$ P Apparels Limited is always committed towards transparency to all stake holders. Ourcommitment towards our customers suppliers employees bankers and our shareholders hasalways been our main focus forthe sustainable growth of the company It has been excitingjourney and would like to thank all the stake holders in this journey.
The company has successfully converged into 1ND AS and has reported financials based onthe IND AS for the first time.
It is my pleasure to share with you on our financial performance for the FT 2017 - 18Financial year 2017 18 was a challenging year Brexit recession due to Brexit anddepreciation in currency was a major challenge for our growth for this FV 2017 - 18.In-spite all the turbulent global scenario high currency volatility GST Implementationchanges in the duty draw back structure and increase in the cost of materials the companywas able to tide over all the challenges and was able to sustain revenues and margins andmove forward in creating value to the shareholders.
PERFORMANCE ON A STANDALONE BASIS:
Our company had recorded total revenue for FV 2017 - 13 of Rs 3444.65 Mns as againstRs 6412.29 Mns of last FV 2016 - 17 which is a growth of 0.5%. EBITDA for the FY 2017 ISrecorded Rs 1203 Ivins as against Rs 1223 Mns for the FY 2016 - 17 which de-grew by1.63% mainly due to pressures in the currency. PAT for the FV 2017
- IS recorded Rs 42012 Mns as against Rs 494.62 Mns which de-grew by 15.04% mainly dueto currency and also because of the IND AS convergence. EPS for the FV 2017 - IS recordedat Rs 16.69 as against Rs 19.65 forthe previous year for the reasons mentioned above
PERFORMANCE ON A CONSOLIDATED BASIS:
Our company had recorded total revenue for FV 2017
- 10 of Rs 6767.97 Mns as against Rs 6542.99 Mns of last FY 2016 - 17 which is agrowth of 374%. EBITDA for the FY 2017 - IS recorded Rs 1222 Mns as against Rs 1249 Mnsfor the FY 2016 - 17 which de-grew by 2% mainly due to pressures in the currency PAT forthe FV 2017 - 13 recorded Rs 473.15 Mns as against Rs 547.67 Mns which de-grew by 13%mainly due to currency and also because of the IND AS convergence EPS for the FV 2017 -IS recorded at Rs 16.63 as against Rs 22.13 for the previous year for the reasonsmentioned above
We are very positive on the growth of the company in years to come. Customer additiongeographical diversification idea! product mix backward integration and scaling up ofcapacity will improve the revenue and margins fn years ahead. We are looki ng to increaseour sewing capacity consistently and the increase in capacity along with improvedefficiency will scale up our revenues from garment division over the period of time.
Our backward integration process in the spinning division will be completed during FV2013 19 and the commercial production will start in full swing by end of FV 2018-19.increased in-house yarn in-house fabrication and in' house dyeing will certainty improveour margins in years to come.
Our retail division is also growing on a faster pace. Our strategy under our retaildivision is to grow through our presence in large format stores Franchise stores and alsoCOCO stores. We are also spreading our distributor base consistently and will penetratewhole of India to be a preferred brand.
Our subsidiary company in UK has grown in revenue last year and we are looking to addmore customers and planning to increase our product mix and product segments and alsoplanning to source products from other countries which will enable us to be competitive
On behalf of the Board of Directors i wish to thank a