You are here » Home » Companies » Company Overview » Bhandari Hosiery Exports Ltd

Bhandari Hosiery Exports Ltd.

BSE: 512608 Sector: Industrials
NSE: BHANDARI ISIN Code: INE474E01029
BSE LIVE 15:28 | 23 Nov 4.29 -0.21
(-4.67%)
OPEN

4.72

HIGH

4.72

LOW

4.28

NSE 15:08 | 23 Nov 4.35 -0.20
(-4.40%)
OPEN

4.70

HIGH

4.70

LOW

4.35

OPEN 4.72
PREVIOUS CLOSE 4.50
VOLUME 167122
52-Week high 6.08
52-Week low 1.72
P/E 18.65
Mkt Cap.(Rs cr) 63
Buy Price 4.29
Buy Qty 4411.00
Sell Price 4.42
Sell Qty 24.00
OPEN 4.72
CLOSE 4.50
VOLUME 167122
52-Week high 6.08
52-Week low 1.72
P/E 18.65
Mkt Cap.(Rs cr) 63
Buy Price 4.29
Buy Qty 4411.00
Sell Price 4.42
Sell Qty 24.00

Bhandari Hosiery Exports Ltd. (BHANDARI) - Chairman Speech

Company chairman speech

Dear Shareholders

I have great pleasure in presenting the Twenty Fourth Annual Report and AuditedFinancial Statements for the financial year ended 31st March 2017. Year2016-17 has been a very interesting year. The U.S. Presidential election and its impact onglobalization grabbed political headlines. In India demonetization was an unexpectedshock to an economy preparing for arrival of the biggest tax reform since independence.

In terms of business the US consumer market continued to remain steady with soaringhousing prices and low interest rates. EU has been grappling with multiple years ofslowdown. The Chinese economy also has clearly cooled down. Apparel exports from Indiaremained flat although overall textiles exports from India fell during the year onaccount lower yarn and fabric exports. India textile exports have fallen by 5% in FY16-17also due to fall in cotton textile. While the medium term outlook for Indian textileremains strong there are many near term challenges that can impact the growth of thesector. Despite the impact of demonetization in parts of Q3 and Q4 the domestic marketgrew by about 10% during the year. It is expected that in the current year Implementationof GST will bring few fundamental shifts in the textile and apparel market.

The Indian textile industry market share presently is USD 120 billion and is expectedto reach US$ 230 billion by 2020. The apparel market in India is estimated to grow at aCompound Annual Growth Rate (CAGR) of 11.8 per cent to reach US$ 180 billion by 2025. TheGovernment and industry and is taking all steps to promote textile exports which is theneed of the hour. The Indian economy grew at 7.1 per cent in 2016-17 and seemed to haveaffected by demonetization and other factors.

Despite challenging global and Indian scenario the Company recorded a very goodperformance in terms of increased turnover as well as increased profitability. YourCompany recorded a very good performance in terms of increased turnover as well asincreased profitability. During the year 2016-17 your Company was able to achieveturnover of Rs. 21381.21 Lacs as against Rs. 19868.75 Lacs in the previous year showingan increase of 7.61 over the previous year. The Profits after Tax of the Company for theyear ended 31.03.2017 has been Rs.420.37 Lacs as against Rs. 406.81 Lacs in the previousyear showing an increase of 3.33% over the previous year. The Exports of the Company forthe financial year ended 31st March 2017 were to the tune of Rs. 1282.34 lacsas against Rs. 798.76 Lacs in the previous year showing an increase of 60% over theprevious year

During the year under review the Company undertook its second phase of expansion indyeing and fabric processing unit by installing imported high technology fabric dyeingmachines fabric stenter circular knitting machines automatic colour mixing anddispenser machine collar knitting machines high power brushing machines and heatrecovery unit. The Company also undertook implementation of RO/ZLD Plant with a view tosave water and make industry more environment friendly.

The Company is planning further to widen its markets both at domestic levels and atinternational levels. The long term prospects of the company are good along the growthpath.

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.

Warm Regards Sd/- NITIN BHANDARI

CHAIRMAN & MG. DIRECTOR