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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


Dear Shareholders

It is my privilege to present to you the 25th Annual Report of yourCompany's performance for the Financial Year 2020-21. Ever since we commenced our journeyour prime focus has been to be a part of every Indian household with a differentiatedportfolio of brands. For nearly past two decades we are pursuing this vision and havecrossed many milestones along the way.

The past fiscal year was an extraordinarily challenging year for everyone. It was anunprecedented year that brought forth disruption in all areas of the industry throughwhich emerged the concept of a new normal. The Governments around the world including inIndia have responded to the challenge through a combination of public restrictionsisolations and vaccinations along with various other initiatives and schemes.

As we renewed our operations post lockdown we displayed great resilience agility andresponsiveness in our operations. It is our abiding belief that true growth lies in movingforward together. Extensive steps at various levels are being undertaken to safeguard andprotect the employees and ensure business continuity. This helped us survive the pandemicand find opportunities in times of adversity. Our passion was displayed by our workforcewho worked relentlessly in the time of crisis to ensure that our customers received thebest of our products and services. I applaud all my colleagues and staff at office whohave kept up the workplace morale and rhythm during these harsh times. Company is strictlyfollowing all the guidelines issued by the regulatory authorities and is in compliancewith the norms to operate its manufacturing operations.

Market disruption was tackled efficiently through innovation and digitalization alongwith a gamut of new products that focused on health and hygiene the need of the hour.Further the management has also formed a view to venture in the field of pharmaceuticalsdetergent and agricultural products which have tremendous potential and business prospectsin coming times. This will certainly prove to be crucial step in order to enable theCompany to capitalize on the business opportunities in the above sectors in coming timesand also expand the scope of Company's operations.

As we enter into a new fiscal year yet again we were struck down with the second waveof the pandemic and with even more severe aftermaths this time. Further according tovarious researches there is also expectancy of the third wave of Covid-19 may hit Indiain the month of August end/September. Thus the outlook for the remainder of thisfinancial year also remains very uncertain at this time. Despite all the odds andadversities we aim to continue our operations with agility progressing towardsexcellence with ultimate passion and a renewed sense of purpose. We are committed to caterto the needs of our stakeholders with innovative solutions and go a step beyond ouroperations to contribute significantly to the well-being of our environment and community.I maintain a positive outlook and pray that with the grace of almighty together we shallcome out of this crisis.

We often interact closely with our stakeholders to understand their needs and help themstay safe during this ongoing pandemic. By adapting to agile and flexible work structureembracing efficient working capital management and expanding our current market segmentswe endeavour to create value for our stakeholders at each step. We being a regional brandto be able to survive and sustain in this highly volatile and competitive business arenais no small achievement.

As you all already know that your company is having a strong network of a mix ofDealers Wholesalers and Retail sales Depots. These Retail sales Depots serves the endconsumer directly by giving them service over their counters. Our new Brand of casual wearsection "LYCOT AUSTRALIA CLOTHING" launched previous year is gradually gainingrecognition in the market. The product is being marketed throughout the marketing field ofthe Company as well as on online platforms along with all the other products which yourcompany produces. To support future growth and to give boost to clothing segment we willadd more items like Shirts in the range in near future. Your Company is also trying itsbest efforts to expand its market in other states of the Country to boost up its sales.

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

On behalf of the Board I would like to extend my sincere thanks to the managementteam employees dealers customers suppliers and all other stakeholders for theircommitment in the performance during the year. I wish the Jet Knitwears Limited team thevery best to continue to operate safely and effectively manage the uncertainties that liesahead of us.

Finally I thank you for your continued trust confidence and support.
Warm Regards
(Balram Kumar Narula)
Managing Director