The company has a diversified customer base spread across various industries and geographies. During FY21, FY22, FY23 and the period, April 2023 to August 2023, the company sold 1,487 machines to over 1,050 customers in the domestic market and export markets, including the US, Switzerland, Russia, Nepal, Kenya, Uganda, UAE, Saudi Arabia and other countries in the Middle East.
The company’s products are sold to a wide range of industries, including metal fabrication, pre-engineered building, agriculture equipment, kitchen equipment, machinery manufacturing, automotive, food processing, furniture, HVAC, elevators, steel, etc.
During the last three financial years (FY2021, FY2022, FY2023) and the five-month period of April 2023 to August 2023, the company has supplied 1,487 machines to over 1,050 customers in the domestic and export markets of the US, Switzerland, Russia, Nepal, Kenya, Uganda, UAE, Saudi Arabia, and other countries in the Middle East.
In FY2023, the company sold 500 machines to over 400 customers. In FY2023, it sold a hydraulic shearing machine to CERN, the European Organisation for Nuclear Research based in Geneva, Switzerland.
The company reported revenue from operations of Rs 476.12 cr, Rs 783.52 cr, and Rs 995.63 cr, in FY2021, FY2022 and FY2023 respectively. For the same time periods, it reported Profit after tax (PAT) of Rs. 9.53 cr, Rs. 33.61 cr and Rs. 79.00 cr respectively.
The company does not have long-term supply agreements with its customers. If these customers choose not to source their requirements from the company, it may adversely impact their business and results of operations.
The company does not have long-term agreements with suppliers for input materials. Any significant disruption in supply chain or costs can adversely impact the company’s business.
The company has contingent liabilities worth about Rs. 0.40 crores that have not been provided for in the financial statements.
There are outstanding legal proceedings against the company, its directors and promoters. Any adverse decisions could adversely impact the company’s business.
The company manufactures the metal forming machines in Sanand, Gujarat. Since this activity is concentrated in this geography, any adverse developments in this region can negatively impact the business.
The company has total outstanding debt of Rs 24.21 crores. Any inability to service this debt could impact the company’s ability to borrow further.