Dear Shareholders,
Greetings to each of you as we reflect upon a year of remarkable accomplishments for
Aaron Industries. I trust this message finds you and your loved ones in good health and
spirits. Looking back, the past year has proven to be a monumental chapter in our
Company's narrative. It is with great delight that I present the synopsis of our journey
through the Financial Year 2022-23.
In the face of relentless uncertainties, Aaron Industries displayed unparalleled
resilience, agility, and adaptability, culminating in a record-breaking EBITDA
performance. This year witnessed an unwavering commitment to business restructuring,
innovation, and growth, resulting in surpassing our own benchmarks in the first three
quarters itself.
The fiscal year under review marked a turning point, showcasing a resounding
transformation in our Turnover and profitability. Notably, our total income surged to
Rs.5591.30 Lakhs from Rs.3777.73 Lakhs, marking an impressive growth of 48.01% over the
previous year. Equally commendable, our Profit before tax scaled to Rs.743.46 Lakhs from
Rs.486.08 Lakhs, translating to a substantial increase of 52.95%. Net Profit surged from
Rs.370.92 Lakhs to Rs.540.44 Lakhs, signifying an outstanding growth of 45.70%
year-on-year. The impact of our Kosamba Unit's operation was pivotal, particularly in
driving growth within the Steel polishing segment. This segment flourished, reporting
revenues of Rs.1447.24 lakhs compared to Rs.900.33 lakhs the previous year, reflecting a
substantial growth of 60.75%. This unit's strategic role in the supply of SS sheets,
crucial raw material for our primary products - Elevator doors and cabins - significantly
reduced our dependence on external suppliers, enhancing our operational autonomy.
In light of these exceptional achievements, I'm pleased to announce that the Board of
Directors has recommended a final dividend of Rs.l/- per fully paid-up equity share,
underscoring our commitment to enhancing shareholder value. Our alignment with growth
prospects positions us optimally to amplify margins and profitability.
At this juncture we are propelling into a planned and promising trajectories, I extend
my heartfelt gratitude to our esteemed Board for their sagacious guidance, and our
diligent team for their unwavering dedication in meeting and exceeding customer
expectations. My sincere appreciation also extends to our stakeholders, whose steadfast
support fuels our journey and diverse endeavors. With fervent enthusiasm, we embark on the
next leg of our journey, equipped to harness opportunities and ensure a sustainable
business. Here's to the future, brimming with promise to grow.
Warm regards,
Mr. Amar Doshi
Chairman &. Managing Director