It brings me immense pleasure to put forth the 14th Annual Report of your Company ParinFurniture Limited for the financial year 2019-20.
The end of this year was marked by the enormously challenging COVID-19 pandemic whichhas fundamentally altered the world and continue to do so. We are moving resolutely tourgently address these challenges. We have confident that the progress we made during FY2019-20 put us on the right path to improve the execution of our strategy and drivesustainable profitable growth over the long term. Although the world is facing tough timesahead your Company is well-positioned to rise to the occasion.
Performance for the last financial year was in line with our expectation where wecould withstand the sharp increasing it with growth in terms of revenue and turnover. ourstrategy to de-risk the business through providing qualitative products proved to be verysuccessful.
While we have always known that each business stands uniquely apart in its thinkingobjectives and resources we believe the timing is opportunity to run them independently.The year gone by is proof of our long term innovative approach to doing business whetherfrom the point of view strategy operations or sustainability and various businessverticals allows the company to maintain a space and remain competitive in today's everchallenging market place. After considerable thoughts our sustainable way to move to thenext level on product differentiation that will continue to be our backbone to developmarket and stay true to Parin' core purpose "to serve the world with a betterlifestyle" by delivering best quality products of furniture and consistentlyimprove quality and standards for betterment of our customers.
I would like to acknowledge the hard work dedication of our talented employees fortheir passion and dedication with which they continue to contribute to the culture ofexcellence. We thank you all for your continued support in our growth. Further also thankyou our investors for your patience for showing confidence and trust in managementcapabilities and guidance thus far and looking forward to the future with optimism andinnovation.
As we move forward into our next year may you and your family stay safe and healthy.
|Warm Regards |
|Umesh Nandani |
|Chairman & Managing Director |