The results for the year are favourable as compared to the previous
year. Sales have increased in all our Three Divisions.
Income for the year is Rs.7,802 lakhs as compared to Rs.6,097 lakhs in
the previous year, showing an increase of 28%. Profit before tax is
Rs.551 lakhs as compared to Rs.373 lakhs in the previous year, an
increase of 48%. The Board of Directors has recommended a dividend of
Rs.20.00 per share (200%).
All Divisions of the Company have generally done well. Segments which
we serve like Auto, Power, R&D Establishments, Logistics and Pharma
have helped us to do better.
In the Engineered Products Division, we have done well in the
Electrical product-line, thanks to the booming Power Sector and efforts
put in by the Electrical Team.
We are also entering the Solar Energy segment where there is a synergy
with our existing business lines like inter-connectivity solutions and
Last year, we started new product lines - NTAS - Nano Technology and
Analytical Solutions. This is the new frontier of technology. We have
made small beginnings. We are planning to consolidate the same in the
Our Sound and Vibration business which has been affected by a general
slow-down, is expected to pick up in the coming year.
The Process Instrumentation business showed considerable improvement in
The Components business was relatively subdued as space buying
continued to be slow.
The Environmental Simulation line has been strengthened by the addition
of new Principals and Products and good business is expected in the
We have started focussing on technical services business where we offer
service products like repairs and calibrations, measurements and
analysis, training and consultancy. We plan to consolidate these
activities in the coming years.
In Industrial Finishing, heat and combustion lines have performed
satisfactorily. With the Auto sector reviving, we hope to do better
business in temperature profiling, furnace calibration and flow
measurements in gas.
The Material Handling Division has come up with an excellent
performance with markets taking an upward turn. Warehousing, logistics,
service providers, auto and pharma are showing significant growth which
is helping material handling opportunities.
Our Engineering Team has worked on several fronts - AC technology
electric forklifts and stackers, high capacity tuggers and stackers for
cold storage are some of the key achievements. Currently, Reach Trucks
are under development which could find good applications as warehouses
are becoming larger and taller.
Service activities have been strengthened with more focus on
availability of spares.
We thank our Employees, Principals, Bankers, Suppliers, Shareholders
and all the people associated with the Company, for their total
cooperation and support.
B. H. Reporter
Mumbai, 6th May, 2011.