Key Highlights

The company today has vast product portfolio and diversified markets and is not dependent on a particular product or geography. End-users include fishing net makers and trawlers, shipping companies, oil drillers, agriculturists, packers, transporters, construction companies, municipal corporations, government organizations, clubs, universities, manufacturing plants and many others.

In FY 17, domestically, the company grew in single digits, while internationally; the company grew by strong 22% YoY.

Globally, the company further penetrated in markets of Canada and Scotland and added Norway as new market. The company has dominant market share in North America and some EU markets.

Expects the margins of FY 17 to sustain in FY 18. Rupee benefits can lead to some increase in margins.

New products in fisheries led to higher realisation and bottom line in FY 17. Expects more volumes from this segment in FY 18.

Company has strong brand in global aquaculture market. Company is a pioneer for new products and outplays competition.

GST had some impact of around 15 days in domestic operation but then was normalised.

Normal monsoon should help the agricultural business in FY 18.

Exports now account for around 47% of totals sales, as compared to around 25%, 4 years back.

The several new products launched in Aquaculture industry was received well in the market particularly in exports. The segment will continue to do well for next 2-3 years.

On geosynthetis and defence side, things are going slow. Infrastructure activities are yet to pick up. However, given the low base, this segment should also see some growth in FY 18.

The company has sufficient capacities and latest technology to meet the growing demand going forward. It generally spends around Rs 5-8 crore on R&D front every year.

FY 18 will be a base year on which future growth will be laid. GST transition, pick up of defence, aerostats, infrastructure and agri business are the things to be watched in domestic market. FY 18 should see a strong foundation of all these key businesses. Globally, new products and new markets should continue to help higher growth.

Going forward, post FY 18 expects domestic segment also to participate strongly in the growth momentum and exports should hover around 50% of sales.