Dear Valued Stakeholders,
I hope this message finds you in good health and high spirits.
As we reflect on the financial year 2024-25, it gives me great pleasure to share with
you the steady progress and strategic direction undertaken by Master Components Limited.
Throughout the year, we remained focused on our core principles of responsible growth,
operational discipline, and long-term value creation. Despite a dynamic and evolving
external environment, we have consistently worked towards reinforcing our presence in the
plastic manufacturing industry, with a specialised focus on precision assemblies and
sub-assemblies.
1. Financial Performance
During FY 2024-25, Master Components Limited demonstrated strong and sustainable
growth, with revenue from operations more than doubling and profit after tax rising by
over 143% to ?649.30 lakhs, which includes extraordinary items accounted for in the second
half of the year. This performance was fuelled by improved demand visibility, successful
entry into new markets, and the timely execution of strategic projects. The Company
undertook capital expenditure of ?1,206.30 lakhs during the year, reinforcing its focus on
long-term capacity building and future- ready infrastructure. Our long-term investments in
capacity and systems are beginning to yield results, and we remain optimistic about the
road ahead. The second half of the year was especially strong, benefiting from optimised
production cycles and enhanced operational control, with PAT of ?481.90 lakhs (inclusive
of extraordinary items). These results demonstrate the Company's continued commitment to
operational excellence and its ability to scale sustainably in a dynamic market
environment.
2. Strategic Initiatives
During the year under review, we completed the full deployment of IPO funds as planned
and also utilized internal accruals to undertake major expansion activities. These efforts
have significantly enhanced our capacity and created a solid platform for sustained future
growth.
We also initiated our entry into new market segments, notably healthcare &
childcare as well as precast industry applications, marking a key step in the
diversification of our product portfolio. These initiatives reflect our commitment to
innovation-led growth and continued alignment with emerging industry needs.
3. Market Position and Responsibility
Master Components Limited continues to strengthen its standing in the competitive
landscape of plastic components manufacturing industry, with a core emphasis on assemblies
and sub- assemblies through quality excellence, precision manufacturing, and
customer-centric delivery.
Alongside ongoing efforts to diversify into new markets, we are also actively engaging
in new projects within our existing customer base, further deepening our partnerships and
reinforcing long-standing relationships. These steps help us consolidate our presence
across sectors and establish a consistent value-driven reputation.
We are pleased to note an upward trajectory in our share performance since listing,
reflecting market confidence in our vision and execution. Our eco-conscious initiatives
have also begun to take form, with structured steps underway to align operations with
broader sustainability goals. Further details on these initiatives are covered in the
subsequent sections of this report.
Looking Ahead
As we look to FY 2025-26 and beyond, our strategic focus remains firmly anchored in
sustainable growth, operational excellence, and stakeholder value creation. We will
continue to explore opportunities in market expansion, process innovation, and responsible
manufacturing, while strengthening our governance framework in line with regulatory best
practices.
With a strong foundation and a future-ready mindset, we are confident of navigating
evolving industry dynamics and achieving long-term sustainability.
In closing, I would like to express my sincere appreciation to our shareholders,
employees, customers, and business partners for their continued trust and support. The
milestones we have reached are a collective achievement, and with your backing, we look
forward to an even more impactful journey ahead.
We remain committed to delivering long-term value while upholding the highest standards
of integrity, transparency, and corporate governance.
Thank you once again for your ongoing support.
Sincerely,
FOR MASTER COMPONENTS LIMITED
(Formerly known as Master Components Private Limited)
Sd/-
Mr. Mudduraj Chandrashekhar Kulkami
Chairman and Managing Director