At the outset I on behalf of entire CKP family take this opportunity to thank all ofyou sparing your valuable time for this occasion. Further it gives me immense pleasure topresent the sixth Annual Report of CKP Leisure Limited. Financial Year 2017-18 has beenvery eventful for the company wherein we got your Company converted from Private Limitedto Limited company and got it listed on NSE Emerge platform. The listing has been veryencouraging and we got good response to our Initial Public Offer But in Financial year2018-19 Such decision taken by Board keeping in view hardship and market slow down facedby Club Sirkus post few unexpected incidents took place near Club Sirkus. The Companyfaced loss of goodwill and revenue due to same. So Board of Directors feels that it isprudent to sale Club Sirkus and considers the proposed sale in best interest of theCompany. I on behalf of the Board of Directors would now like to highlight some keyaspects of the year under review: Revenue generated during the FY 2018-19 of Rs. 127.43lakhs the same in last year was Rs. 1004.76 Lakhs so EBITDA has fallen. Net worth of theCompany has reduced to Rs. 1448.02 lakhs from Rs. 2054.07 lakhs in F.Y. 2017-18 to due tosale of substantial undertaking (club Sirkus) in financial year 2018-19. While ourManagement team & employees took significant initiatives to search other variableprojects and business opportunities. Market challenges offset the benefits of internalimprovement efforts leading to significant profit erosion. Finally I would like to takethis opportunity to thank you as the shareholders of the Company for your support &motivation to the Company during the year. I would also like to thank the lenderscustomers suppliers further shall appreciate the employees who have stood by theCompany & I look forward to their continuous dedication and support in the future.
|With best wishes |
|Chanakya Dhanda |