It is always Pleasure and privilege to share with you highlights of the yearsperformance and outlook for the next year.
The year 2015-16 has been a year of positivity and optimism for the Indian economy.Despite weak global performance Indias growth story has remained steady at asimilar pace in 2015-16 (7.6 percent) as compared to 2014-15 (7.2 percent) . NotablyIndia has grown despite weaker demand from the worlds developed nations. Foreigninvestors are floating back as they foresee investors a period of stability and sustainedhigh-growth for the near and mid-term as India marches ahead to become the fastest growingeconomy in the world.
At Momai Apparels Limited we specialising in the non-branded intimate wear productsfor men women and kids. There is a major shift happening in the intimate wear space: theaspirational youth is demanding fashion in intimate wear which has hitherto anon-fashion functional and utility product. However compared to countries like China andThailand India is stull way behind in terms of consumer spend on fashionable intimatewear a clear indication of the huge opportunity that lies around.
It was another year of excellent financial performance by your Company. The KeyFinancial highlight are:
Our total revenues for the year were Rs.13851 lakhs as compared to Rs.12316.74lakhs in the previous year.
Our EBIDTA for the year was Rs.1131.88 lakhs against Rs.1059.40 lakhs in theprevious year.
Our net profit after tax for the year was Rs. 312.18 lakhs against Rs.366.49lakhs in the previous year.
In a span of only seven years we have become a force to reckon with in intimate wearmarket place. The combination of categories products range and design for the entirefamily gives us a distinct competitive advantage that is hard to replicate.
I thank all our stakeholders our bankers our investors our vendors and partners ouragents for their trust and faith. A special thanks to all the employees of the Company fortheir energy and efforts in the success of Momai Apparels Limited.
Chairman and Managing Director.