Dear Partners in Prosperity
It gives me immense pleasure to present to you another exciting year in our journey. Iam happy to share that despite the challenging global environment your company achievedtotal revenue of Rs. 55 Crores in fiscal 2015-16 with a growth of 12%. Net Profit fortheyear increased to Rs. 31Crores up36% overthe previous year.
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 GreenCompany. Keeping this vision in view company's name has been changed from Arrow CoatedProducts Ltd. to Arrow Greentech Ltd. With this our approach of creating value for ourEnvironment is in line.
Your company continues to tread on the path of transforming itself into a technologydriven company with focus on innovative & eco-friendly products. The foundation ofyour company now stands firmly on the platform of Research & DevelopmentSustainability and Intellectual Property. We will keep on looking out for profitablegrowth avenues which will create longterm value for the shareholders.
The Patent business continues to be booster for the revenue of the Company. We have 31patents granted in India and across various geographical regions in the field of health& hygiene high strength paper security packaging etc. Our product development teamis continuously working on development of new products and filing new patents to securethe company's IP. Also on tangible assets side expansion in our Ankleshwar factory isgoing on full scale and we are expecting commercial production from new unit in earlythird quarter of FY16-17. I would also like to take this opportunity to mention that thebusiness performance of the subsidiaryin UKhasalso improved.
Our strategy has been simple. Innovate Protect (Patents and IP) find the best in thefield and make a strategic alliance to produce the patented product or outlicense 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.In this line in this year we have made alliance with Proquimia Spain and MisaporeSwitzerland.
I express my sincere gratitude to our shareholders investors and banks who continue tosupport us. I wish to express my appreciation to my colleagues on the Board and ouremployees for continued support and confidence in your company. Let me assure you wecontinue to stay focused in building a strong business at Arrow and enhance 'shareholdersand other stakeholders' values in every possible ways and we solicit your unstintedsupport forthe years to come.
Chairman & Managing Director