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Vishal Fabrics Ltd.

BSE: 538598 Sector: Industrials
NSE: VISHAL ISIN Code: INE755Q01025
BSE 00:00 | 30 Jan 19.00 -0.25
(-1.30%)
OPEN

19.25

HIGH

19.55

LOW

18.55

NSE 00:00 | 30 Jan 18.95 -0.20
(-1.04%)
OPEN

19.20

HIGH

19.65

LOW

18.85

OPEN 19.25
PREVIOUS CLOSE 19.25
VOLUME 41048
52-Week high 45.00
52-Week low 18.25
P/E 5.43
Mkt Cap.(Rs cr) 375
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 19.25
CLOSE 19.25
VOLUME 41048
52-Week high 45.00
52-Week low 18.25
P/E 5.43
Mkt Cap.(Rs cr) 375
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Vishal Fabrics Ltd. (VISHAL) - Chairman Speech

Company chairman speech

Dear Shareholders

It has been a year like no other for Vishal Fabrics. The COVID-19 pandemic posedunforeseen challenges for businesses around the world and Vishal Fabrics too had toundergo significant hardships. However the changes that we implemented more than a yearago have resulted in rapid transformations that contributed to our business resilience andenabled us to navigate the uncertainty with confidence and rigour.

From the beginning of the pandemic our teams proactively strived to protect ourpeople our consumers and our business all while positioning ourselves to accept theaccelerated changes that are anticipated to shape the next decade. I am incredibly proudof our team particularly the workers in our factories and distribution centres who keptthe business moving despite significant challenges. The strength and resolve of our teamsgive me immense confidence to emerge stronger and establish newer grounds for success.

We were able to achieve 75% of the top line in comparison to last year due to betterrealisation and use of available resources. Our EBITDA also increased by 115 bps.Moreover the demand for denim shot up immediately after the relaxation granted by thegovernment. It not only improved our business prospects but also enabled us to fulfil thedemand surge. We also realised the importance of expanding our foray in export markets tosustain our business amidst tough times.

The pandemic resulted in rapid shifts in consumer preferences. To swiftly adapt to achanging business environment we continue to adopt digital channels. We are working withlatest technology sophisticated machines advanced accounting software and revampingmodes of communication to reach more customers. The security systems have also beenupgraded along with an accelerated push for digitisation of internal processes acrossdesign merchandising and marketing.

Towards a sustainable future

For long Vishal Fabrics has adopted a responsible approach to business and continuesto engage in endeavours that ensure sustainability across our operations. As anorganisation that is committed to improve the lives of people and contribute to thewelfare of communities and the natural environment we continue to modify our practicesand adopt methods that ensure a better future for the planet.

This year we have installed the ZDC (Zero Discharge) Effluent Treatment plant thattreats liquid waste from the manufacturing process and makes it reusable. In theforeseeable future we plan to install solar panels to increase our dependence onrenewable energy and ensure energy conservation. We also strive to reduce energyconsumption within our facilities through day-to-day practices and control the unnecessaryusage of Air Conditioners lights fans and other electrical appliances. Further we focuson energy consumption per meter of fabric production and aspire to increase the use ofrenewable energy for production processes.

Looking Ahead

Vishal Fabrics today holds a formidable position in the industry and is making the mostof emerging opportunities. Although the closure of shops in Q1FY21 did have a substantialimpact on our performance we are optimistic about reinstating growth in the days ahead.

As the Indian economy moves towards a steady recovery we witnessed some revival duringthe festive season of FY21 and expect consumer spending to improve in the near future.

Looking forward we remain confident about sustaining our performances in the long runand overcome obstacles with renewed enthusiasm. I want to take this opportunity to thankall our stakeholders for their unwavering support during turbulent times. We also remaingrateful to our people for their passion and dedication to take the company to newerheights of success.

Brijmohan D. Chiripal

Managing Director

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