BSE:532906 | NSE:MAANALUEQ | 58888:manalu | IND:Aluminium | ISIN code:INE215I01019 | SECT:Metals - Non Ferrous
Dear Fellow Shareholders
We are proud to share the performance for our company for Financial Year 16-17, during the period Maan Aluminium has once again demonstrated its strong determination to continuously deliver value to its shareholders and also provide sustainable growth, thus building a stronger organization.
The company has seen immense growth and the same is reflected in our numbers, year on year we can see the total revenue has increased from 190.33 Cr last year to 349.56 Cr this year, which is more than double. Most of the growth is attributed to trading, in addition to an increase in our export market.
Twists & Turns in the Indian Market place
The demonetization drive by the government impacted the extrusion industry equally but it only showed minimal deviation in performance and revenues of Maan Aluminium Ltd. On the other hand the implementation of the Goods and Services Tax (GST), which is a major milestone in Indian policies is seen as a positive impact on our industry and hopefully widen the market for organized stakeholders.
The commodity market has seen a good recovery across the board which has helped the primary and secondary manufacturers to improve pricing and margins. In addition, as per the World Bank forecast India is expected to grow at 7.2%; highest among the developing economies of the world, signifying opportunities for expansion through global business channels.
In comparison, developments in China on air pollution will result in production cuts during the winter months which would help strengthen global aluminum prices. Further more the United States has raised dumping issues against China and this would help developing economies especially India to increase exports to the United States.
The growth of our company has been immense and we will continue to stride forward in the coming years as well. Growth forecasted in the next financial year will be influenced by the positive impact of domestic and global policies, in addition to inclusive growth via increased capacity utilization and expansion.
Ravinder Nath Jain
(Chairman and Managing Director)
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