FY24 AR Observations:
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49th Annual General Meeting of the Company scheduled to be held on Saturday, September 28, 2024 at 04:30 P.M. through Video Conferencing (VC) or Other Audio-Visual Means (OAVM)
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Re-appointment of Mr. Harish Chandra Gupta as Chairman & Managing Director of the Company: Aged about 78 years is the co-founder of the Company | Remuneration upto ₹ 32,00,000/- per month | Past Remuneration: Remuneration upto ₹ 17,82,000/- per month
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Re-appointment of Mr. Anurag Gupta as Jt. Managing Director of the Company: Aged about 49 years is one of the promoter of the Company | Remuneration upto ₹ 21,00,000/- per month | Past Remuneration: Remuneration upto ₹ 11,43,000/- per month
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Re-appointment of Mr. Arvind Veer Gupta as Dy. Managing Director of the Company: Aged about 48 years is one of the promoter of the Company | Remuneration upto ₹ 12,00,000/- per month | Past Remuneration: Remuneration upto ₹ 11,25,000/- per month
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Sub-division of Equity Shares of the Company and alteration of Capital Clause of Memorandum of Association (MOA) of the Company:
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Nature of Industry: The Company is engaged in the business of manufacturing and sales of progressive cavity pumps, twin screw pumps, spare parts of pump and retrofit spares and provision of maintenance & repair services and commissioning & installation services in Domestic and Overseas Market.
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The Company had embarked on a new project of Downhole Pumps and Mud Motors. A state-of-the-art Manufacturing facility has been setup and commercial production of Downhole Pumps has been commenced. As a part of this project existing Unit at Phase II Extension Noida to have an in-house facility for hard chrome plating and other critical activities for the said Downhole pumps and mud motors and existing products as well. Development of Mud Motors is in advance stage and is expected to commence.
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Company’s new wholly owned subsidiary Company established to carry on business of solar pumping systems has also commenced commercial production.
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Increased focus on existing operations coupled with commencement of new operations, would improve performance of the Company.
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Expected increase in productivity and profits in measurable terms: Subject to the unforeseen circumstances, in 2023-24, the Company expects to increase its productivity which would amount to more than 25% in sales turnover and profits. Thereafter, an annual growth of 20% in sales and corresponding increase in annual profits is expected.
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Our Mission: To achieve 100 million USD revenue by 2028. | FY23 Mission: Our Mission is to be among the first five global Positive Displacement Pump manufacturer by the year 2030.
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Domestic sales were ₹ 9,870.36 lakhs as compared to ₹ 6,502.52 lakhs having an increase of 51.79%. Export sales were ₹ 13,110.13 lakhs as compared to ₹ 12,563.08 lakhs, having an increase of 4.35% over last year. Export sales includes ₹ 7,209.13 lakhs, sales from Marketing Outlets in United Kingdom and Australia. Revenue from exports constitutes 54.99% of the total revenue from operations.
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Medium term growth would be led by new businesses of downhole pumps and solar pumping systems, which would substantially contribute to business growth. Downhole pumps are used for artificial lift and mud motors are used in directional drilling.
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Roto Energy Systems Ltd. - a wholly owned subsidiary was incorporated to carry on business of solar pumping systems. The Subsidiary is taking steps towards commencement of its business operations. During the year under review, the subsidiary has achieved sales turnover of ₹ 3.00 lakhs and incurred a loss of ₹ 140.66 lakhs.
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Roto Pumps Mena FZE – a wholly owned subsidiary (WOS) in UAE was setup to cater the MENA region. a company engaged in the business of sales and marketing of Company’s products in the MENA region. During the year, the subsidiary has achieved a sales turnover of AED 743,546 and incurred a loss of AED 449,017.
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Horses for the courses:
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Revenue Breakup:
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Contingent Liab:
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Market Risk: The Company operates internationally and a major portion of the business is transacted in several currencies. Consequently the company is exposed to foreign exchange risk through its sales and services in the US and elsewhere, and purchases from the overseas suppliers in various foreign currencies. The Company holds derivative financial instruments such as foreign exchange forward contract to mitigate the risk of changes in exchange rates on foreign currency exposure.
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Defined Benefit Plan Liabilities:
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Goose (WOS) that are yet to lay eggs (loss making as of now):
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Attrition:
Disc: Not Invested
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