" With firm capabilities and a wide variety of products across the textile valuechain we aim to be at the forefront of the textile industry. Our passionate commitment toexcel at every step results in maximum value for our customers every time. We aspire toreach and tap the requirement of this industry with our expertise wide presencecontinuous modernisation initiatives and upgradation".
It is yet another year that brings me this opportunity of connecting with you throughour 33rd Annual Report. Despite challenges the year under review was a year ofdiverse offerings innovative designs deeper reach and customer-centric approach-all witha solid base of a robust fundamentals geared to maximise the value for our customers.
Amidst the slowdown across the global economies India managed to retain its status asone of the fastest growing economies in the world. With a GDP of 6.8% it is a leadingeconomy in Asia. As far as the textile sector is concerned the Confederation of IndianTextile Industries (CITI) states that the worst is over for the Textile & ClothingIndustry and is expected to be on the verge of a turnaround. Also the Indian textilesector being the largest industrial employment provider employing more than 10 crorepeople directly and indirectly it is certainly a major industry for the economic growthof our country.
A continuous support from the Government will put the industry back on track and weanticipate good days for the textile and apparel sector in the years to come. The Indiantextile industry has the capacity to produce a wide variety of products suitable todifferent market segments both within India and across the world.
During the year under review the net revenue increased from ' 1649 Crores in 2017-18to ' 1874 Crores in 2018-19. EBIDTA changed from ' 134 Crores in 2017-18 to ' 168 Croresin 2018-19. The Net Profit stood at र16 Crores in 2018-19. Challenging industrycircumstances impacted margins of the Company to some extent.
We at Sangam continued to be agile by exploring the evolving trends in the market.Our country is getting younger with the growing volume of the young population. Thereexists a huge scope beyond the urban lands as well which are growing in all aspects oflife including the textile and clothing. The affordability is increasing the aspirationsfor spending are growing and the expectations of comfort and better experience are onrise. All this leads to the need of quality products across various product segments.Leveraging on the rising demand we focused more on expanding our seamless garment segmentthrough our fast growing brand C9.
With firm manufacturing capabilities and a wide variety of products across the textilevalue chain such as dyed yarns fabrics and readymade garments we aim to be at theforefront of the textile industry. Our passionate commitment to excel at every stepresults in maximum value for our customers every time. We aspire to reach and tap therequirement of this industry with our expertise wide presence continuous modernisationinitiatives and upgradation. We through our focus on rich values and versatile businessapproach are confident of benefiting from the opportunities in the years to come. I takepride in the efforts and perseverance of the entire Sangam family for their contributionin our journey. I would like to thank the investors and stakeholders for their rock-solidsupport. We hope to have ever-lasting relationship with them that will allow us to createconsistent value for all in the future.