It gives me great pleasure to update you on the overall performance of your company.Inspite of a challenging external environment your company has shown net profits comparedto net loss in the previous year. This has been possible with the reinforcement of ourproduct mix improvising the existing products operational efficiencies softening ofcrude prices margin management and cost efficiencies. The net profit for financial year2015-16 has been Rs5.27crores at net sales of Rs 402.93 crores.
Your company's constant endeavor has been to retain the existing customers and tocreate new customer base by way of offering new quality products better benefits andadded advantages. At the same time we also understand that our future success depends ongetting ahead of the changes we see in business today. That's why our single biggestchallenge and opportunity is to accelerate growth which is profitable consistent andachieved in a responsible way.
During the year 2015-16 your company launched a number of new and innovative productswhich helped us maintain the growth trajectory. We had launched quite a few premium andluxury products in the interior as well as exterior paint category namely Signature -interior luxury emulsion Superlac Stay Clean - interior premium acrylic emulsion andWeather Pro+ an exterior super premium acrylic emulsion. Besides launching new productsyour company also changed the packaging and design of most of the existing products. Yourcompany has an extensive product range comprising of Emulsions Enamels Distempers Woodfinishes Cement Paints Aluminum paints and Floor Coatings.
Demand forthe industrial products serviced through your company saw improvementoverthe previous year. In the industrial segment your company had launched quite a fewnew products namely Single Pack DT- Primer cum Topcoat Low Cost Zinc Silicate forProjects High Build Quick Drying Coal Tar Epoxy Solvent less Epoxy Costing For PipeIndustries Quick drying Single pack Paint for Cylinder Industries Blackand Clear BitumenVarnish and Stoving Paint for Hair Clip.
During the year 2015-16 your company was on air and appeared on Red FM and BigFMacross 100 cities in India to enhance its brand equity. You will be glad to know that ourradio advertisement won the prestigious Abby Award 2016 for creative excellence. Duringthe year your company also concentrated a lot on innovation and our R&D team workedconstantly to develop new products. Automation is the mantra of new age and your companyhas shown lot of advancement in automating the processes. The automated tool for the saleforce is a mobile application which proves very handy on the go. Our Mobile technology wonthe Business Technology Award (from Cyber media Dataquestjfor its Mobility Project.
Being a paints company health and safety product stewardship and responsibility areother key areas that are intrinsic to us. We have enhanced our reputation as a responsibleand caring company offering consumerfriendly products.
In the end I would like to thank each one of our employees whose commitment and hardword helped deliver a successful year. I would also like to thankall our shareholdersfortheir continued support in ourjourney to deliver value.
Managing Director &CEO