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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

Year 2019-2020 a year which we started our global expansion by giving shape anddedication to our dreams has been truly exciting and challenging with many learnings addedto our experiences. It is great to be communicating with you. Covid-19 has posedchallenges across the Globe I want to assure all that even in these uncertain times yourCompany has been taking all the measures to not just successfully mitigate risks andnavigate business but also take care of its employees assets and the company customersand community at large in a strong and sustainable manner.

Despite of unexceptional and unpredictable times of pandemic with the difficulteconomic environment we have successfully carved a notable presence of our Brand Callistusin UAE Oman and Bahrain. We are pleased to share with you that our unit at UAE has beenable to do good achieving sales of 7 Crore INR in the very first year of itsestablishment with 50+ authorized Gallery displays of our products in our own Brand"Callistus" at Channel Partners showrooms/Studios.

The lockdown in March this year affected performance in the last quarter and to anextent cast its impact on the results for year. Viewed in the context of the challengeswe were able to deliver a good performance and make considerable progress overall.

Our Company has been expanding and building the roots in different developed countriessince last one and half year which has resulted in successfully establishing our BrandCallistus Internationally gaining trust and credibility of our valued customers. We arevery glad to announce that we have opened and launched our product range widely in UAEOman and Bahrain. An exponential growth is expected this year as we have launched inUnited Kingdom as Callistus UK Ltd and have received an impeccable feedback from ourcustomers/network of Channel Partners.

Ushering our dream for Global expansion we have strived to evolve ourselves into amultinational window blinds manufacturing company for its customers empowering them todesign their desired home Window Fashion.

These efforts saw a new triumph in FY 2019-20 and have resulted in a large focus beingplaced on providing inspirational ideas innovation and customised solutions through ourwebsite exciting customers in a unique way.

We are accelerating our entry into complete solutions for customized window coveringsto the Globe in wide by introducing innovative and high quality Range of Curtain Tracks.We are in process of launching curtain tracks in all 3 continents as soon as the currentsituation of Covid-19 gets settled within a couple of months.

Compared to last financial year we expecting growth in 2021. As the world hesitatinglystaggers back to routine much would change.

Business in a post-pandemic world will be full of new challenges and new opportunities.The customer who emerges after months of lockdown would come with new expectations. Aspeople at large seek to make changes in the way they live work travel it will inevitablyimpact our business. Triumphant will be the companies that cater to customers through thetransition with innovative ideas and solutions and bring smiles on their face and comfortto their homes with luxury and privacy.

I am sure our inherent resilience and the unparalleled dedication of our employees willhelp us navigate through the exciting times ahead and continue to create unmatched valuefor all. I take this opportunity to thank you all for your unwavering support andcommitment that continues to provide us strength to forge ahead in our endeavour. Thefuture is promising & exciting and with support from shareholders investors bankersvendors and our customers we shall establish our mark worldwide.

Yours Sincerely

Ashok R. Paun

(Chairman and Managing Director)