It brings me immense pleasure to put forth the 9th Annual Report of yourCompany NANDANI CREATION LIMITED for the Financial Year 2020-21.
Financial year 2020-21 will be written in the world history in many ways but thepredicament to human lives due to COVID-19 coupled with economic tribulations would be theworst chapters to reckon with. For all of this year's upheaval we committed ourselves bystaying the course we refocused the sight of our purpose and we demonstrated that thecore will guide us through these turbulent times.
The first quarter was the darkest hour of the fiscal when neither businesses had anidea how to deal with the pandemic nor they were aware of the severity of the impact.Given the lack of short-term visibility it was the time to introspect and undertakeimmediate measures to stay on course. The global pandemic has presented such a crisis andthat too on a scale many of us have never experienced or could have predicted. The toll ofCOVID-19 on human life is heart breaking and has had an adverse impact on householdsbusinesses and economies globally.
YET COVID- 19 PANDEMIC IS A BLESSING IN DISGUISE FOR INDIAN E-COMMERCE MARKET:
COVID 19 pandemic is a "BLESSING" fo r Indian E Commerce Market as it boughta lot of positive impact on the e-commerce sector.
Though the initial few weeks of the lockdown were testing for e commerce players w ewere eventually able to emerge as winners. According to us Ind ia's online marketrecovered quickly after the nationwide lockdown and also witnessed a successful festivesales period ever. It goes without saying that cloths/daily wear kurtis like ours is oneof the basic needs and requirements after food. It is nothing less than any essentialcommodity and that's why even during lockdown online textile industry saw a boom in salesand will continue in the future as well". The online textile industry even registeredan increasing trend in sales due to no dependency on the offline industry for examplewholesaler semi wholesaler retailers middle persons etc and this will continue infuture as well. The online textile industry has all the valid reasons to give birth to newUnicorns in India. Right from choosing items to trying them even the return policiescreated a win-win situation for shoppers on the internet as customers felt verycomfortable purchasing stuff online. And hence the birth of online retailers Unicorns isimminent.
Many e-commerce players have started assessing consumer preferences and have startedaligning product categories and offer accordingly. We the owners of"JaipurKurti.com" brand have also assessed this and have started a new segment"Ethnic Lounge Wear/comfortable wear" as most of the people are doing work fromhome during this pandemic times.
BUILDING FINANCIAL RESILIENCE:
FY 2020-21 was a year of focused initiatives to implement measures to bring infinancial judiciousness amidst the pandemic that took a toll on economic activities. Wewere quick to execute group wide actions aligned to three key pivots of - costrationalization effective working capital management to maintain liquidity and reducedebt.
The year witnessed strengthened focus on efficient inventory management & relatedproduction cycles and speeding up collections. This resulted in improved cashflows whichenabled the Company to reduce the net debt.
ONLINE OUTSET: Currently Company's "JaipurKurti.com" Brand ranks among Top 10Brands at every Online Marketplace and especially its Bottom wear Category ranks at No. 1as per the Online Industry trends.We are using various marketing strategies to register astrong foothold in the Indian E-commerce Market. We are focusing on E-Marketing forenhancing our Brand Visibility.
Indian customers have started purchasing online as they have understood the importanceof online purchase and are attracted towards the benefits discounts Return/Exchangepolicies etc and have changed their purchase experience over the years. They can now getthe complete Store where they can choose according to the color size brand etc at oneplace only and too with just a click.
BRICKS AND CLICKS-FUTURE OF RETAIL:
We have opened 2 offline stores in the FY2020-21 and are eyeing the next phase ofexpansion to take the count of our stores total to 20-25 by the end of the FY2023.
It gives us immense pleasure and happiness when we see local brand like ours goingplaces across the globe. Now with further expansion and hiring we at Nandani Creation aregeared to perform even better and offer the best of the best of the fashion to ourcustomers.
Now customers can physically experience the excellent quality that we offer evenbefore they buy their loved brand .
We are proud of the consistent excellence achieved by your Company in FY21. Whencompared with FY20 it is clear we are staying true to its values.
Fashion is ever-evolving and we will be sensitive agile and open to the rapidlyevolving fashion market. The spirit of our design thinking lies not only in the brands andexperiences we create but also in building relationships leading innovation seffingtrends and providing fulfillment to consumers.
Truly complying with the name NANDANI CREATION LIMITED believes that the secret togreat style is to feel good in what you wear and thus we brings to you authentic andre-defined styles with a perfect mix of regional crafts intricate craftsmanship and luxefabrics in timeless color palettes .
Been an ace player in the fashion industry for more than 10 years Nandani has left nostone unturned to assure their customers and clients by constructing the most desirableoutfit as per their preferences.
MAIN BOARD MIGRATION:
We are quite excited to move to the main Board of National Stock Exchange of IndiaLimited and have received the In-Principal approval & P rincipal/Final Listing &Trading Approval from NSE for the same. The company will be migrated to the Main Boardw.e.f. 02nd September 2021 a vision which we have seen at the time of IPO inthe FY 2016-17. At this stage we thank our customer base stakeholders and well-wishersfor their continued support in making our company a big brand.
Our Total Revenue (Standalone) for the year were Rs. 46.10 Cr. as compared toRs. 43.74 Cr. in the previous year thereby recorded growth of 5.41%.
Our Total Revenue (Consolidated) for the year were Rs. 48.27 Crores as comparedto Rs. 47.09 Cr. in the previous year th ereby recorded growth of 2.51%.
Our Net Profit after Tax (Standalone) for the year was Rs. 1.78 Cr. as comparedto Rs. 74.16 Lacs in the previous year th ereby recorded growth of 140.54%.
Our Net Profit after Tax (Consolidated ) for the year was Rs. 1.91 Cr. ascompared to Rs. 85.22 Lacs in the previous year thereby recorded growth of 124.70%.
I would like to take this opportunity to thank our board and advisors along with ourmanagement for standing strong during difficult times and my special gratitude to everyemployee at every level for enabling us to stay strong and rise to the challenges that wefaced to emerge on a higher level of growth and sustainability.
|Warm Regards |
|Mr. Anuj Mundhra |
|Chairman & Managing Director |