"From this year onwards TTFL has become a one-stop business partner for all of itsclients which augurs higher customer satisfaction and better sales volume from ourexisting clientele."
The future for TTFL looks very promising where we plan to grow incrementally from ourmanufacturing operations while keeping trading operations status quo.
It gives me immense pleasure to present to you our Annual Report for the financial year2018-19 this year becomes all the more significant for Trident Texofab Limited and itsstakeholders as we begin a new chapter in the life of our company.
After a decade of consistent performance in its core competency - trading of textilesour company started with the manufacturing of textile products in FY2018-19. Our entiremanufacturing setup was not operational throughout the financial year and hence themajority of business was still driven through trading operations. This was because ourgreenfield weaving unit in Surat got delayed due to increased complexities in compliancesand late shipment of machinery the same got commissioned in April 2019. In the years tocome manufacturing will play a prominent role in the progress of our company. We have inplace our integrated manufacturing unit which undertakes various steps of the valuechain like - weaving stitching digital printing heat setting embroidery and finishedgarments. Our company also increased its team strength near 5 times this year totaling to97 on account of its new operations.
Not only did our newly incorporated manufacturing operations boost profitability butit also enhanced our product offering and customer satisfaction. From this year onwardsTTFL has become a one-stop business partner for all of its clients which augurs highercustomer satisfaction and better sales volume from our existing clientele.
We witnessed revenue growth of 1.7% over the previous financial year along with anexpansion in operating profit margin from 1.7% in FY2017-18 to 2.7% in FY2018-18 whichled to a 69.9% increase in profit after tax over the previous year. This was due to ashift in sales-mix towards manufacturing operations.
The future for TTFL looks very promising where we plan to grow incrementally from ourmanufacturing operations while keeping trading operations status quo. We also plan toexplore new geographies internationally this year particularly in the Middle-eastern andAfghanistan region. Our company has raised debt in the current year to finance theadditional capital employed in manufacturing operations. We completed a preferential issueof 200000 compulsory convertible cumulative preference shares (CCPS) at a price of Rs.101.48 per share raising a total amount of approximately 203 Lakhs. We have in place thenecessary infrastructure team strength and capital to cater to the demand for the comingfinancial year.
With warm regards