It gives me pleasure in presenting to you the 32nd Annual Report of the
Company and thanking you for your continued support and goodwill that is critical to the
success of your Company. I, on behalf of the India Steel Board of Directors would now like
to highlight some key aspects of the year under review:
Revenue generated during the FY 2018-19 of Rs. 55.757.06 lakhs, the same in last year
was Rs. 99,682.86
Lakhs, so EBITDA has fallen to Rs. 1,880.11 Lakhs.
Net worth of the Company has reduced to Rs. 17,410.60 lakhs from Rs. 18,001.26 lakhs in
F.Y. 2017-18 to, due to loss suffered by the Company for the year ended 31st
March, 2019.
We believe that in staying true to our motto of "Inner Vision. Global Action"
we will maintain our relationships with all our stakeholders, grow continuously, and match
the world’s best in stainless steel, having a perfect combination of Dedication, Aim
and Route Map.
While our Management team & employees took significant initiatives to improve the
operating performance, market challenges offset the benefits of internal improvement
efforts leading to significant profit erosion. Our in house testing labs are equipped with
world class testing equipment and our quality control team works independently to
guarantee that there is no compromise on the quality of steel that we deliver.
Finally, I would like to take this opportunity to thank you as the shareholders of the
Company for your support & motivation to the Company during the year. I would also
like to thank the lenders, customers, suppliers, various national & provincial
governments with whom we have been working, further shall appreciate the employees,
workers and Unions of India Steel group Companies who have stood by the Company & I
look forward to their continuous dedication and support in the future.
Yours Sincerely,
Sudhir H. Gupta MD
DIN: 00010853