I am happy to share with you one more impressive year of all round performance. In FY 2016-17, the net receipts from Operations were Rs. 1774 Lakhs as against Rs. 1529.11 Lakhs in the previous year.
The Company posted profit after tax of 10.23 Lakhs down by 19.83% from the last financial year. This decrease in profit is caused due to higher tax and higher depreciation during the year. The Company continued its focus on growing its business faster than market while protecting product quality & profitability. I am sure you will all join me in complimenting the management team and the staff of the company for the good results.
As always, we have continued to maintain the standards of good Corporate Governance. We would also continue to work in a transparent and professional manner to create value for our Stakeholders. At Vinayak Polycon, We will continue to focus on strengthening our core competencies by laying emphasis on technological up–gradation, advancement in design and innovation. Our aim is to acquire cost effectiveness, technical competence, understanding the evolving needs of customers and timely delivery the best quality products.
Bhanwar Lal Baid