Dear Fellow Shareholders
It gives me pleasure to share with you an update of 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 exporter award for overall export performanceduring 2018-19 from Council for Leather Exporters Central Region Chennai. In addition toExport Award in overall category the company also received the Best Exporter Award inLeather Footwear Harness and Saddlery (Non Leather) and 2nd prize for Leather Goods andFinished Leather.
Your company achieved turnover of Rs.4982.52 millions and export turnover of Rs.3901.68 million during the year. The export turnover contributing 78.30% 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 company earnedprofit before tax of Rs 24.35 Crores during the year review as compared to Rs. 29.11 croreearned during the previous 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.
The current pandemic is a big force for all round change. Change is the only rule incurrent times to constantly assess and realign the way we work we socialize and the waywe live. This is the only way to stay relevant with what the future might hold for us. Forall of us there has never been a bigger need to focus on and priorities personal safetyand hygiene.
As a responsible Corporate Citizen your company serves the society in the domains ofEducation and Healthcare and environmental. The company contributed Rs. 46.85 lacs towardsCorporate 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 2019-20. 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