It gives me immense pleasure to present to you the Annual Report for 2020-21. To beginwith I hope every one of you and your family is well and healthy. In these challengingtimes it is more important than ever before to remain vigilant in safeguarding the healthand well-being of the team while reliably supplying products to our customers.
The year under review had a decent volume and low profit despite the macro-environmentheadwinds and general slowdown of the economy not just in India but across the globe. Thesluggishness of the market's response leads to squeezed margins and inventory piles up indownward price trends of raw materials.
We at Anand Rayons Limited persistently aspire to retain the benchmark of qualitycustomer centric approach robust engineering in-house research & mapping timelessvalues and transparency in all spheres of business conduct which contribute in making us apioneer and renowned in textile industry.
We intend to purge all distractions that interfere in our business. We concentrate onestablishing credibility building relationships and execute our plans to perfection inour venture to provide outstanding service. Last but not the least we endeavour tomaintain a long lasting relationship with our honoured clients.
Industries across the globe has witnessed economic slowdown resulted into reducedrevenues and profits due to reduced Demand. However as the situation gets normalisedIndustries will gradually set to normal. Despite of the challenges faced by the companydue to Covid scenario we are ready for the accelerated growth by expected pickup indemand from user industries and margin expansion. In the present fiscal we will benefitfrom gradual growth in market demand as the Covid scenario eases.
I appreciate the confidence and faith reposed by the shareholders in the Board and theManagement team which has in my view geared up to take on more challenges. I can saywith confidence the Company will improve its performance further in the coming years. Thisis however only possible through tireless efforts; dedication and commitment of our teamwho have helped us reach where we are now and look forward to their continued commitmentin the journey forward.
On behalf of Board of Directors we would like to sincerely thank our all stakeholders-customers employees suppliers partners and investors for their continuing supportconfidence in us.
Mr. Anand Bakshi
(Chairman & Managing Director)