Chairman's letter
FOREWORD OF THE MANAGING DIRECTOR
ESTEEMED SHAREHOLDERS, VALUED PARTNERS, COLLEAGUES, FRIENDS AND WELL-WISHERS:
It is both an honour and a pleasure to submit our Annual Report for the financial year
2024-2025. As I reflect on the year gone by,
I am filled with gratitude, for the resilience we have collectively shown, the
milestones we have achieved together and the direction we are heading as a company with a
purpose and global relevance and with great substance.
The financial year 2024-2025 will be remembered as a period of great achievement for
Sealmatic. It was a year that also brought with it profound global challenges, dynamic
economic realignments, regional conflicts, supply chain disruptions and a climate that
demanded exceptional leadership and adaptive strategy. And yet, amid all this, Sealmatic
thrived, stood firm in our purpose and executed with agility.
II am proud to report that in FY 2024-2025, Sealmatic achieved a remarkable 42% growth
in turnover, driven by robust demand across India, Europe, North America, Africa, Middle
East and Russia. Our Profit Before Tax (PBT) grew by 57% and Profit After Tax (PAT) by
61%. Our Earnings Per Share (EPS) also improved significantly by 61% as compared to the
previous year.
The company's net worth also increased by 17% and it stands at INR 102 crores, a
significant milestone and a reflection of our strong fundamentals. All this is testimony
to the fact, that the demand for Sealmatic products is very strong and is being driven by
the markets in India, Europe, Middle East, North America and other regions globally
opportunities ahead. Many changes in the world socio-economic situation made 2024-2025
another demanding financial year. Sealmatic significantly increased its investment in
2024-2025, focusing on the technology and sustainable modernisation as well as on
expanding and increasing the efficiency of our production capacities.
Sealmatic has created new best practice standard for the operation of mechanical seals
and systems across their lifecycle for energy intensive industries such as power
generation, oil and gas, chemicals and water desalination. This will address growing
demand for industrial energy efficiency. Sealmatic engineered mechanical seals offer a
comprehensive solution that tackles this inefficiency, from identification through to
improvement and monitoring.
GOING GLOBAL WITH STRATEGIC FOCUS:
During the year, we expanded our global footprint to over 63 countries, a testament to
the growing trust in our sealing solutions. Our sealing technologies are being applied to
some of the most demanding applications such as nuclear reactors, oil refineries, naval
submarines, onshore & offshore applications, pharmaceutical, food processing and other
critical process sectors.
In the Middle East, Europe, Russia and USA, we are currently expanding our foot prints
to support various OEMs and End Users. A cornerstone of our global expansion is the launch
of SealTech LLC in Abu Dhabi, a joint venture aimed at delivering world-class service
capabilities, addressing the needs of major customers like ADNOC, OEMs like Sulzer,
Sundyne, KSB, Ebara, RuhrPumpen and host of other EPCs such as Maire Tecnimont, Saipem,
PEG, Worley, Wood Group and many other important customers. The UAE mechanical seal market
valued at nearly USD 70 million, is now a strategic opportunity for us and this service
centre will go live by July end 2025.
Russia has been a good opportunity and a lucrative market for us, we are putting a
major thrust over there, we have participated on a continuous basis in exhibitions, until
now and in the period of 12 months we have participated in two important exhibitions with
a great success, thus our focus in Russia is in a strategic manner.
Similar activities which were being conducted in an exploratory stage in Oman, Kuwait
and Qatar for the Middle East region are now gaining momentum. A state-of-the-art service
centre, which is similar to Abu Dhabi is under discussion in Oman, Kuwait and Qatar.
TECHNOLOGY, INNOVATION & R&D
At Sealmatic, R&D & Innovation is not a department, it is the DNA of our
organization.
We continued to invest significantly in our R&D Centre, where we have commissioned
advanced test rigs and developed cutting-edge gas seal technologies for critical sectors.
We also introduced high-efficiency sealing systems that enhance equipment lifecycle,
reduce emissions, and lower energy consumption thus; delivering tangible operational value
to our customers.
Our focus on critical applications, including API 682 compliant oil & gas
mechanical seals, nuclear, naval marine and high pressure/temperature/speed applications,
remains a key differentiator. They are mission critical needs where reliability is
non-negotiable and Sealmatic continues to be the partner of choice for such critical
applications.
SEALMATIC 2030 & BEYOND - A LONG-TERM VISION
Looking ahead, we have laid the groundwork for our "2030 & Beyond"
strategy, which seeks to align our long-term goals with the evolving needs of our
customers, market trends and sustainability necessities. This strategy focuses on:
Strengthening our presence in high-potential geographies.
Continuing investment in R&D for next generation sealing solutions.
Building regional service centres specifically in Middle East region, to reduce
turnaround time and enhance customer proximity.
Deepening our technical and engineering capabilities through talent and
digitalization.
Leveraging our Sealmatic 2030 Vision to grow with structure, focus and agility.
Through this roadmap, we aim to make Sealmatic faster, stronger and more
sustainable.
World Geopolitics:
Across the world, the past year saw significant geopolitical and economic events that
had far reaching consequences. The war in Ukraine continued to disrupt energy supply
chains. The Red Sea shipping disruptions raised transportation costs and created logistic
bottlenecks across Asia & Europe. Inflationary pressures and interest rate hikes
remained key concerns for both developed and emerging markets.
While Southeast Asia and India emerged as attractive manufacturing hubs. India, in
particular, stood out not just for its strong GDP growth, but also for its political
stability, a successful general election and government led initiatives in infrastructure,
defense and industrial development.
In parallel, global conversations around climate change, carbon neutrality and energy
transition gained momentum. Countries recommitted to their green goals and industries
across sectors began accelerating innovation in efficiency, emissions reduction and
sustainable operations.
It was in this environment of complexity and transformation that Sealmatic not only
held its ground, but advanced its global mission with strength and clarity.
What Matters:
Working with best-in-class global OEM customers like KSB, Kirloskar, RuhrPumpen,
Sulzer, ITT and many others, reinforces two consistent themes, resilience in geopolitical
uncertainty and action-oriented sustainability. These OEM customers teach us themes of
global industrial resilience which is rooted in sustainability, operational excellence and
forward-looking innovation. Their rich experiences and strategies have taught us with
meaningful benchmarks thus helping us to align with industry best practices, embrace
global trends and reinforce our relevance on the world stage. Referencing these OEMs
validates our positioning in high stakes critical sectors such as energy, chemicals, water
etc., and highlights the growing OEM focus on pump efficiency, lifecycle extension and
sustainability.
PEOPLE, CULTURE & RESPONSIBILITY
Behind our numbers are our people.
Our dream team, from design engineers to workshop technicians, from field service
engineers to commercial managers have worked tirelessly, with integrity and purpose, to
keep Sealmatic moving forward. I extend my deepest appreciation to each of them. Their
efforts make all the difference.
In addition, our CSR initiatives in education, destitute care, women empowerment and
healthcare have continued with renewed focus. We are not just building a business; we are
building a better tomorrow for our communities.
GRATITUDE & COMMITMENT
In closing, I want to sincerely thank:
Our shareholders, for your trust and long-term vision.
Our customers, for giving us the opportunity to serve and grow with you.
Our employees, for their dedication and innovation.
Our partners, who walk with us every step of the way.
The year ahead will come with its own set of opportunities and uncertainties. But one
thing is certain that Sealmatic is ready.
Ready to lead. Ready to adapt. Ready to create impact.
We remain committed to being a technology leader, a responsible corporate citizen, and
a dependable global partner and, in many ways, more agile, more personal and more
connected to our mission and vision.
Thank you very much for being part of this incredible journey.
With Warm Regards,
Umar A K Balwa - Managing Director
Mr. Umar A K Balwa
Managing Director.