I'm deeply honoured to present to you our first annual report as a listed publiccompany. Our company has completed its first year of listing on BSE SME platform on the5th of September 2017. Last financial year has truly been a remarkable one marking a lotof achievements in the nascent history of Shish Industries Limited:
Expanding our facility to record capacity of 1000 MT Per Annum and marking the highestlevels of production i.e. 771 MT which is nearly twice as muchas FY17's.
We have also recorded stupendous revenue growth over the previous year i.e. 833 Lakhsin FY18 over 517 Lakhs in FY17.
Apart from this there were many improvements and improvisations at our factory tooptimise production.
Apart from achievements in numbers there have been many amends in the focus andstrategy of our company as a whole.We at Shish have been shifting our focus from commoditynatured products to less competitive value added products which helps us create a nicheand record higher margins.
In order to achieve the same we created 5PLY Corrugated Sheet which we were the firstones to introduce and manufacture in India and then attained a patent for the same. We'veinitiated another patent registration and have been allotted a patent pending status.Apart from Intellectual Property protections we have in general been trying to movetowards less competitive products; for instance the PP Bubble Sheet we manufacture iscurrently manufactured by only 3 more players in the entire country.
Although such products offer higher conversions they possess a challenge at the sametime. For instance when we first offered our clients 5PLY sheet it was difficult toconvince them of its ability to replace plywood in pellets and in many more arenas. Thechallenge is to create market for a product which the customers are unaware of (and askingthem to pay more for its benefits). To combat this we have been increasing focus on oursales team and channels to improve our reach.
As we move forward it will be important to create market for our products and makethem available to our customers easily. Till the time we are able to completely shift ourrevenue mix to these products we will keep on manufacturing the regular offeringsprevalent in theindustry to keep the unit running at decent levels.
In the coming years our company's focus will be in manufacturing less competitive andexclusive packaging products and marketing them in both domestic and foreign markets.
I would like to finish my letter on this note by wishing the company its employees andits shareholders good luck.
Thanks and regards