It gives me immense pleasure to share with you the performance of your Company for the year 2018-19. In the challenging business environment our Company recorded profit of Rs. 3924.59 Lacs. The Board of Directors have proposed a final dividend of Rs. 7 per share subject to the approval of the shareholders atthe Annual General Meeting.
The recent elections have been coherent with the fact that the Indian economy needs a stable government to lead. GST has slowly started to settle the economy and shifting its course from an informal to a formal sector. Finance ministry is also exploring means to further plug tax evasion to track cash transactions with measures like using aadhaar card and electronic invoicing. As the unorganised segment still makes up around 45% of the plastic moulded industry with level playing field there's a huge growth opportunity for the organised players. One of the major setbacks Indian banks witnessed was to cope with the huge defaults made on Non-Performing Assets (NPA) which had affected the lending capacity of banks with new government initiatives funding to potential genuine borrowers will improve thereby leading to improved growth. The new government with finance ministry has prepared a 100-day agenda with an aim to push the economy and making a promise of turning India into a $5 trillion economy by 2025 while doubling the farm income by 2022. Going forward future is looking promising for Indian economy.
With aggressive competition companies are increasing their manufacturing capacities. Coupled with innovative business solutions and multiple modernization initiatives our Company has taken a bold step into encashing on 'Swaach Bharat' drive by entering the Waste management business and recently introduced a range of dustbins. Our company has always strived to be the customer's preferred brand in the market by constantly enhancing its product superiority product range widening distribution network and ensuring more improved focus on brand building and dominance in each business.
Customer satisfaction is our ultimate goal and we shall be persistent in our efforts in maintaining the topmost level towards the same. I would like to appreciate each and every employee of the Company for their efforts they put day in and day out for the growth of the Company. Employees are the key to a Company's success and l aspire for a growth that spreads across every Employee of the Company. I would like to take this opportunity to thank all our stakeholders - our customers suppliers Government and Regulatory Authorities in this realm of success. I would also like to thank Shareholders Directors Promoters further we shall appreciate the employees and workers who have stood by the Company & I look forward to their continuous dedication and support in the future.
Ghisulal D. Rathod
Chairman May 30 2019