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PPAP Automotive

BSE: 532934|NSE: PPAP|ISIN: INE095I01015|SECTOR: Auto Ancillaries
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Chairman's Speech (PPAP Automotive) Year : Mar '18

My Dear Shareholders,

I commence my address by thanking each one of you for your continuous support.

I am happy to report that currently, we are in the midst of good times and there is good news all around. On our national front, it is a matter of joy for us that the Indian economy is now ranked as the 6th largest economy in the world and soon it will be the 5th largest. On the GDP front, according to various estimates, our economy is likely to grow by 7.3% this year and the growth is expected to accelerate to 7.5% next year. Currently, the Indian Automotive industry is ranked as the 4th largest in the world and before the year 2020 it is likely to be the 3rd largest.

Now, coming to your Company, the Financial Year 2017-18 has been an interesting year, wherein your Company has been able to deliver its best ever performance. Your Company was able to delight all its stakeholders - its customers, suppliers, employees, shareholders, as well as, the society at large.

Our economy witnessed some challenges due to the introduction of the Goods and Service Tax and various policy changes due to which growth was an issue. Our country has also been facing challenges on the inflation front due to the rise in crude oil prices and foreign exchange rates.

Despite all these disruptions, it gives me great pleasure in sharing with you that your Company was able to navigate through these turbulences and expanded by establishing its presence in all the major automotive hubs in the country.

I take pride in informing you that this year, we achieved an unprecedented EPS of Rs. 26.72 which is an increase of 49.27% as compared to the previous year.

Your Company’s quest for adding new customers and new products has resulted in a revenue growth of 15% and an EBIDTA margin up to 21%. The increase in our margins reflects our relentless focus on operational efficiency, profitable and sustainable growth.

The final dividend for the Financial Year 2017-18 proposed by your Board of Directors is Rs. 2.50 per share which is subject to your approval. The total dividend will be Rs. 4.50 per share, which comes to 45% of the face value of the equity share of your Company.

Your Company continues its focus on improving its operational efficiency so that we are able to build a fundamentally strong foundation on which your Company can survive and grow in perpetuity. This focus of ours, will ensure that your Company will continue to delight all its stakeholders over the long term, as well.

We have commenced the installation of solar power in our all manufacturing facilities as we are committed to reduce our carbon footprint and increase the use of renewable energy.

This year our Research and Development efforts have been recognized by the Department of Scientific and Industrial Research, Ministry of Science and Technology, New Delhi.

Your Company has also improved upon its activities for the preservation of our Environment, as well as, on encouraging Education for the deprived through its CSR initiatives. On the greening front, your Company has supported the plantation of 50,000 trees of native species in the National Capital Region.

Your Company is changing constantly to meet the challenges that future will bring about. We are constantly engaging with our OEM’s customers and their Tier 1 suppliers to transform ourselves to meet their needs and also scout for growth opportunities. We are also foraying into the two-wheelers segment, as well as, the commercial vehicle space. We are not leaving any stone unturned in our quest to find new business opportunities to achieve profitable growth.

Before I conclude, I once again take this opportunity to express my sincere gratitude to you for your relentless support. I also thank our respected customers for trusting us with their business on a long term basis. I also express my gratitude to our technology partners, our bankers and our suppliers for facilitating the conduct of smooth business operations. Last but not the least, I thank every single employee of the Company who has stood by the core values of the Company and worked shoulder to shoulder throughout the year to deliver our superior performance.

I on behalf of the entire PPAP family assure you that we will continue on our journey to achieve global level excellence and do our best to be the pride of the industry.

Yours truly,

Ajay Kumar Jain

Chairman & Managing Director

Source : Dion Global Solutions Limited
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