AFFLUENCE

The topline grew by 24.77% in FY 22 over FY 21. The PBT grew by 3.25% in FY 22 over FY 21. The PAT grew by 8.57% in FY 22 over FY 21. PBT % to sales went down to 29.93% in FY 22 Vs 36.16% in FY 21 mainly on account of increase in costs caused by geo-political tensions between Russia and Ukraine. Our Raw material producers in Germany suffered huge increases in energy prices because of which the Raw material cost went up . Average cost / KG of RM in FY 22 was Rs 4,150/- Vs Rs 3,588/- FY 21 . Most of the consumable prices also went up due to the same reason and hence over all we ended up with a lesser profitability than the previous year . PAT % to sales went down to 23.07% in FY 22 Vs 26.52% in FY 21 as the expenses were higher than the previous year . We expect that the profitability of FY 23 will be at the same levels as in FY 22.

The company continues to monitor the energy efficiency of all its equipments, electrical appliances, computer peripherals etc used in the Company premises. The Company during the year under review generated / Consumed 70040879KWH of power as against the previous year generation/ consumption of 70040879 KWH. The Company, in a continuous manner, devising and implementing additional proposals/mechanisms for reduction of consumption of energ

Research and Development (R & D) :The Company continues to evaluate the possibility of utilizing various metal compounds for manufacture of the components with an objective to improve the technical properties of the final product. This is an ongoing effort and the effect of this R&D effort would continue to impact positively the future turnover of the company.Technology Absorption, adaptation and innovation:-The company has been able to absorb the technology satisfactorily. Constant efforts are underway to use the technology for manufacture of components for various industries

Foreign Exchange Earnings : Rs.1,86,170 /-Lakhs Foreign Exchange Outflow : Rs.53,598 /-Lakhs

Pursuant to Section 134(5) of the Companies Act 2013, the Directors confirm that: a)In the preparation of the annual accounts, applicable Accounting Standards have been followed along with proper explanation relating to material departures. b)They have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period. c)They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. d)They have prepared the annual accounts on a going concern basis. e)They have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.