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BSE Code : 544134 | NSE Symbol : PLATIND | ISIN : INE0PT501018 | Industry : Chemicals |


Chairman's Speech

Forging Ahead:

Transformative Growth and Strategic Excellence in FY2024

Dear Shareholders,

I am delighted to present to you the Annual Report for Platinum Industries Ltd. for the financial year 2024. This year has been a transformative period for our company, characterised by robust financial performance, strategic market expansion, and resolute commitment to innovation and sustainability.

Our product mix is intricately aligned with India's growth trajectory. As a leading player in the specialty chemicals sector, our range of PVC and CPVC additives, metal soaps, and lubricants is integral to the nation's infrastructure and industrial development. The surge in urbanisation, infrastructure projects, and the burgeoning automotive and healthcare sectors in India are significantly bolstering the demand for our products. Specifically, our products enhance the durability and performance of PVC pipes, fittings, wires, cables, SPC floor tiles, and packaging materials, which are critical to these expanding industries. Our diverse product portfolio ensures that we are well-positioned to capitalize on these growth opportunities, providing a hedge against cyclicity and ensuring safety in diversity. This strategic approach reaffirms our role as a pivotal contributor to India's economic progress.

Our Research and Development (R&D) initiatives remain a cornerstone of our growth strategy. The state-of-the-art R&D facility in Dhansar, Palghar, is the hub of our innovative endeavours. This year, we havemadesignificant strides in developing new formulations that meet the stringent environmental and quality standards required by our global clientele. Our continuous investment in R&D not only enhances our product offerings, but also solidifies competitive edge in the market. For instance, our technical collaboration with HMS Concept E.U., led by Dr. Horst Michael Schiller, has been instrumental in pioneering advanced and eco-friendly solutions. By also focusing on sustainable innovation, we are ensuring that

This year, we have made significant strides in developing new formulations that meet the stringent environmental and quality standards of our global clientele.

Mr. Krishna Rana

Chairman & Managing Director our products remain at the forefront of the industry, meeting the evolving needs of our customers and the regulatory landscape.

Our strategic expansion into new markets is a testament to our vision of becoming a global leader in our chosen group of specialty chemicals. We are excited about the upcoming operationalisation of our new manufacturing facilities in Egypt and India within the next four quarters. These plants will significantly augment our

Our financial performance for FY24 represents the culmination of sustained effort and dedication over the years.

production capacity and provide us with strategic access to lucrative markets in the MENA, European and Latin America regions. The establishment of these facilities is poised to propel us into a new orbit of growth, enabling us to efficiently meet the escalating global demand for our products. Additionally, these expansions will optimize our freight and transportation costs, keeping us competitive and accessible.

Our financial performance for FY2024 represents the culmination of sustained effort and dedication over the years. I am pleased to inform you that we achieved a revenue of

2,643.92 million, reflecting a 14% increase from the previous year.

Our Operating EBITDA grew by 16% to 636.89 million, and our Profit After Tax (PAT) reached 435.02 million, showcasing a robust PAT margin of 16%. These figures are a testament to our strategic initiatives and operational excellence. Our balance sheet remains strong, with a low debt-to-equity ratio of 0.02, reflecting our prudent financial management. This robust financial health positions us well to undertake further strategic investments and navigate potential market fluctuations with confidence and resilience.

As we look ahead, we remain committed to driving sustainable growth through innovation, expanding our global footprint, and maintaining our market leadership.

Our focus will be on leveraging our enhanced production capacities, exploring new market opportunities, and continuing our investment in R&D to develop innovative solutions that meet the evolving needs of our customers. We also aim to maintain our leadership position in the domestic market while expanding our global footprint through strategic investments and partnerships.

In closing, I extend my heartfelt gratitude to our dedicated employees, valued customers, esteemed shareholders, and all other stakeholders for their support and trust in Platinum

Industries Ltd. Together, we will continue to drive progress and build a sustainable future. This annual report captures our journey of driving progress through technological advancements, sustainable practices, and strategic global partnerships. It reflects our commitment to pioneering solutions that not only meet today's demands but also pave the way for a sustainable future.

Sincerely,

Mr. Krishna Rana

Chairman & Managing Director Platinum Industries Ltd.

   

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