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Pix Transmission Annual Report 2023 Summary

Updated: Oct 1, 2023

  • Despite global challenges, PIX achieved a new sales record in the previous year, with growth primarily driven by the domestic market.

  • The completion of capital expenditure within the designated timeline has resulted in increased capacity and improved operational efficiency.

  • While the company remains optimistic about the future, it acknowledges challenges such as stagnant demand, elevated inflationary pressures etc.

  • Pix posted its highest ever turnover in FY 2022-23 with a record fourth quarter performance. This was in spite of the global headwinds that plagued most industries and economies throughout the course of the year.

  • After witnessing unabated demand for our products in key export markets in the preceding two financial years, there was some normalization seen in FY ’23. However, it was compensated by robust demand from the domestic market, which exhibited double digit growth.

  • There was some cooling off in the prices of key raw material as well as freight which eased the pressure on margins, but due to the rate increases imposed by the Central Bank there was an uptick in the borrowing costs of the Company.

  • The Company has State of the Art facilities & rich experienced, multi skilled subject matter experts capable for validating and verifying the entire product range of Belts and Allied Products that the organization has in its range and proposes to innovate.

  • During the year under review company has completed the following capex projects : 1. Centralized Logistic Hub 2. MIDC Plant Expansion 3. TRP Plant Expansion 4. Mixing Plant – 2nd Floor extension



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