I am delighted to write and present to you the 30th Annual Report of yourCompany for the Financial Year 2018-19.
Over the last year your Company has undertaken several key initiatives to drive landsustain long-term growth:
1) Strengthening its toy segment both in the domestic as well as in internationalmarket.
2) Entering into a technical know- how arrangement with M/s Floteks of Turkey worldleaders in the field of rotomoulded plastic automotive components to exploit the hugepotential in this segment presented by the implementation of the BS VI norms from the 1stof April 2020.
3) Augmenting the range and the offerings in its three wheeled E vehicles which willallow it to be eligible for the benefits under FAME 2 as well as increase penetration ofits products in the market.
I am pleased to inform you that in the financial year ended on 31st March2019 your Company has achieved a turnover of Rs.1567266199.50 in comparison to theturnover of Rs.1422569250.39 in the previous financial year.
From almost three decades your Company has been delivering products aimed at not onlymeeting but also surpassing customer expectations. From water tanks to children toys andfurniture to point of purchase solutions to high end automotive components and nowelectric vehicles- your products have touched the lives of almost all segments of oursociety. Your products are in use in over 100000 educational institutions. The brand istoday synonymous with quality and I am extremely pleased when loyal customers come forrepeat purchases and show their satisfaction for the products used.
We are in the process of augmenting our sales and service network in the E-Vehiclessegment and would soon be present across the length and breadth of our country.Parallelly we are aggressively pursuing opportunities for B2B relationships and havealready signed up MOU's with some of the leading players who would need our vehicles notonly for their delivery needs but also in furtherance of their CSR initiatives. We arevery confident on the potential of this segment. The Indian government has embarked on anambitious plan to make India an e-mobility country by 2030.
We expect that with the ongoing encouragement and support of our shareholders we shallbe successful in achieving your Company's objectives in the near future. I would like toexpress my earnest appreciation for the valuable efforts of every employee of theorganization without whose efforts the Company would not have been able to undertake thechallenging targets in all areas of operations. I would like to express my gratitude toour Board of Directors Customers Suppliers Dealers Bankers and Financial Institutions.I value your ongoing trust and confidence in the Company.
With Best Wishes
Rajan Handa Managing Director