NSE:MMPEQ | 58888: | IND:Aluminium | ISIN code:INE511Y01018 | SECT:Metals - Non Ferrous
Let me begin by sharing the good news that by all accounts, the transitional difficulties of demonetisation and GST implementation are over and the economy is now once again on the expected growth of 7-7.5%. This will mean more formal jobs in the economy and a possible growth rate of 8-9% in the next 2-3years.
Your Company is well placed to exploit the favourable market conditions in the construction and mining sectors where we feel a growth rate of 8-10% is very well achievable.
The key financials of MMP:-
Revenue from Operations (Gross) grew by 10.01% over FY2016-2017 at Rs. 24924.39 Lakh
EBIDTA margins grew by 41.97% over FY2016-2017 at Rs. 3023.90 Lakh
PBT (excluding exceptional item) grew by 56.43% over FY2016-2017 at Rs. 2437.36 Lakh
PAT (standalone) grew by 6.06% over FY2016-2017 at Rs. 1537.17 Lakh
PAT(consolidated) grew by 10.59% over FY2016-2017 at Rs. 1903.61 Lakh
I am very pleased to report that MMP has been listed on the NSE Emerge platform on 12 April 2018. This is a very significant and happy milestone for your Company which started operations in 1983 with a turnover of Rs. 78 Lakh and has now reported a Net turnover of Rs. 24273 Lakh in FY2017-2018.
This is the result of the untiring efforts of our dedicated team of employees and all stakeholders. A SME Company''s progress in the dynamic Indian business environment is largely due to an emphasis on personalized customer service in addition to product consistency. Our team has believed in this philosophy and will continue to enhance our customer relationships.
With the floating of equity in the capital market, MMP''s responsibility to its shareholders and all stakeholders has increased significantly. A transparent communication method coupled with our relentless focus in the implementation of our new projects, specially at Umred MIDC, with the sole objective of consistent operational performance is our assurance to our valued shareholders.
With our JV Company - Toyal MMP India Private Limited, MMP expects to open up aluminium powder markets in the South East Asian region in the coming years. Our Associate Company - Star Circlips & Engineering Limited continues to perform well in the auto component field with EBIDTA margins of29% during the FY2017-2018.
We will look forward to sustained shareholder relationships and value their confidence in the Company. We hope to deliver good results in the future times.
Let us work towards a new growth phase together and make MMP a world brand in the aluminium products sector in the coming years.
Chairman & Managing Director
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