It gives me immense pleasure to present the first Annual report after listing ofsecurities at "EMERGE" platform of National Stock Exchange of India Limited on11th July 2018. It feels great to address you as a Chairman because it gives mea chance to say thanks to everyone for their role in making our venture a success. Onbehalf of Board of Directors I express my gratitude for faith confidence and convictionkept towards us by the stakeholders. The expansion project undertaken by the group duringthe year is going ahead of the schedule. This could be possible with the support of youbeing the new invesfor in the company Kotak Mahindra Bank Ltd who granted Term Loan andmost sincere and dedicated efforts put in to implement the project ahead of time. Theoverwhelming response of Our Initial Public Offer proves the confidence of stake holder inour company.
There is series of important events in financial year ended on 31.03.2019. The companyhas come with the IPO by way of new Equity shares.The overwhelming response to IPO isdisplaying the trust and faith towards the company. Our Company is a textile fabricsprocessing unit with an aggregate installed capacity of 720 lakh meters p.a operatingthrough 2 units located at Tarapur MIDC and Saravali MIDC. Our Group has acquired landat MIDC Tarapur in the name of M/s. Jakharia Industries a partnership firm in whichyour Company is a partner with 96% share of profit. We believe that our Company will earnbenefits of economies of scale by increasing its processing capabilities and also earnshare of profit from such Partnership firm which would in turn add to the operatingresults of our Company in the future.
The Indian economy is running towards exception growth and rapid development. Theleadership of our Prime Minister is taking the economy at higher level. "Make inIndia" concept is getting phenomenal response from the public. The management of thecompany is very much impressed with various new concepts of development floated by thegovernment. The company tried to increase the brand value of India by giving best qualityin its products which are exported out of India. With great endeavor of whole team thecompany is stepping towards the progress in quality as far as in profitability.
I would like to place on record my sincere appreciation to the Board of Directors fortheir guidance heartfelt thanks to all the customers business associates suppliersbankers lead manager underwriter market maker CDSL and NSDL NSE SEBI and RTA fortheir support. Lastly I would like to extend my gratitude towards all our shareholdersfor their continuing faith and confidence in the management of the company. We aim to earnyour trust every day and will work towards achieving the greater heights of success incoming years.
With best wishes
Chairman & Executive Director