Mr. Ramanand Agrawal is Chairman of Mahamaya Steel Industries Limited. He belongs to a business family having their Origin from Lahore now in Pakistan. He is dynamic, hard working and general as person with 35 year vast experience in steel industries.
During his recent meeting he said that' I am happy to report that inspite of global economic slowdown your company has not only improved it's performance by registering 11.51% growth in the sales but also have increased EBIDT margin by 29.01% during the year. However due to higher capex of around Rs. 65 crores financial cost and depreciation have increased during the year. Further, higher provision of deferred tax has impacted on net profit but the company was able to maintain profit before tax at the same level.
The sale of the company has increased from 417.53 crores to Rs. 425.50 crores during the year. EBIDT has increased from 22.29 crores to Rs. 28.01 crores.
As you are aware that the company's products are marketed under the name of "Mahamaya Steel Industries " and therefore in order to take benefit of the goodwill of the name, the company has changed its name from "Rajesh Strips Limited" to " Mahamaya Steel Industries Limited".
Mr. Rajesh Agrawal is commerce graduate having experience of more than 17 year in steel manufacturing. From the date is taken over as the Managing Director, the company has made remarkable progress in all the spheres and he is optimistic on future progress as well.
The company has expanded its product facilities in Heavy Structural Mill and the entier capex has been funded internally i.e. by allotment of 8% Redeemable Non Convertible non cumulative perference share of Rs. 10/- each for Rs. 22 crores.