Welcome to our Annual Report for FY19 which comes with the theme"Growing the future" which is a concise of our strategic intent to secure ourfuture.
Growing the future
We have been Growing the Future. From a revenue of र 202 Crore in 2009we have grown to र 607 Cr in FY19 over a period of 10 years. During the same ten yearsperiod our profit before tax grew from 8% in FY09 to 21% in FY19. Over the period we alsoprogress in terms of our technological operational human resources products and socialcapabilities. Today we are the 2nd largest infant apparel manufacturer in the world. Weare a supplier of choice to world's leading apparel brands and retail chains. Duringour year on year progression we had faced multiple external and internal challenges. Wehave been able to surmount most of them with our avid focus on our vision to be the No.1infant garment manufacturer in the world and the resultant management actions to achieveour goals.
Various timebound expansion plans under our vision 2025 is ongoing andI am confident of achieving these milestones with the support from our team customerssuppliers and other stakeholders.
When it comes to the current global scenario with respect to infantapparel manufacturing its mostly advantage India. We are a stable and growing economywith a strong democratic system. Compared to many emerging economies our politicalsocial and economic factors are stable. We are quick in adopting global best practices andtechnology scaleup. Across the globe especially with the developed world we have a warmand cordial relations to strengthen our trade relations.
During my FY18 address to the shareholders I had briefly touched uponthe consequences of US trade barrier on China and its impact on India. The US- China tradewar continue to escalate. In a recent study the Commerce Ministry has identified 203products including apparels where exports could be increased to the US. We continue tomonitor these developments with respect to our risks and opportunities. our performancein fY19
Our performance for FY 2018-19 has been a year of remarkable growth.Your Company continued to build a strong product lines for the future and we stay investedin bringing operational efficiencies to improve the quality of products. On consolidatedbasis total revenue for the financial year under review was र 62928 lakhs as against
र 55992 lakhs for the previous financial year I.e a year on yeargrowth of 12.39%. Profit before tax was र 13019 lakhs and net profit after tax was र8145 lakhs for the financial year under review as against र 10748.92 lakhs and
र 7002.23 lakhs for the previous year.
Going forward we would keep you updated on a regular basis on all thematerial developments in your Company through our periodical Statuary and InvestorRelation Communications. I take this opportunity to thank our team customers suppliersbanks and investors for the continued support and guidance.
|Sabu M Jacob |
|Chairman & Managing Director |