Maximus reported 32% growth in revenue and net income in FY22

Bombay (Maharashtra) [India], June 11 (ANI/PNN): Consolidating its business and effectively managing margins in the era of Covid has enabled one of East and Middle Africa’s leading manufacturers of finest lubricants East, Maximus International Limited (MIL) to achieve total revenue of Rs 70.42 Crore on a consolidated basis for the year ended 31 March 2022 (FY22) compared to Rs 53.12 crore for the prior year ended March 31, 2021 (FY21), recording growth of 32.6%. It recorded a net profit of Rs 4.66 Crore on a consolidated basis in FY22, 32% higher than the consolidated net profit of Rs 3.53 Crore for FY21. MIL is pleased to noting his strategies for effectively managing business, margins, competition, etc., have served him well. Every vulnerable situation, be it supply chain disruption, price competitiveness or reduced market demand, etc., has been handled through careful and diligent strategies , aided by impeccable execution of these by its teams in India, the United Arab Emirates and Kenya. “These uncertainties/challenges encountered have been turned into opportunities that have led to effective macro/micro supply chain management, strong and practical credit management and deeper customer/distributor engagement. We have a vision long term of growing our business globally – our foray into Africa fits into this strategy. As the aftermath of Covid-19 fades, we are well prepared for exponential growth over the next few years. said Deepak Raval, Managing Director of Maximus International Limited.

“The company now plans to consolidate its operations and enter new markets in Asia and Africa. The company is confident that it can sustain the continued growth it has enjoyed for the past 5 years by expanding its footprint on the African continent.” , said Milind Joshi, chief financial officer (CFO) of Maximus International Limited. With its manufacturing facilities as well as a strong market presence in the UAE and Kenya, they cater to over 400 customers across 25 countries.

MIL is confident that it can sustain the continued growth it has had for the past 5 years by expanding its footprint on the African continent. This story is provided by PNN. ANI will not be responsible for the content of this article. (ANI/PNN)

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