In Q4FY23, the company’s net sale surged by over 23 per cent from last year’s same quarter to ₹67.51 crore while the net profit dipped by more than 17 per cent from corresponding quarter last year. What were the contributing factors to the company’s performance?
Rossell Techsys operates in a highly competitive global environment, with increasing price sensitivity and more sourcing options in various geographies and countries. The company is cognizant of this situation. The company has a clear objective of growing its customer base and I am happy to state that our customer base has increased by over 60% over the prior year. The increase is not just in customers but also in different geographies like Germany, Sweden, Belgium, France, and Israel.
In order to do that, the strategy of the company is to be disruptive on price, via a risk-reward sharing model, to make an entry and gain the opportunity to offer its winning unique value proposition. The company believes that the opportunity is ripe as large size OEMs are focussing on lowering cost of the endproduct, for them to be globally competitive and affordable for more countries. The company shall continue to adopt this strategy to increase customer and geographic spread.
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