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Sky Industries Ltd.

BSE: 526479 Sector: Industrials
NSE: N.A. ISIN Code: INE765B01018
BSE 00:00 | 18 May 43.50 1.45
(3.45%)
OPEN

47.95

HIGH

47.95

LOW

43.50

NSE 05:30 | 01 Jan Sky Industries Ltd
OPEN 47.95
PREVIOUS CLOSE 42.05
VOLUME 2080
52-Week high 70.00
52-Week low 35.50
P/E 7.02
Mkt Cap.(Rs cr) 19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 47.95
CLOSE 42.05
VOLUME 2080
52-Week high 70.00
52-Week low 35.50
P/E 7.02
Mkt Cap.(Rs cr) 19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sky Industries Ltd. (SKYINDS) - Chairman Speech

Company chairman speech

SKY INDUSTRIES LIMITED ANNUAL REPORT 2000-2001 CHAIRMAN'S REPORT Dear Friends, The year has seen cataclysmic changes in the business environment. In this seemingly turbulent phase we have continued to serve consistently our customers with increased dedication and they have motivated us with continued support and patronage. We are better placed now than ever before of achieving our goals and targets. We continue to maintain our leadership in our segments. We are better focused and better organized to achieve our goal of being the foremost manufacturer of narrow fabrics in the world. Our singular focus of differentiating ourselves on the quality and performance of our products has been the key to our success in the past and we are oriented of becoming the benchmark in performance. The textiles sector is the largest sector of the economy & is also the most protected. It adds about 14% to industrial production & 4% to GDP directly employing over 350 lakhs people. It is a self reliant industry having a fully developed value chain. In the future India is committed towards lowering of customs tariffs as a signatory of the WTO. This will result in surge in imports of products from East Asian countries like China, Korea etc. Today the customer is better placed than before owing to greater competition & choice and is definitely seeking better value through tangible & intangible forms. To compete in the market our trade needs to create greater value, build networks, focus on core competencies etc. In this age factors like better quality & lower costs are taken for granted. Market dominance for along time in today's context requires establishing brand loyalty & capturing market share, which acts as deterrent for the competitors to catch up. To compete we need to accelerate & streamline the process of designing, developing & introducing value added products. Given the unpredictability of business environment the pressure to respond to change is immense. Human resource is viewed as an asset by the MNCs but we view it as a disadvantage but it is a pity that the same criteria are viewed by the MNC's as an asset. More and more international firms are queuing up to tap this potential where as we are still harping on reservations and protections instead of taking them head long. With better production technologies and manufacturing process it is the time is ripe for our trade to shift from unorganised activities to developing brand and quality where the economies of scale will be to our advantage. The day has come for the narrow fabric industry to claim it's rightful place as a super export promoter challenging other sectors like I.T, entertainment, agriculture etc. The international market witnessed unprecedented price competition that had its impact. In the face of this it has not been easy to implement our strategy and maintain our course. It is a matter of delight that despite these difficulties, we continued to register leading market shares exporting all over the world. Many of the initiatives in earlier years of increasing capacities, streamlining processes and effecting control on costs have been responsible for this. The market is passing through a major phase of metamorphosis and as in the past we have been responsible for leading the change by introducing new product categories for various customer segments. The activities we have now set into motion will help us to emerge fitter and stronger in all areas of our business and better placed to meet our customer's requirements. Our ERP initiative currently underway promises to enhance organizational efficiency and effectiveness. In addition we are overhauling our entire service approach to exceed our customers growing expectations. The organization has been further strengthened with induction of fresh talent. We are also introducing new value products to further stimulate growth and consumption. I believe all of this would go towards making us a truly performance driven, customer oriented organization ready to take on any challenge. We have made the right moves in the right direction and the best of us is yet to come. Thank you for seeing the future the way we do and for your support. NITIN MOTANI CHAIRMAN