It gives me immense pleasure to write to you.
Post the completion of the takeover in December 2015 your Company (under a newmanagement) has been growing exponentially for a third straight financial year. From ascenario of "No Operations" in the company prior to takeover to achieving aturnover of more than 130 Crores during FY 2018-19 this is a testimony towards thecommitment and relentless efforts from the employees and the management of the company.After three years of exceptional performance the numbers stack up as follows:
(Rs. in Crores except Book Value)
|Particulars ||FY 2016-17 ||FY 2017-18 ||FY 2018-19 |
|Total Income ||62.83 ||69.72 ||131.40 |
|Profit after tax ||0.17 ||0.17 ||1.41 |
|EPS ||0.08 ||0.12 ||1.01 |
|Net worth ||14.62 ||14.79 ||16.21 |
|Book Value (Per Share) ||10.48 ||10.61 ||11.62 |
Simultaneously the company has achieved several milestones during these years:
Company was admitted for trading in its Equity Shares on the Metropolitan StockExchange of India Limited (MSEI) on January 8 2016.
Seven Bonus Shares for every share held on March 4 2016.
Recorded (for the first time) turnover in excess of Rs. 50 Crores during FY 201617.
Recorded (for the first time) turnover in excess of Rs. 100 Crores during FY2018 19.
Acquired Abans Jewels Private Limited a Company having principal business oftrading in gold silver and precious metals and sale of jewellery on May 29 2019.
We continue to focus on the trading business and by incorporating our wholly ownedsubsidiary named "Tout Comtrade Private Limited" on April 04 2019 andacquisition of 100% equity stake in "Abans Jewels Private Limited" on May 292019 are in line with the management's strategy to create value for all the stakeholdersof the Company and continue to deliver exceptional operational performance and buildsustainable business. Alongside our continuous focus on operational performance we alsocontinue to be committed towards building a healthy work environment for our employeesadhering to corporate governance standards in entirety and building internal systems thatsupport transparency and ethical business conduct and operations.
In line with our group's core philosophy of embracing newer and latest technologiesthe Company will continue to invest in cutting-edge technologies to improve the quality ofits internal processes. I would like to assure you all that the Company is well poised toleverage on the strength of its key management team to continuously achieve all-roundefficiency in all its areas of operations.
I am grateful to the Board of Directors and the senior management team for theirunwavering support and guidance. I take this opportunity to express my gratitude to allour stakeholders who have reposed their trust and faith in us and their constant support.I sincerely place on record my word of thanks to you for your continued patronage.
Chairman and Managing Director
August 13 2019