Our investment in Engineering Research & Development (ERD) has
resulted in the development of new alloys for critical applications in various emerging
business segments. These alloys have been well-received by the industry due to our
substantial investments in personnel, materials, and equipment.
F. D. Neterwala
Chairman
Dear Shareholders,
I am pleased to present the 51st Annual Report for the financial year
2023-24. With over five decades of expertise, Uni Abex is committed to expanding our
global footprint in the metallurgical sector. We continue to serve niche markets by
utilising exotic alloys and superior technologies, striving to become a worldwide industry
frontrunner. By seizing global opportunities and expanding our geographical reach, we are
solidifying our position as one of the leading manufacturers of centrifugal and static
castings in heat, wear, and corrosion-resistant alloys.
The global economic movement for FY 2023-24 shows steady growth in the
iron and steel, petrochemical, fertilizer industries. This trend positively influences the
demand for our products, as these industries require durable and efficient materials for
their operations.
As I conclude this message,
I extend my gratitude to all our stakeholders for their continued
support. Together, we will navigate the opportunities and challenges ahead, ensuring a
prosperous future for Uni Abex.
In our 51st year, I am thrilled to announce that Uni Abex has achieved
record financial performance, with a revenue of RS 17,999 lakhs, EBITDA at RS 5,339 lakhs,
PBT at RS 4,808 lakhs and PAT at RS 3,546 lakhs. This success reflects our
management?s commitment to talent development, continuous ITMS system upgrades, and
the adoption of informed business practices. Our investment in market research has
provided valuable insights, guiding our expansion into new geographies and enhancing our
strategic direction.
Our investment in Engineering Research & Development (ERD) has
resulted in the development of new alloys for critical applications in various emerging
business segments. These alloys have been well-received by the industry due to our
substantial investments in personnel, materials, and equipment. We have established
strategic partnerships with leading research institutes to enhance our material science
expertise. Modernising our production facilities has improved productivity and increased
overall capacity. This allows us to manufacture complex parts at competitive prices,
thereby supporting local manufacturing in India as part of the ‘Make In India?
campaign.
At Uni Abex, quality is at the core of our operations. We provide
superior products and services, as evidenced by the numerous accolades and accreditations
we receive from customers globally. We are proud to announce that we have been awarded the
prestigious ‘Two-Star Export
House Certification? by the Directorate
General of Foreign Trade (DGFT) this financial year.
Our organisation is deeply committed to Corporate Social Responsibility
(CSR) initiatives aimed at enhancing community welfare and healthcare services. A
significant portion of our CSR efforts is allocated to skill development programs for
children in government schools. We strive to create lasting societal value through
vocational training initiatives led by the Maneckji Shirnbai Neterwala Foundation, which
aims to improve job opportunities for the underprivileged. Additionally, our healthcare
initiatives, in partnership with local NGOs, extend to nearby villages, ensuring
widespread impact.
I am delighted to announce a record dividend payout of 250% (INR 25 per
share), underscoring our commitment to rewarding our loyal shareholders.
As I conclude this message, I extend my gratitude to all our
stakeholders for their continued support. Together, we will navigate the opportunities and
challenges ahead, ensuring a prosperous future for Uni Abex.
Warm Regards,
F. D. Neterwala