Dear Fellow Shareholders
It gives me great pleasure to share with you an update of the overall performance ofyour company. Inspite of challenging year for Indian Exporting Industries your companyperformed well and delivered another year of consistant competitive and profitableperformance. The company shown impressive growth in the margines. The Company receivedbest exporter award for overall export performance during 2017-18 from Council for LeatherExporters Central Region Chennai. In addition to Export Award in overall category thecompany also received the Best Exporter Award in Leather Footwear and Harness and Saddlery(Non Leather) and 2nd prize for Industrial Leather Gloves. The company also received StateExport Award Uttar Pradesh 2018-19 for high export performance among all categories andfor Leather and Leather Products.
Your company achieved turnover of Rs. 5675.23 millions and export turnover of Rs.4584.35 million during the year. The export turnover contributing 80.77% of the totalturnover. The impressive share of exports is an indicator of the very good demand for theproducts of the company across the world.
In spite of overall challenging condition of International Market the margines of thecompany increased during the year. The company earned profit before tax of Rs. 29.11crores during the year under review as compared to Rs. 19.54 crores earned during theprevious year.
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 Healthcare and Environment. During the year the Company contributed 3.89% ofthe net profit towards Corporate Social Responsibility (CSR) activities.
I would like to thank all our customers suppliers and colleague in India and abroadfor their wholehearted support and valued contribution during 2018-19. 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