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Advance Syntex Ltd.

BSE: 539982 Sector: Industrials
NSE: N.A. ISIN Code: INE184U01012
BSE 00:00 | 19 Feb 10.50 -0.55
(-4.98%)
OPEN

10.50

HIGH

11.10

LOW

10.50

NSE 05:30 | 01 Jan Advance Syntex Ltd
OPEN 10.50
PREVIOUS CLOSE 11.05
VOLUME 2985
52-Week high 30.00
52-Week low 10.50
P/E 5.50
Mkt Cap.(Rs cr) 12
Buy Price 10.50
Buy Qty 109.00
Sell Price 10.50
Sell Qty 559.00
OPEN 10.50
CLOSE 11.05
VOLUME 2985
52-Week high 30.00
52-Week low 10.50
P/E 5.50
Mkt Cap.(Rs cr) 12
Buy Price 10.50
Buy Qty 109.00
Sell Price 10.50
Sell Qty 559.00

Advance Syntex Ltd. (ADVANCESYNTEX) - Chairman Speech

Company chairman speech

Message from Managing Director:

Dear Shareholders

I am delighted to share with you the events and developments of your Company during thecourse of the financial year 2017-18. The overall performance of your Company haswitnessed a healthy growth in profits. The financial year 2017-18 was also very noteworthyfrom Company specific perspective as during this year Company initiated the process ofPreferential Issue of approx. Rs. 5 crore. I would like to place on record my heartfeltthanks to all the investors for showing trust and confidence in the Company and itsmanagement.

Though the year gone by has witnessed heavy fluctuations in the economic scenario withthe introduction of GST in the Indian Economic system your Company’s performanceimproved marginally in terms of total revenue as well as profit after tax registeringcontinuous growth by 30.47% and 68% respectively. Your company has also seen rise in theexports thereby increasing the scope of business in the international markets as well.

Your Company has taken a challenge to achieve a new milestone in terms of production.For achieving this milestone a constant and gradual expansion is planned in phases.Another Vacuum Metalizing Plant is added at POR GIDC of the same Specification andmanufacturer supplier M/S Bobbst Ltd UK. Expanding this plant lead to increase capacityof 200 MT per month thereby increasing the gross capacity to 500 MT per month. Thisaddition will contribute to increase in revenue nearly by Rs. 2.50 Crores per month andannual increase upto Rs. 30 Crores at the current rates.

Our march towards new heights of success did not stop. The production of small packagesfor supplying to the retail markets of USA has started and dispatches have commenced fromApril 2018. The Factory Premises for small packaging has been approved by SGS SMETAAudit. Negotiations are in process with three to four large retail chain stores in USA aswell as India.

Your Company has been honored with many prestigious awards during the year.

? In the Month of July – 2017 the Managing Director has also been honored with"BEST ENTREPRENEUR" award by Franchisee India.

? On 17th November 2017 your company was selected as "Dun & Bradstreet– RBL Bank SME Business Excellence Awards 2017" Award Winner in the SMEsegment for Excellence in the Textiles sector.

? Your Company has been selected as one of the Top performing MSME unit by India SMEForum one of the three national MSME organisations in the Advisory Committee of theMinistry of MSME of Government of India in Association with AXIS Bank and is awarded "INDIASME 100 AWARDS". The company received the award in the presence of ChiefGuests Shri. Giriraj Singh Hon’ble Minister of State for MSME Govt. of India &Shri. Kalraj Mishra Chairperson Joint Committee on Offices of Profit for Scoring in theTOP 100 on the basis of overall evaluation of financial & Non-Financial Parametersamongst 33102 nominations.

The journey ahead is full of opportunities as well as challenges and your Company isopen to grab the opportunity in the best interest of your Company and to face all thechallenges emanating from the market.

To conclude we had a good year. We remain encouraged and confident of achieving ourlong term objectives of inclusive sustainable and profitable growth. As we look ahead Ifeel confident of strong growth in the medium to long term. I am confident that ourdisciplined strategy prudent approach focus on agile execution and our committed teamwill enable us to improve performance further and create greater shareholder value.

Again I would like to express my gratitude to all our stakeholders for their continuingfaith in the Company. I express my heartfelt thanks to all employees bankers customerssuppliers Govt. authorities etc. for their continuous support.

With Best Regards

Sincerely

Bhavan Vora

Managing Director