Dear Fellow Shareholders
It gives me great pleasure to share with you an update the overall performance of yourcompany. Inspite of challenging year for Indian Exporting Industries your companyperformed well and delivered another year of consistant competitive and profitableperformance. The company received best export award in Non-Leather Harness/Saddles/Bridlesfor the year 2016-17. The company also received the Brand Creation Award for its brandSILVER STREET.
Your company achieved turnover of Rs. 5294.10 million and export turnover of Rs.4349.12 million during the year. The export turnover contributing 82.15% of the totalturnover. The impressive share of exports is an indicator of the very good demand for theproducts of the company across the world.
Due to overall challenging condition of International Market the margin of the companyalso slightly reduced during the year. We expect that your company will overcome thepressure on margin shortly.
Your company has strong financial to support its ambitious growth plans. Our resultsreflected sound execution of our business plans centered on global expansion anddisciplined cost and asset management.
As a responsible Corporate Citizen your company serves the society in the domains ofEducation and Healthcare.
I would like to thank all our customers suppliers and colleague in India and abroadfor their wholehearted support and valued contribution during 2017-18. Further we havemuch to look forward to as we strive to make our company even stronger and continue tofocus on delivering to our customers.
I am grateful to our independent directors who have given their contribution and sharestheir valuable experience and knowledge of the management to take the company forward. Ialso take this opportunity to express my gratitude to all our stakeholders who havereposed a trust in us and extended their constant support.
With best wishes
Chairman and Managing Director