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Chairman’s Message Chairman’s Message
Engineering & manufacturing excellence since 1983.

chairman speaks.

Mukesh Bhandari
 

Mukesh Bhandari

Chairman

We have created Electrotherm on the core values of Empowerment, Performance Oriented Culture, Customer Success, Technological Differentiation & Social Responsibility and Environment. Over the past 36 years, Electrotherm has come a long way in contributing to developing the core sectors of the Indian economy through Greenfield and Brownfield investments. Our recent expansion into newer geographies reinforces our aim to become a truly global player.

In view of the above, we believe that the Engineering and Technologies Division, which is a major supplier to the Steel Industry, will continue to grow at a rapid pace even from here. Newer products like LRF, APCS and Scrap Processing Machines are expected to contribute more to the total sales of the E&T division starting this year.

The Steel & Pipe Division of the Company continues to do well. ET TMT, the TMT brand of Company, has further consolidated its market share in Gujarat and continues to command a Price Premium. The Company has, during the year, received approvals from a few Key Government Organizations for supply of TMT. This should augur well as Company commissioned its third TMT Rolling Mill. The Company is seeing more demand coming for its TMT products from the fast growing Infrastructure Sector. The Pipe Division also sustained its performance during the year with an increased focus on Exports.

The Company has achieved an overall increase of 32% in its gross consolidated sales and an increase of 97% in its EBIDTA over last year. The gross consolidated sales touched Rs.4681 Crores during the year. The cash flow generated from operations is allowing the Company to meet all its banking repayment obligations.

On behalf of the Board, I thank all the Shareholders of the Company for their support during the year. I would also like to thank the Lenders, Suppliers, Customers, various National and State Government Organizations with whom we have been working, the Employees and the Associates who have stood by the Company and I look forward to their continued support in the future.