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Pioneer Embroideries Ltd.

BSE: 514300 Sector: Industrials
NSE: PIONEEREMB ISIN Code: INE156C01018
BSE 13:16 | 25 Oct 57.75 -0.25
(-0.43%)
OPEN

58.95

HIGH

58.95

LOW

56.80

NSE 13:09 | 25 Oct 57.60 -0.85
(-1.45%)
OPEN

58.50

HIGH

59.85

LOW

56.35

OPEN 58.95
PREVIOUS CLOSE 58.00
VOLUME 1574
52-Week high 79.40
52-Week low 18.80
P/E 6.30
Mkt Cap.(Rs cr) 154
Buy Price 57.70
Buy Qty 4.00
Sell Price 58.00
Sell Qty 39.00
OPEN 58.95
CLOSE 58.00
VOLUME 1574
52-Week high 79.40
52-Week low 18.80
P/E 6.30
Mkt Cap.(Rs cr) 154
Buy Price 57.70
Buy Qty 4.00
Sell Price 58.00
Sell Qty 39.00

Pioneer Embroideries Ltd. (PIONEEREMB) - Chairman Speech

Company chairman speech

Dear Shareholders

It is a great honor for me to address the fellow members of the Pioneerfamily. People's lives livelihoods and general well-being are being affected by theglobal pandemic and ongoing lockdowns. On behalf of the Company I take this opportunityto extend my heartfelt condolences to everyone who has suffered a loss of family orfriends on account of this pandemic. We as a responsible organization have been standingin unity as one Pioneer family helping the lives we could touch upon in these adverseconditions.

Unprecedented times like these define an organization's strength anddemonstrate the values it stands for. Our focus is on ensuring health safety andwell-being of all our employees and service providers. While we faced many challenges onthe business front I am proud to state that not a single person working in Pioneer losthis job. Instead we all came together as a family and successfully tackled thisunparallel situation.

However we have taken advantage of this opportunity to reviveourselves and evolve with the changing times as a Company with global presence. We seehuge potential in Specialized Polyester Filament Yarn (SPFY) embroidery & lacesbusiness and continue to invest in our brands Silkolite & Hokoba. Also SPFY businesswill continue to drive the future growth of the Company due to its unique approach forproviding end-to-end solutions.

Incidentally we had set up our first greenfield project to manufactureSPFY amidst Global financial crisis high crude oil price and general stress. We were alsohaving debt servicing concerns at that time but despite these setbacks we were able tocarve a niche for ourselves in SPFY by creating the Silkolite brand. Today Silkolite isan established brand in a highly commoditised field. It has created an excellent recallamong our customers because of wide range of quality products at user-specific order size.Hakoba being our heritage brand focuses more on the retail segment and deliversaffordable fashionable and exclusive products. Basis on in-depth research on customer'spreference we continue to add products in our portfolio for growing bigger.

I am happy to share that your Company has emerged stronger with thehelp of an experienced team best in class manufacturing units which includes our colourand design library. Our strengths are driving us to create higher value and more impactfulsolutions for our stakeholders.

During the year Company's financial performance was badly affected bythe pandemic in the first quarter but revived in the next three quarters. In FY2020-21 theCompany delivered a Revenue of '22597 lakhs EBITDA margin stood at 12.9% and Profit at?1967 lakhs. Interestingly the combined EBIDTA of SPFY buisness during the last twoyears i.e. FY 201920 and FY 2020-21 stands higher than the project cost of ?50 croresthat the Company had spent while establishing the first Greenfield yarn project.

With great optimism we have set ourselves up to be a future-readyCompany by putting in place robust systems and processes to help us navigate the newnormal. We commit to keep growing in order to meet the needs of our customers employeesand shareholders. We wish to express our sincere gratitude to all our stakeholders fortheir aid support and cooperation. We would like to express our heartfelt appreciationfor all workers' tireless efforts commitment and contribution to the Company.

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