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Marvel Decor Ltd.

BSE: 535059 Sector: Industrials
NSE: MDL ISIN Code: INE575Z01010
BSE 05:30 | 01 Jan Marvel Decor Ltd
NSE 05:30 | 01 Jan Marvel Decor Ltd

Marvel Decor Ltd. (MDL) - Chairman Speech

Company chairman speech

Dear Shareholders

Dear Shareholders

Greetings of the day!

It is my pleasure and privilege to present to you the Annual Report forFinancial Year 2021-22 and share the highlights for the year.

I Ashok Paun Chairman and Managing Director of the company welcomeyou to this Twenty Sixth Annual General Meeting of the company will be held at Jamnagar.

I am very glad to share you that company has achieved a consolidatedrevenue of Rs. 42.81 crore as compared to previous year of Rs. 28.70 crore. ConsolidatedSales volume increased by 49.16% compared to previous year and this year we have achievedEBITDA of is Rs. 5.32 crore as compared to previous year of Rs. 3.58 crore. EBITDAincrease by 48.60% compared to previous year. Consolidated Net profit increase to Rs. 1.49crore as compared to previous year of Rs. 0.10 crore.

I am very happy to share with you that our subsidiary company expandits current production capacity by adding one more unit in UAE to enhance capacity ofdouble for fulfill the requirement of our channel partners.

Our Subsidiary company i.e. Callistus Blinds Middle East FZC at UAEhas achieved a revenue of Rs. 22.52 crore as compared to previous year of Rs. 10.56 crore.Sales volume growth by 113.26% compared to previous year. EBITDA of is Rs. 0.85 crore ascompared to previous year of Rs. 0.39 crore. EBITDA increase by 117.45% compared toprevious year. Net profit increase to Rs. 0.27 crore as compared to previous year of Rs.(0.11) crore.

Our Subsidiary company i.e. Callistus UK Limited at UK has achieved arevenue of Rs. 0.97 crore as compared to previous year of Rs. 0.19 crore. Sales volumegrowth by 416.83% compared to previous year. Net profit increase to Rs. 0.04 crore ascompared to previous year of Rs. (0.003) crore.

Our company has appoint more than 200+ new Channel Partner in IndiaGCC UK USA Australia New Zealand and few more countries.

Total market size of window covering blinds in international market ismore than 20.8 bn. USD. A few year back our company has started the internationalbusiness. Therefore we have vast opportunity to grow our business in internationalmarket. Considering the present performance of our subsidiaries at UAE and UK we haveproven that our products price and quality is accepted in international market. I amhappy to say that our company will expand and grow rapidly in upcoming years. I can saythat the “Sky is the limit” for our company.

I am glad to announce that company has added a new product in 2021-22as per demand of our channel partners of UK Canada USA and other countries.

I am very happy to share that in recent year India's strength hasincreased as a country in worldwide. Acceptance of our countries products and service isincreased too. I hope Our company will get benefit of it in near future too.

Finally I must emphasize that the resilience of our teams and theirefforts have enabled us to cross several growth milestones and I am sure there are manymore milestones to cross in our journey of sustainable growth.

On behalf of the Board I thank all our shareholders and associates foryour continued support and trust.

Let's all grow together.

Thank you

Warm regards

Sd/-Ashok R. Paun (Chairman and Managing Director)

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