I would like to begin with congratulating you all as our company completes 25 years ofsuccess in the footwear industry. It gives me great pleasure to announce yet another yearof healthy growth. Financial Year 2018-19 was a crucial year for us as we re-emphasizedour focus on the growth agenda we had set for ourselves. The Financial year ended on March2019 was another successful year where despite a challenging environment our business wasable to face competition. We expanded our reach and further strengthened our distributionso that we can serve our consumers better with our wide range of product offerings.
We have been going through a major transformation over the past years and it is noteasy to assess the transformation impact from one single year's results but when lookingback it becomes clear just how much has changed. Our teams feel engaged and empowered toalways do better and push our shared ambitions to greater heights. Our transformationjourney will continue to build from what we have been achieving.
We recognize that the same factors that affected our performance at some point lastyear will continue to weigh on our margins in 2019. However we are confident we willimprove our profitability during the year and we know what to do in order to makeprogress.
We continue to take steps towards manufacturing excellence across our production units.We have been improving productivity and reducing manufacturing cost year on year with thehelp of world class manufacturing concepts. Last year was no exception wherein we wereable to manage our manufacturing expenses extremely well while maintaining our highstandards of quality and manpower engagement.
In the year ahead the business environment will continue to remain challenging andcompetitive intensity is likely to remain high. With our purpose driven productspassionate employees and your continued support I am confident that we will continue todeliver growth that is consistent competitive profitable and responsible.
As we move ahead you can be assured that we shall work diligently to take this Companyto greater heights. I would like to thank all of you our stakeholders some of whom havebeen with us for many years are an integral part of our journey in empowering our peopleand our company to be more. If we can execute our strategies and do the things we mustlearn to do the year and the years ahead of us could be deeply rewarding and I lookforward to a great journey ahead together.
With best regards
Ramesh Chand Agarwal