We've had an exceptional year. Thanks to our clients our employees and stakeholders.
I am very delighted and deeply honoured as I put forward before you the Annual Reportof the Company for the financial year 2018-19.
As you are aware the country recently witnessed two large economic events ofdemonetization and introduction of the GST. Both Government initiatives were targetedtowards greater formalization of the Indian economy and increasing the level oftransparency and compliance in economic transactions in the country.
Despite of the above challenges the Company was able to successfully maintain itsrevenues profitability and cash flows due to its inherent strengths built over twodecades.
Fashion is ever-evolving and we will be sensitive agile and open to the rapidlyevolving fashion market. The spirit of our design thinking lies not only in the brands andexperiences we create but also in building relationships leading innovation settingtrends and providing fulfillment to consumers.
Truly complying with the name Libas Designs Limited believes that the secret to greatstyle is to feel good in what you wear and thus we brings to you authentic and re-definedstyles with a perfect mix of regional crafts intricate craftsmanship and luxe fabrics intimeless color palettes .
Been an ace player in the fashion industry for more than 14 years Libas has left nostone unturned to assure their customers and clients by constructing the most desirableoutfit as per their preferences.
The Company remains committed to its growth strategy and the overall performance of theCompany is expected to improve in the coming years.
I extend my sincere thanks to all our stakeholders including lending banksshareholders customers and our loyal hardworking and committed employees for theircontinued support in shaping and improving the performance of the Company.