new phase of
growth.