Management’s Perspective
I’m pleased to share that our expansion efforts are right on track, and we are eagerly anticipating the installation of new machines and completion of this phase by end of FY24.
Despite headwinds, FY23 was one of our best years in terms of performance and value creation. Our cash accruals were H 103.48 crore. The capacity utilisation rate for the year stood at 71.32%. Net debt has been reduced from H 290 crores to H 225 crores. As a result, the debt-to-equity ratio is 0.87. In addition, our working capital cycle was also reduced, taking into account client credit and procurement requirements, thus bolstering our cash flow.
We continue to focus on building new and innovative products that cater to a wide range of downstream industries.
We employ specialised manufacturing techniques to create prototypes and assist our customers in reducing the time to market for innovative product ideas. We are also continuously searching for methods to increase our production efficiency, and we have recently implemented a number of automated technologies to assist us in this endeavour.
