Auto Parts & Equipment firm Rajratan Global Wire Announced Q1FY23 Result :

• Average Capacity utilisation stood at 85%.
  • Digitisation of manufacturing process with introduction of machine data loggers implemented across all production departments.
  • Zero Liquid discharge facility fully installed and operational at India manufacturing unit.
  • New patenting furnace installed for 2500 MT, now operational thereby debottlenecking for incremental capacity utilisation.
  • Improved our on-time dispatch rate to 92%.
  • Customer complaints continued to be at record low levels of 0.016%.
  • Capacity expansion update (Chennai – Greenfield – 60,000 TPA):
• All approvals received from Govt of Tamil Nadu as per targeted schedule.
  • 1st milestone of construction work completed as per schedule with 99% adherence to schedule.
  • Foundation stone laid on 4th July 2022 by Hon’ble CM of Tamil Nadu.

Commenting on the performance, Mr. Sunil Chordia, CMD, Rajratan Global Wire Ltd said “We have continued from where we left off in FY2022 and have continued to focus on outperforming on previous benchmarks across all our production, sales, productivity, customer service and performance metrices. 3 key levers namely our recent debottlenecking at our Pithampur plant, our Thailand plant expansion and our upcoming Greenfield capacity at Chennai will also help us to grow at our targeted 20-25% CAGR (in volume terms) over the next 3 to 5 years. We have also taken up digitisation efforts at our Pithampur (India) plant, which will also be replicated for our upcoming Chennai plant, this will help our production processes and systems become more efficient and smarter. Our rejection rates have continued to be below 0.02% in India which showcases our commitment to quality. Overall our entire team at Rajratan is geared up to “Outperform” on what we have already achieved”

Result PDF