You are here » Home » Companies » Company Overview » Pashupati Cotspin Ltd

Pashupati Cotspin Ltd.

BSE: 535005 Sector: Industrials
NSE: PASHUPATI ISIN Code: INE124Y01010
BSE 05:30 | 01 Jan Pashupati Cotspin Ltd
NSE 00:00 | 04 Jul 122.50 0
(0.00%)
OPEN

123.00

HIGH

123.00

LOW

122.00

OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Pashupati Cotspin Ltd. (PASHUPATI) - Chairman Speech

Company chairman speech

Dear Shareholders

It is our absolute pleasure to share with you the performance of the company and ourcollective gains for the fiscal year 2020-21.

The fiscal year witnessed challenging times due to several macroeconomic factors;however your company continues to grow owing to its business model policies strategiesand the proven ability to survive through difficult times. The company also focused ontechnological enhancement quality improvement and research and development in order tomaintain and increase operational efficiency.

FINANCIAL PERFORMANCE REVIEW

Due to multiple macroeconomic factors which led to a slowdown in the global as well asIndian economy and the severe impact of the COVID-19 pandemic the company’sfinancial performance from April to September 2020 su_ered and the industry faced nearly25% reduction in the price of the raw materials.

However circumstances have changed and the business pace has varied over a period oftime. The company recorded operational revenue of Rs. 4409811019. The Company performedexceptionally well in the later half of the year i.e. from October to March andregistered a positive growth as compared to the same period in the previous year.

The net profit also grew significantly from Rs. 34801265 in FY 2019-20 to Rs.53043547 in FY 2020-21.

Your Directors take immense pleasure in informing that in the previous year yourCompany paid dividend of (O.50 Paise) 5% and with the growth in its revenue this year yourBoard of Directors have recommended an increase in the payment of dividend and proposed(0.75 Paise) 7.5% final dividend for the Financial Year 2020-21.

INDUSTRY TREND

The textile industry was severely hit following the COVID-19 pandemic that led touncertain times. According to a report from AEPC India the global apparel market shrunkby 22% coming down from US$ 1635 billion in 2019 to US$ 1280 billion in 2020. Theconsumption is expected to reach to pre-Covid levels over the next couple of years andthen retrace its growth path to reach US$ 2007 billion by 2025.

The demand for textile goods fell domestically and internationally as people focusedonly on buying essential goods and stocked on their savings. However there was a silverlining in the dark clouds. The textile minister announced that India’s market size inthe textile front expects a 10x growth in the near future.

Moreover due to a decent amount of stock maintained with the Cotton Corporation ofIndia (CCI) the company has an opportunity to purchase from the CCI. Gradually thedemand in the United States and the European Union is also rising and India seems to bethe forerunner in the exports front. Thus your company believes that good times lie aheadof us.

SOCIAL INITIATIVES

The Company is very focused on contributing to society and has ably sought to integratesocial concerns in its business operations. Completely understanding the significance ofboth of these factors the Company has always believed in dedicating its time andfinancial resources in equal ratio. With our unwavering commitment to deliver something tosociety the company has been planning to invest in renewable energy in the near future.The group is cognizant of the needs of the people who work for it and undertakes socialactivities to ensure well being of its workers and society at large in the fields ofeducation health and skill development. A step further to guarantee sustainability toits initiatives the Company mainly contributes its CSR Funds to Pashupati HealthcareFoundation (Registered under Section 8 of the Companies Act 2013) which is engaged inCancer Awareness Activities.

LOOKING AHEAD

The company is focusing more on operational management research and development andmoving towards professional and well-qualified management to offer the best services tothe customers.

The company is also in an endeavor to keep up with the best industry-standard practicesin order to fulfill the demands of the dynamic business and also wishes to expand itsgeographic presence in the years to come.

In conclusion I would like to express my heartfelt gratitude towards the Board and ourManagement for their constant support and enthusiasm. I am extremely grateful to ouremployees our clients the leadership team and all our well-wishers who have supportedus with their trust and guidance through this challenging year. I acknowledge the supportof our Creditors Customers Bankers and every other stakeholder for their faith and trustin our abilities. We also wish to thank the COVID-19 frontline workers for their sel_essservice to the greater community which is helping us all get through these tough times.

While the world is still shaken by the aftermath of the COVID-19 pandemic we continueto look forward with enthusiasm and hope and also seek your support in our endeavor.

Stay Safe! Stay Healthy!

Thank you

Saurin Parikh

Chairman & Managing Director

.