Dear Shareholders,
I trust this message finds you well and in good spirits. It gives me great pleasure to
share that, over the past seven years since our listing on the Bombay Stock Exchange
(BSE), your company has consistently grown at an impressive pace, always prepared to seize
new opportunities in an ever-changing business landscape.
As part of our strategic endeavours, our expansion into the East African market is
making remarkable strides, delivering highly promising outcomes. Through our step-down
subsidiary, Quantum Lubricants E.A. Ltd, we have secured an exclusive distribution
arrangement for our premium lubricants and allied products across Uganda, Tanzania, and
Rwanda. This partnership is set to open new horizons for customers in these regions,
offering state-of-the-art solutions that enhance equipment efficiency and prolong service
life. With this strategic collaboration, your company anticipates that its East African
business will surpass INR 100 crore in revenue within the next two years.
Amidst consistent growth compared to the previous fiscal year, the company's total
income has surged to an impressive INR 1,088 million, while maintaining steady growth in
EBITDA and PAT. By reaching and exceeding the INR 100 crore milestone in top-line revenue,
Maximus has not only achieved its FY24 targets but has also laid the groundwork for an
even more promising future.
Maximus has maintained a stable growth trajectory throughout all the quarters of FY 24,
demonstrating its ability to overcome challenges while remaining profitable since its
inception. As a leading manufacturer and distributor of specialty lubricants, with a
robust presence in African and Middle Eastern markets, the company is well-positioned to
capitalize on new opportunities and achieve even greater success. The future looks
exceptionally promising, supported by our solid financial performance, stable financial
position, unwavering compliance, and strong corporate governance.
In closing, I would like to extend my deepest gratitude to all our shareholders for
your unwavering support and confidence in our journey. Together, we will continue to
explore new horizons, seize opportunities and build a brighter future for your company.
Yours Sincerely,
Dipak Raval
Chairman & Managing Director.