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Jet Knitwears Ltd.

BSE: 538374 Sector: Industrials
BSE 05:30 | 01 Jan Jet Knitwears Ltd
NSE 05:30 | 01 Jan Jet Knitwears Ltd

Jet Knitwears Ltd. (JETKNIT) - Chairman Speech

Company chairman speech


It is my privilege to write to you and present the Annual Report for 2018-19 as theManaging Director of the Board of your Company. I'm particularlypleased with how theCompany hasperformed in the domestic market. Despite the disruption due to theimpact ofthe Goods and Service Tax we continued to execute on our strategy to improve customeradvocacy drive value from our core business and build pathways to future growth. We havetaken the changeoverto the new tax regime in our strideand we welcome the efforts madebythe Government to formalize theeconomy.As business evolves the biggest challenge of anycompany is to ensure smooth leadership succession and cultural continuity. I am very proudof and grateful for what yourCompany has achieved over the pasRs 23 years.

With improved salesperformance with right strategy and strong delivery your companygenerates considerable revenue growth. As we all know thatour company has continued togrow as a lean and agile organization in the past years despite the challengingeconomicconditions in India but still the performance is satisfactory.

We firmly believe that the strengthof our brands underpins our growthmomentum. In FY201819 revenuefrom operations increased to 9.95%. Total revenue stoodat '4732.85 Lakhs inFY 2018-19 as against '4304.59 Lakhs in theprevious year. Profit before Tax(PBT) increasedto '200.67 Lakhs in FY 2018-19 from '162.24 Lakhs in FY 2017-18 which shows growth ofabouRs 23.69%.

This performance has been achieved through continuous focus on customer centricinitiatives strengthening of network capabilities and widespread deployment ofinformation technology. As you all already know that your Company is having a strongnetwork of more than 5000 retailers which are being served directly by the Companythrough various retailers depot of the Company. To give boost to casual wear section thisyear we launched our new product of Jeans with the Brand "LYCOT AUSTRALIA" Jeanswhichis also available online.This product will be marketed throughout the marketing fieldof the Company.To support future growth and to give boost to clothing segment we will addmore items like Shirts in the range in near future. Your Company is also trying its bestefforts to expand its market in other states of the Country to boost up its sales.

The Company firmly believes that the employees are its most valuable asset. This beliefis translated into action through a number of initiatives for improving employeeengagement capability building empowerment and thought leadership to yield consistentgrowth.

Our Directors Executives Managers Employees work as a team to achieve good practicesand with these new guidelines vow to work with more zeal and confidence.

On behalf of the Board I would like to thank our employees management team dealerscustomerssuppliers and all other stakeholders for their commitment in the excellentperformance during the year. I would also like to take this opportunity to thank mycolleagues on the Board for their mature counsel.

Finally I thank you for your continued trust confidence and support.

Thanking You

(Balram Kumar Narula)

Managing Director