FAZE THREE LIMITED
ANNUAL REPORT 2006-2007
This is a special time in the history of Faze Three Limited as today I am
reaching out to you from a Rs.100 Crore young and dynamic Organisation. The
Company in the passing year clocked a turnover of more than Rs.100 Crores,
thus achieving another milestone.
The passing year marked one more milestone when the Company got listed on
Luxembourg Stock Exchange with its USD 8 Million Foreign Currency
Convertible Bonds (FCCBs) offering. The U.S. Marketing office of the
Company was made fully functional during the year under review thus
facilitating smooth liasoning and co-ordination with the U.S. and global
The achievement of these milestones testify to the robustness of your
Company's strategy and augur well in terms of future value creation for
shareholders. The focus on nurturing strategic capability is rapidly
positioning the business to garner a growing share of the exciting market
opportunities unfolding in global market's customers.
The progress outlined above reflects our conviction to follow a path less
traveled and the commitment to go the extra mile to redefine the limits of
possibility and capability for world-class execution.
Your Company has made substantial investments in technology, processes and
systems and innovation, which is aimed at acquiring international
competitiveness in terms of quality and cost in each of its products. I am
pleased to inform you that during 2007 your Company entered in a Tie-Up
arrangement with an Indian Company called MP-81 sit so as to develop and
produce a yarn named 'Eazyl n' which is used for making Bathmats and a
trademark application for the same has already been made in U.S.
The rewards of Management's commitment to substantial investment in
expansion plans are evident in the rapid strides being made in terms of
growing demand for the products of the Company and hence the increased
market share. A platform has thus been shaped for embarking on the next
phase of aggressive marketing that would unveil the finest home-textile
business and a sound infrastructure to support rapid growth.
Gearing up for the future, we have the key success factor's necessary to
withstand the winds of change. The encouragement provided to build a highly
skilled and creative Design and Production team, which is reinforced by
tire state-of-the-art infrastructure, our vibrant market presence with a
strong product range, which draws its strength from technical prowess, high
quality production and cost effectiveness that will guide us to bring
greater efficiency in the future.
The road ahead is very exciting and challenging and on this occasion I
further seek your unstinted support in our shared journey to be a leader in
the Global Home Textile business.
Chairman & Managing Director