Dear Share Holders
I am delighted to share the major events and developments of your company during thefinancial year 2020-2021. The performance of the company is steady and a healthy growth isseen in the business and the profits despite of many international political eventscreating adverse effect to the business all over the world.
We have been continuously supplying packed Glitters to A leading multicity craftStores USA as per their orders and to other small and large customers in Europe and othercountries. This year we have started supplying Packed Glitter to various large and smallcustomers in Domestic segment also and are confident of gaining a decent market sharesoon. In the list of the same the Prominent is Roff branded glitter packed in a containerand supplied to a MNC in India.
There are some other companies with whom a successful trial is made and an order hasbeen finalized with another prestigious company of Paint Industry namely in India a groupco of an international paint co.
In the current year we have successfully done testing of Bio degradable glitter iswhich has been accepted by our first batch of customer at UK for greeting cards and USAfor door mats. Now a mass production order is under negotiation.
We have also developed shaped glitters marketing and is catching attention of users asa new concept and we hope to achieve a good response in market.
We have displayed our products on Amazon India and are doing online sales through themdirectly to the consumer which is also receiving a fair response from the consumers acrossthe Country and the brand name of Midas is building up its place in the consumer market.
Our Journey in the field is full of changes due to innovation in tools style ofproduction and hence a market of new opportunities and challenges. We have been grabbingall the chances and opportunities with initiatives to grow steadily and maintainingprestige and image of your company.
To conclude we had a challenging and thrilling year. Our enthusiasm is constantlygrowing targeting growth in sales and profits.
Again I would like to express my gratitude to all our shareholders and investors fortheir continuous faith in the company. I also greet from the bottom of my heart to allemployees consultants bankers customers suppliers and last but not least the Govt.authorities for their continuous support.
|With the best regards |
|Sincerely yours |
|Bhavan Vora |
|Managing Director |