MANAGING DIRECTOR CORNER
TO OUR SHAREHOLDERS
I feel honoured to present the First Annual Report as being a Listed Company. It hasbeen a year with many rewarding moments as well as some challenges. Though a year oftransition we made solid and tremendous progress on many fronts including building outstrategic platforms while establishing exciting new ones.
It gives me a great pleasure to announce that M/s Jet Knitwears Ltd is the FirstCompany in the state of Uttar Pradesh to be listed under the NSE Emerge (SME platform) ofNational Stock Exchange on the 7th of October 2016. Our IPO was oversubscribedby 3.76 times which in itself is a landmark for a SME listed company.
With its humble beginnings 50 years ago Jet Knitwears Ltd has won National Accoladeson various fronts such as Research & Development Quality Products andEntrepreneurship along with the most coveted First Prize in the Quality Undergarmentscategory by the President of India in 2013.
We have also been honoured across International borders with Quality products in GoldCategory from BID Spain and counted as Top 500 brands in Asia.
Owing to the above recognition Jet Knitwears Ltd has been inducted into Limca Book ofRecords 2011 for receiving most number of National Awards in our MSME sector in India. Itis also noticeable that Jet Knitwears Ltd is the only company in India to be awarded withso many accolades. www.jetlycot.com
With a strong network of more 5000 Retailers and round about 1000 Dealers which arebeing served directly by the company has shown so much faith during the subscriptionprocess.
Before being listed our major business operation was in the state of Uttar Pradesh& Uttarakhand only but post IPO we have expanded our sales/marketing activities inBihar by opening our retail depot at Patna. The company has a vision of being a PAN Indiabrand as more and more states will be added for expanding our business operationsthroughout India.
The legacy of working in a 50 year old organisation is based on the following goodpractice
Faith in work
Continuous improvements in the manufacturing process
Best product at reasonable price.
Post IPO we have adopted one more good practice to the above list which is
Satisfaction of investor/shareholders of the company and we areworking on it. Our Directors Executives Managers hardworking employees labours work asa team to achieve the above mentioned goals with a backing of 40 years old Brand name andthe customer has full faith in our product of our team manufactures.
We have introduced Lycot Australia Brand 10 Years ago for the upmarket segment which isdoing very well in the market.
It is indeed a mark able landmark that the company has shown 91.55% growth in its Netprofit in the financial year 2016-2017 as compared to the previous financial year2015-2016 in which the Net profit growth was 3.17% therefore on behalf of my teammembers We will also strive to capitalize on available opportunities in the financialmarkets and attain new horizons. I assure all my shareholders and stakeholders who haveshown faith in our company that we shall leave no stone unturned to keep producingoutstanding results year after year.
On behalf of the Board of Directors I would like to thank all our customers dealersdistributors shareholders and other business associates for their continued support. Isincerely thank all our employees for their outstanding effort and commitment. I wouldlike to take this opportunity to thank my colleagues on the Board for their mature counsel
We will always strive to work towards our company principles which are: Faith in workcontinuous improvement in the Manufacturing Process by providing the best product atreasonable price customer and investors Satisfaction and setting new standards ofexcellence
We will aim to be one of the leading and foremost manufacturers of Hosieryundergarments & casual wears while expanding our business operation across variousstates and eventually Pan India. In the future we would also like to cross internationalborders by making a presence in our own Brand name.