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Bhandari Hosiery Exports Ltd.

BSE: 512608 Sector: Industrials
NSE: BHANDARI ISIN Code: INE474E01029
BSE 00:00 | 14 May 2.59 0.03
(1.17%)
OPEN

2.65

HIGH

2.65

LOW

2.50

NSE 00:00 | 14 May 2.60 0.05
(1.96%)
OPEN

2.65

HIGH

2.65

LOW

2.50

OPEN 2.65
PREVIOUS CLOSE 2.56
VOLUME 56119
52-Week high 4.78
52-Week low 0.83
P/E 129.50
Mkt Cap.(Rs cr) 38
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.65
CLOSE 2.56
VOLUME 56119
52-Week high 4.78
52-Week low 0.83
P/E 129.50
Mkt Cap.(Rs cr) 38
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bhandari Hosiery Exports Ltd. (BHANDARI) - Chairman Speech

Company chairman speech

CHAIRMAN & MG. DIRECTOR'S MESSAGE

Dear Shareholders

I have great pleasure in presenting the Twenty Seventh Annual Report and AuditedFinancial Statements for the financial year ended 31st March 2020. The year2019-20 has been challenging time with lower GDP growth. The novel Corona virus hasaffected the smooth running business over the entire world.

In terms of business the lockdown in various nations has affected the business andgrowth during the last quarter. The Indian Textile & Apparel Industry has maintained astable trend during the year 2019-20 but the export numbers were hit due to unprecedentedlockdowns in various parts of the world.

During the year 2019-20 your Company was able to achieve turnover of Rs. 277.53 Croresas against Rs. 266.39 Crores in the previous year showing an increase of 4.14% over theprevious year. The Profits after Tax of the Company for the year ended 31.03.2020 has beenat Rs.5.31 Crore as against at Rs. 5.36 Crore in the previous year showing an fall of0.9912% over the previous year due to enforced lockdown in the last month of financialyear.

During the year the Company undertook an expansion in fabric processing unit and dyeingby installing high tech machinery like fabric stenter and high tech compactor. The Companyis widening its business in both domestic and international market each year. The COVID-19scenario has certainly put a halt on our plan and we could not get full utilization of ourexpansion. It is also very hard to predict the coming financial year due to heavy impactof COVID-19. We aim to survive in this financial year & come out fighting from thisscenario. However we hope the vaccine comes soon so that we can continue our growthpattern.

When it comes to the current global scenario with respect to apparel manufacturing itis advantage to India. With sanctions enforced and trade war with China the US market isbecoming favorable and more opportunistic to Indian Textile Sector. Due to such eventsbusiness of US Inc. is being shifted to the India during the year. We continue to monitorthese developments with respect to our risks and opportunities.

Our success and growth greatly depends on the skills and dedication of our employeesco-operation of our Bankers and other business constituents whom I would like to thankssincerely. I am looking forward to another exciting year ahead.

The COVID-19 situation is getting very challenging day by day. The number of cases areincreasing very rapidly. I strongly urge everybody to please take extra care &precautions because until the vaccine comes our first priority should be concentrated onour health.

Finally I take this opportunity to thank all the Company's stakeholders for theirconfidence in Bhandari Hosiery Exports Ltd. and look forward for their continued supportin the years to come.

Warm Regards
Sd/-
Nitin Bhandari
Chairman & Mg. Director

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