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Momai Apparels Ltd.

BSE: 532520 Sector: Industrials
NSE: MOMAI ISIN Code: INE133R01015
BSE 05:30 | 01 Jan Momai Apparels Ltd
NSE 05:30 | 01 Jan Momai Apparels Ltd

Momai Apparels Ltd. (MOMAI) - Chairman Speech

Company chairman speech

Dear Shareholders

It is always Pleasure and privilege to share with you highlights of the year’sperformance 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 India’s 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 world’s 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.

Yours Sincerely

Harshad Thakkar

Chairman and Managing Director.