From the Managing Director's Desk
As I reflect on an exceptionally difficult year one thing is clear we have all beenimpacted by COVID-19. The cruelty of this pandemic has been unparalleled and my heart goesout to all those who are grieving the passing of loved ones to those who have lost theirjob and to business owners who have been forced to shut down. While it has been a toughyear for many and there are still immediate and pressing matters such as economic reliefand equitable and widespread vaccination rollout to address I am hopeful that better daysare ahead.
Through all the challenges I have deeply admired the resilience of my staff memberscolleagues who demonstrated dedication and professionalism and kept the business movingforward. I am also grateful to our customers and to you our shareholders for yourunwavering trust in the Company.
The Company is in engage in to the business of manufacture of protective gears thesegears are basically rain wears winter wears and life jackets which are used in seas andother water bodies for the safety.
The Company is also involved in trading of the protective's gears. The product rangeincludes Rainwear Coat
Rain Jacket Pulsar Jacket Winter Jacket River Raft Boat Inflatable Boats Dinghy'sSleeping Bags School Bags Life jackets Rucksack facial's mask etc. The raw materialused to manufacture these protective gears is called Coated Fabric.
The manufacturing facility is located at Bhandup West Mumbai Maharashtra having a totalarea of approximately 5190 sq. feet. This manufacturing unit is recognized for itsin-house quality Management.
The manufacturing process starts with procurement of coated fabrics and then theprocess of cutting stitching sewing inspection and packing of the final products isbeen carried on.
Takeover of Billwin Industries through Business Transfer Agreement:
As shareholders must be aware that in year 2006 the promoters of the Company Mrs. Smita Dey formed a proprietary concern under the name and style of M/s. BillwinIndustries and a manufacturing unit was set up in Nahur. Later in the year 2014 Mrs.Smita Dey and Mr. Subrata Dey incorporated a private limited company Billwin WaterproofPrivate Limited.
In the year 2020 the Company through a Business Transfer Agreement (BTA) has acquiredthe proprietor firm named Billwin Industries. The Business takeover has resulted into asynergy effect which will provide an in organic business growth and would result in thestable financial position of the Company in the coming future. This Acquisition wouldprovide strategy to build a sustainable and profitable business and synergies throughsupply chain opportunities and operational improvements go-to-market and distributionnetwork optimization scale efficiencies in cost areas such as marketing and optimizationof overlapping infrastructure.
It has been advantageous to combine the activities and operations of both proprietorfirm and Company into a single Company for synergistic linkages and the benefit ofcombined financial resources. This will be reflected in the profitability of the Company.This Takeover will also provide an opportunity to leverage combined assets and build astronger sustainable business and will enable optimal utilization of existing resourcesand provide an opportunity to fully leverage strong assets capabilities experienceexpertise.
Other benefits that can been seen is increase in reserves investments goodwillmanpower finances customers distributors brands etc. at its disposal for meeting itsrequirements.
4 ANNUAL REPORT 2020-2021
In a world threatened by a third wave and variants of the original virus it would beinsensitive to provide a financial guidance. At Billwin we are fairly positioned to tacklethe for the future provided the Government and regulatory authorities coming out withfavorable steps/ enabling processes for the industry. I am optimistic that this complementwill empower us to bring a wider range of products that enhance our consumer centricitycompetitiveness and profitability. In today's uncertain environment there can be nobigger priority.
I once again thank you for your support and I sincerely look forward to your continuedsupport in the future as well. I also express my heartfelt thanks to my colleagues andteam at Billwin without whose active support it would not have been possible to reach thecurrent stage.
Wising all of you a very good health and stay safe! Stay fit!.
|Thank You |
|Subrata Dey |
|Managing Director |