Please find enclosed herewith Annual Report 2024 and Notice of 69th Annual General Meeting
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Elantas Beck India has filed its 69th AGM notice and Annual Report for FY2024 ahead of the AGM scheduled for April 30, 2025, to be held via video conferencing. Revenue from operations grew 10.09% to ₹74,851.31 lakhs, while profit after tax rose modestly by 1.26% to ₹13,908.91 lakhs; profit before tax was nearly flat at ₹18,345.03 lakhs. The Board has recommended a higher dividend of ₹7.50 per share (75%) versus ₹5.00 in the previous year, with a record date of April 23, 2025 and payment by May 29, 2025. Key business actions included acquiring Von Roll India's resin and tapes assets for ₹5,346 lakhs and purchasing 30 acres in Gujarat for ₹5,658 lakhs to set up a new manufacturing facility. Capital expenditure during the year aggregated ₹14,514.10 lakhs. Mr. Anurag Roy took over as Managing Director from February 1, 2025, replacing Mr. Srikumar Ramakrishnan.
Strong revenue growth and a 50% hike in dividend signal confidence in cash flows, though near-flat profit before tax suggests margin pressure from raw material costs. The Von Roll acquisition and new Gujarat plant point to capacity-led growth, which should be supportive of long-term shareholder value.