1. Ladies & Gentlemen
It gives me great pleasure in welcoming all of you to the 19th Annual General Meetingof your Company. The Annual Report for the year ended 31stMarch 2019 has been circulatedso with your permission I shall take it as read.
2. Review of Performance
I would like to start by highlighting operational achievements during the year underreview.
Your Company delivered another year of financial performance with compare to financialyear 2017-18. Your Company earned profit after tax of Rs.5.07lacs during financial year2018-19.
The Company was not doing so well in Financial Year 2018-19 comparable financial year2017-18. Now we should be able to post even better results next year as we are all set tostrongly focus on taking our business to higher levels of operational excellence andgrowth. This gives me the confidence to say that with God's blessings team's hard workand your support; we shall be able to report stellar results for the next year.
Indian textiles industry is a well-established with showing strong features and abright future. In fact the country is the second biggest textiles manufacturer worldwideright after China. Similar force is demonstrated in the cotton production and consumptiontrend where India ranks just after China and USA. The textiles manufacturing business is apioneer activity in the Indian manufacturing sector and it has a primordial importance inthe economic life of the country which is still predominantly based on theagro-alimentary sector. Employing around 35 million people textiles industry stands as amajor foreign currency revenue generator and further proves it in its 14% share ofindustrial production and the 16% of export revenues it generated.
The country is also significant textiles fiber and yarn manufacturer on the worldscene taking on its own a 12% share of the world's production volume. India ranks on thesecond place as regards in production of silk and cellulose fiber and yarn whilst standingon the fifth position when it comes to synthetic fiber and yarn.
Indians have well understood the importance of staying one step ahead of developmentsin the world economic environment. The industry is now preparing itself to take share ofopportunities expected to arise out of the market freed from quota restrictions and othertrade barriers. Industry operators are increasingly moving towards modernization andexpansion as encouraged by the so-designated Textile Up gradation Fund Scheme implementedby Government.
4. Corporate Social Responsibility
Company's approach to social responsibility extends well beyond business and financialconsiderations. The Company has been set up to create economic and social opportunitiesfor those at the bottom of the pyramid and particularly aims to create awareness amongwomen and children about health sanitation and education.
5. Human Resources & Industrial Relations
The dedication and commitment of our people has been a key strength. We continue tofocus on enhancing the knowledge base through Learning & Development initiatives andare working on strengthening the management bandwidth. I am also pleased to inform youthat industrial relations at all units were cordial during the year under review and onbehalf of your Directors; I acknowledge the co-operation and contribution of the entireworkforce.
On behalf of the Board of Directors and the Management I would like to place on recordyour Company's sincere appreciation of the support extended by the Central & StateGovernment and their agencies term lenders & working capital bankers and thecontinuing patronage and support of all stakeholders.
I welcome your feedback and suggestions on what we can do to improve Anisha ImpexLimited as a company.
Feel free to send me your thoughts and comments at email@example.com@anishaimpex.com.
Sunil Kumar Malik
159 Gagan Vihar