Company now has fifty-eight (58) blow molding and injection molding machines with an aggregate installed capacity of 22,857 MTPA. (Acquired "Shree RubberPlast" in 2017.)
We have recently seen a spike in import substitute products considering supply chain issues and high freight prices. This may not sustain once these issues are resolved.
In Fiscals 2022, 2021 and 2020, our top 50 customers represented 57.01%, 57.60% and 59.76%, respectively, of our total revenues from operations in such periods. While our top 10 customers represented 25.35%, 26.37% and 30.37%, of our total revenues from operations in Fiscal 2022, 2021 and Fiscal 2020, respectively.
Polymer including polypropylene and polyethylene is our primary raw material consumed by us and constitutes a significant percentage of our Company’s total expenses. Polymer is a derivative of crude oil and any substantial increase in price of crude oil or decrease in the supply of polymer could materially adversely affect our Company’s business.
- Our cost of raw materials consumed constitutes the largest component of our cost structure. For the Fiscals 2022, 2021 and 2020, our cost of raw materials consumed amounted to ₹ 15,253.74 lakhs, ₹ 9,526.26 lakhs and ₹ 7,295.15 lakhs, respectively, which represented 58.93%, 53.09% and 52.53%, respectively of our total income.
We currently source most of our key raw materials from domestic vendors viz OMCs. We usually do not enter into long-term supply contracts with any of our raw material suppliers and typically source raw materials under contracts of shorter periods. As we continue to grow our product portfolio and increase our production capacities, we would need to procure additional volumes of raw materials.
The working capital requirement for Financial Year 2023 is estimated at ₹ 15,666.81 lakhs. An amount of ₹ 8,000.00 lakhs towards working capital requirements will be funded out of the Issue Proceeds, whereas the balance, if any, would be arranged from our internal accruals and/or loan funds.
We have three (3) manufacturing units out of which our Unit I and Unit II are situated in Maharashtra at Tarapur MIDC and Unit III is situated at Khalapur. Our Unit I and Unit II are situated in the industrial belt of Boisar which is a manufacturing hub for various industries like chemicals, agrochemicals, pharmaceuticals, lubricants, food, edible oil, etc. Our Unit III is situated between Mumbai and Pune at Khapoli near the Mumbai-Pune Expressway and enables our Company to supply our products to the industrial zones in this region like TTC Industrial Area, Turbhe, Mahape, Taloja and Pune.
We have applied for registration of a patent for head and foot bows for hospital bed with inbuilt cardiopulmonary resuscitation board (CPR) profile, which is pending with the Controller of Patent. We have also registered four (4) designs for hospital bed parts for head bow and foot bow, side railings, head bow with a CPR board.
The utilized capacity for our manufacturing units for the FY 2022, 2021 and 2020 was 63.97%, 56.03% and 49.61%, respectively
