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Bhandari Hosiery Exports Ltd.

BSE: 512608 Sector: Industrials
NSE: N.A. ISIN Code: INE474E01029
BSE LIVE 15:26 | 08 Dec 1.94 0.02
(1.04%)
OPEN

1.95

HIGH

2.04

LOW

1.92

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.95
PREVIOUS CLOSE 1.92
VOLUME 306847
52-Week high 6.25
52-Week low 1.85
P/E 11.41
Mkt Cap.(Rs cr) 28.42
Buy Price 1.92
Buy Qty 20010.00
Sell Price 1.94
Sell Qty 8860.00
OPEN 1.95
CLOSE 1.92
VOLUME 306847
52-Week high 6.25
52-Week low 1.85
P/E 11.41
Mkt Cap.(Rs cr) 28.42
Buy Price 1.92
Buy Qty 20010.00
Sell Price 1.94
Sell Qty 8860.00

Bhandari Hosiery Exports Ltd. (BHANDARIHOSIERY) - Chairman Speech

Company chairman speech

Dear Shareholders

Look at the sky. We are not alone. The whole universe is friendly to us and conspiresonly to give the best to those who dream and work" This is the famous quote from Dr.APJ Kalam. Before proceeding to this years notes I would like to bid farewell to Dr. APJKalam and take inspiration from his lifetime.

I have great pleasure in presenting the Twenty Second Annual Report and AuditedFinancial Statements for the financial year ended 31st March 2015. The year 2014-15 hadbeen a year of greater global volatility and uncertainty. The decline in oil pricesadjustments in exchange rate quantitative easing program of ECB concerns over Greecegeo political tension in Middle east etc. as well as concern over economic and politicalfuture of Euro area and European Union are some of the factors which were at play. Theglobal growth in 2014 was lower than initially expected and picked up only marginally in2014 to 2.6% from 2.5% in 2013. The global economy is struggling to gain momentum asmany high income countries continue to grapple with legacies of the global financialcrisis while emerging economies are less dynamic than in the past. World GDP is expectedto grow by 3% in 2015 and 3.3% in 2016.

As regards Indian economy after years of diminutive growth the reform momentum haspicked up in India.The Indian economy grew at 7.3 per cent in 2014-15 due to improvementin the performance of both services as well as manufacturing sectors.

As the Indian Government too has over the last few months taken some action to reviveindustrial growth encourage fresh investment and committed to reforms for industry oureconomy in the coming years should regain a trajectory of high growth. Despite challengingglobal and Indian scenario your Company recorded a very good performance in terms ofincreased turnover as well as increased profitability. During the year 2014-15 yourCompany was able to achieve turnover of Rs. 12496.50 Lacs as against Rs. 11153.09 Lacsin the previous year showing an increase of 12.05% over the previous year.

The Profits after Tax of the Company for the year ended 31.03.2015 has been Rs. 219.11Lacs as against Rs. 197.67 Lacs in the previous year showing an increase of 10.85% overthe previous. The Exports of the Company for the financial year ended 31.03.2015 were tothe tune of Rs. 1390.49 Lacs as against Rs. 1714.67 Lacs in the previous year.

During the year 2014-15 the Company came up with and completed its modernization andexpansion of dyeing and fabric division by setting up new Boiler imported dyeingMachines imported stenter and open width compacter Weft Straightener water softeningplant DM Plant Thermic Fluid Boiler and other fabric division machines and utilities.The company is planning to set up Active wear fabric line which will cater to the needs ofgrowing demand for sportswear swimwear yoga wear etc. The fabric line will be one of itskind in the country. It will further boost both the bottom and top line of the company.

Alongwith the impressive strides in business we are eagerly working towards playing acommitted role in the area of Corporate Social Responsibility. We proudly state that yourCompany is a W.R.A.P B.S.C.I and C-TPAT Certified Company .

Our success and growth greatly depends on the skills and dedication of our employeesco-operation of our Bankers and other business constituents whom I would like to thanksincerely . I am looking forward to another exciting year ahead.

Finally I take this opportunity to thank all the Company's stakeholders for theirconfidence in Bhandari Hosiery and I look forward for their continued support in the yearsto come.

We would like to thank our Bankers State Bank of India.

Warm Regards

Sd/-

NITIN BHANDARI

CHAIRMAN & MG. DIRECTOR

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