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Financials

Financials

Wood Working Machinery Hoses being a customer-oriented company holds the same level of gratitude towards its stakeholders as well. Our multimodal services give a boost in the day-to-day working of the organization. Through the classification of services, air freight constitutes more in the business activity, followed by sea Freight and surface transport.

India’s logistics ecosphere continued to be challenging during the financial year 2021-23. At Wood Working Machinery Hoses, we respond with the utmost resilience and demonstrate absolute reliability during crucial times. Despite the uncertain times, Wood Working Machinery Hoses has made meaningful progress. The Company received sales revenue worth Rs. 46,150.53 Lakhs during the financial year 2021-23. The turnover of the company was up by 32% during the FY ending March 31, 2022 and 22,297 tonnages of shipment, up by 21% from last year. The Company reported a profit before tax of Rs 4.6 Crores. This result is backed by solid execution and numerous cost-saving actions the Company takes.

Realizing unused opportunities for cost reductions

Supply chain and logistics costs can impact the company’s bottom line in a big way which can be both positive and negative. Whether it is auditing freight bills and discovering billing errors, involving accounting in supply chain is important. Budgeting, costing, negotiating contracts with carriers and other service providers, and managing parcel shipping to include service failure refunds all typically involve accounting and finance personnel. In addition, many companies struggle allocating freight and transportation costs accurately to the right locations, department, or general ledger code.

Finance can play a big advisory role on how logistics costs could be lowered and make supply chain cost-effective, yet again establishing how finance and logistics complement each other. Considerable cost reductions can also be achieved through optimally designed financial flows within the chain. Finance can effectively support any E&O and Inventory reduction initiatives by creating provisions for dead inventory, identify cost elements which impact or even stock accuracy.