THANK YOU FOR BEING A PART OF OUR JOURNEY! WITH YOUR CONTINUED SUPPORT I AM FULLYCONFIDENT THAT WE CAN ACCOMPLISH THE AMBITIOUS GOALS THAT WE SET FOR OURSELVES AND COME TOBE RECOGNISED AS NOT JUST A SUCCESSFUL MOLDING COMPANY BUT ALSO AS ONE OF THEINDUSTRYS MOST ADMIRED AND VALUABLE COMPANIES
It gives me great pleasure to present to you the 31st Annual Report of the Company forthe year 2018-19. With customer delight and value at the centre of our growth charter weraised the bar higher to deliver holistic product and service offerings. By exploringtogether new technologies and innovative ways of working we are developing future-focusedsolutions for our customers our partners and all those who believe in progress.
The Indian economy reported a flat growth of 6.8% in 2018-19 owing to several externalchallenges in the form of global slowdown higher oil prices and rupee depreciation.Moreover 2018-19 being a pre-election year further halted the otherwise steady growthjourney of the economy. However with the same Government continuing for its second termthere will be several positive policy reforms which will lead to increasing investmentsand consumption to bring the growth back on track.
At Mitsu we continued to strengthen our industry positioning through our consistentfocus on new product development and innovation. With your sturdy support and trust wewere able to successfully commission a state-of-the-art plant with latest technology atKhalapur Maharashtra spread over 78000 sq. ft. The plant is one of the first unit inIndia to have the widest range of products from 100 ml to 250 ltr size in plasticpackaging industry. It started contributing to the Companys production output in themonth of December.
We firmly believe that innovation is the lifeline of your Company. During the yearunder review we introduced 5 new products for our existing as well as new clientadditions. I am confident that our innovation and quality-led business strategy willenable us to make the most of the opportunities that we see ahead across our business.
Our talented team of employees is the key driver of all our initiatives going ahead.Their determination coupled with commitment and self-driven motivation have enabled us towin big in the industry. The efforts put in by our team have aided in winning ET PolymerAward for our product Bed Board Plank under best innovation award in healthcaresegment. I am also grateful to our Board of Directors for their guidance and support.
At Mitsu we are committed to create maximum positive impact by architecting a brightfuture not only for us but also for the communities in which we operate. We work on alocal level ensuring inclusive development thats designed to uplift all sections ofthe society. We strive to create a long-term value with our stakeholders to maintainaccountability responsibility and trust.
Thank you for being a part of our journey! With your continued support I am fullyconfident that we can accomplish the ambitious goals that we set for ourselves and come tobe recognised as not just a successful molding company but also as one of theindustrys most admired and valuable companies. Best regards
(Chairman and Whole-Time Director)