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Winsome Textile Industries Ltd.

BSE: 514470 Sector: Industrials
NSE: N.A. ISIN Code: INE837B01031
BSE 00:00 | 10 Aug 13.98 0
(0.00%)
OPEN

13.99

HIGH

14.00

LOW

13.22

NSE 05:30 | 01 Jan Winsome Textile Industries Ltd
OPEN 13.99
PREVIOUS CLOSE 13.98
VOLUME 4516
52-Week high 24.00
52-Week low 11.13
P/E
Mkt Cap.(Rs cr) 28
Buy Price 13.01
Buy Qty 200.00
Sell Price 14.74
Sell Qty 100.00
OPEN 13.99
CLOSE 13.98
VOLUME 4516
52-Week high 24.00
52-Week low 11.13
P/E
Mkt Cap.(Rs cr) 28
Buy Price 13.01
Buy Qty 200.00
Sell Price 14.74
Sell Qty 100.00

Winsome Textile Industries Ltd. (WINSOMETEXTILE) - Chairman Speech

Company chairman speech

Dear Shareholders

It is with gratitude that I look forward to sharing my thoughts on Winsome Textile withyou every year. I would like to thank all our shareholders and staff for resting theircontinued support and faith in us and our vision. This not only gives me an opportunity tointrospect on what we were able to achieve in the year gone by but also share my visionfor the company's future. We started our journey in 1980 with just 16000 spindles and nowhave expanded to a capacity of 110000 spindles and can produce 30000 kg of dyedfibre/yarn per day by incorporating latest machinery in our business. We also hold acapacity of manufacturing 8 MT knitted fabric in-house which gives us verticalintegration. Not only have we been able to manage planning to meet the customerrequirement in small extent of time but also increase the various products that we havethrough advanced research and development.

This year was a challenging year for textile industry with majority of the businessesinvestors and clients still recovering from the losses incurred due to confusion onimplementation of GST and uncertainty revolving around the US China trade war. Despite thechallenges thanks to our adaptive approach our company has managed to perform fairlywell this year. We remained focused throughout this period of time and strategicallyretraced our direction of growth through innovations sustainability and brand marketingof our key idea of quick response time. Improving and maintaining quality of our productswas also given paramount importance to create a consistent base of customers over theyear.

Our vision has been to produce more Value Added textile through the process ofcontinuous improvement by dedicated innovation and development. Our passion has led us tomaximise our drive for research and make products that are innovative and functional. Ourdesire for excellence doesn't end there we go ahead and beyond with our commitment toresearch and try to find ways to make these innovations economically viable. We believethat we should follow a strategy of pushing new products into the market every few yearsin order to boost growth and disrupt the market. Thus our research and developmentdivision which has been gaining accolades including recognition from Government of Indiahas been hard at work. This

will help us along our journey of becoming a global player in innovative and valueadded yarn and knitted fabric. We have already become a trend setter for the melange yarnmanufacturing in India and believe that further growth can be achieved in this segmentthrough an incessant urge for betterment. Our aim is to strengthen our capabilities inthis special product which will soon become a regular commodity. If we achieve this is duecourse of time we will be able to gain competitive edge over others and dominate themarket for both Indian and International market.

Our commitment to maintain standards and certifications over the past many years hashelped us to establish a better relationship with our clients and gain their trust. Thishas enabled us to expand to over 250 customers across 54 countries in addition to morethan 300 customers within India. One of our USPs is our ability to improvise as percustomer requirement. The wide range of colour and type of yarn combinations that we canprovide with the help of our state of the art labs and passion to deliver is hard to matchfor our competitors and gives us a strong edge.

While our products reach distant parts of the world our roots are firmly grounded inthe foothills of Himalayas. In a move to enhance our sustainable practices wesuccessfully developed a 3.5 MW capacity hydro plant. This plant decreases our reliance onnon-renewable energy sources by more than 20% and decreases our power costs in excess of12%. We are proud of this small step we have taken towards being completely sustainable.

Our operating and financial position is strong while our strategic roadmap is clear. Weare confident in excelling over the next years with the positive growth we observed inthis year. Our revenue for this year grew at 8% when compounded annually for the last 5years. Our EBITDA margins have grown to 13% as compared to 12% in the last financial year.Company's manufacturing EBIDTA that dropped 31% last year has now recovered and grew 9%in the current financial year. This year we were also able to increase our earnings pershare from previous financial year by 125%. With our increasing profits our debt toequity ratio is stable at 1.8x which we feel is optimum for a business like ours in thecurrent business environment.

I would like to express my regards to all our partners across countries for theirdedication commitment and contribution in strengthening Winsome Textile. Our mission isto transform Winsome Textile Industries Limited into arenowned global company andconstantly staying at the forefront to set industry benchmarks. We have already laid thefoundation for this through our initiatives and are ready for the next leap. I firmlybelieve we are on the right path in creating a value for our product and emerging in themarket as one of the biggest contender in our area of expertise.

I would like to pay my earnest appreciation to the Board of Directors for theirconstant guidance. I would like to express my gratitude to all our stakeholders for theircontinuing faith in us.

Yours Sincerely

Ashish Bagrodia

Chairman and Managing Director Winsome Textile Industries Limited