Dear Partners in Prosperity
It is with a great deal of satisfaction and pride that we Look back at the year goneby ending March 2017. We continued to do what we do best: deliver innovative andenvironmental- friendly so?tions to our customers and to drive the performance of yourCompany while ensuring a focus on sustainability. We demonstrated resilience and strengthto withstand a difficult economic environment? am happy to share that despite thechallenging global environment your company achieved Total Revenue of Rs. 56 Crores infiscal 2016-17 with a growth of 1.6%. Net Profit for the year increased to Rs. 3? Croresup 7_9% over the previous yea?.
This performance could not have been achieved without single minded focus on Productdevelopment and marketing and perseverance in operational efficiency. The company hastaken many strategic initiatives in the last year to achieve its vision of being a GreenCompany. This aspiration ignites our creativity energizes our growth enables us todeliver to our customers and ultimately generates value for our shareholders.
Your company continues to tread on the path of transformational journey growth. Theseed for strong growth requires development of organizational capability. The Company hascontinued to make meaningful investments in people processes and Research &Development Intellectual Property and Technology. These are long term investments for thefuture. We will keep on looking out for profitable growth avenues which will create longterm value for the shareholders.
The Patent business continues to be the foundation of the Company. We have 32 patentsgranted in India and across various geographical regions in the field of health &hygiene high strength paper security packaging etc. Our product development team iscontinuously working on the development of new products and filing new patents to securethe Company's IP. Also on tangible assets side we undertook a brownfield expansion in ourAnkLeshwar factory the new plant was commissioned on 26th March 2017. With thisexpansion we increased our Water Soluble Film capacity to 3 times the existing capacity.
Our strategy has been simple. Innovate Protect (Patents and IPl. find the best in thefield and make a strategic aUiance to produce the patented product or out license ourtechnology. The focus will always be on Environment friendly technologies and we Look forLike-minded partners having expertise in their field and who can add value to our targets.
I express my sincere gratitude to our shareholders investors and banks who continue tosupport us. I feel proud in acknowledging the contribution of every single member of teamfor having faith in the Company and delivering the best. Lastly let me assure you thatthe best is yet to come for the Company which will enhance shareholders and otherstakeholder's values in every possible ways. Again I would like to acknowledge thecontinued support and co-operation from all of you which has helped the company to sustainits growth even during these challenging times.
Chairman & Managing Director