On 15th November 2018 my father and Hon'ble Chairman of our company leftfor his heavenly abode. He will remain with us forever in our hearts inspiring andguiding us all into the future. He was a visionary who looked ahead with a powerfulvision. He fostered enduring relationships and demonstrated respect and hard-workingethics throughout his life influencing all of usatVardhman Polytex Limited with hisexemplary principles.
Being given the opportunity to carry the baton I am presenting the Annual Report andsharing with you the performance of the company for the financial year ended 31stMarch 2019. Our revenue from operations was ? 810.55 crores registering growth of 30.45%over the prior year figure of? 621.36 crores. However Operations of the company haveresulted into net loss of ? 74.26 crores as against loss of ? 423.88 crores during theprevious year. This has been again a challenging year for the company due to externalmacro-economic factors as well as internal financial stress being faced by the company. Wehave been facing difficult operating environment due to liquidity crunch which resulted insub-optimum utilization of manufacturing facilities. Despite the adverse circumstances wehave managed to show growth in sales revenue though margins have squeezed tremendously.
With the capacity installed and competence of management and its workforce I amconfident that the Company shall come out of present situation and shall be able toimprove its performance. Though we are fighting multiple battles together we hope toemerge out of the adversities and regain our strength.
Before concluding I want to thank our business associates banks employeesshareholders and customers on behalf of our Board for their support and faith in us. Weare confident that this continued support will help us to turn the course of theorganisation.
Chairman and Managing Director