A warm Namaste! During the year 2019-20
I took over the mantle of Chairmanship of your Company's Board of Directors from Mr. KDPudumjee a very noteworthy and fine administrator. The Board and I acknowledge the greatcontribution made by Mr Pudumjee towards the growth of Yash Pakka. I sincerely thank theBoard for providing me with this opportunity and must say I'm deeply honoured to addressyou all.
Over the past few years Yash Pakka has emerged as one of the most innovative playersin the packaging solutions industry. Your Company's key differentiating factor has alwaysbeen its ability to conceive design and manufacture products minimizing impact on theenvironment. Starting from manufacturing pulp using renewable bagasse your Company hasmade a successful foray into innovative compostable packaging solutions.
The year 2019-20 was one of the most challenging years for the entire economy as thecountry witnessed a decline in consumer demand followed by a slowdown of GDP. In spite ofthese headwinds your Company's performance was robust recording highest profitabilityand significant growth. Kudos to the management and employees of your Company.
The world is moving through an unprecedented pandemic and the resultant concern forhealth and hygiene will see significant rise in demand for single-use packaging solutions.With plastics having significant impact on the environment the sustainable solutions fromYash Pakka are expected to emerge as strong alternatives. We are already seeing tractionin the demand for our products from new customers as well as export markets.
Anticipating significant demand from the international market our office in the US wascommissioned and has helped us in strengthening our international sales.
We strongly believe that with its demographic advantage India has a strong and growingdomestic demand. With the Government of India announcing a slew of measures to bring theeconomy back on track we expect that there will be strong demand for our products fromwithin. We expect that the economy will soon start rebounding in the foreseeablefuture.The Prime Minister's vision for India in the throes of the Covid-19 pandemic hasensured a steady transition to a self-reliant India. Yash Pakka too is geared to be theGlobal Indian company that epitomizes 'Atmanirbhar Bharat'.
The per capita packaging consumption in India is much lower at 4.3 kgs compared tocountries like Germany and Taiwan where it is 42 kgs and 19 kgs respectively. Howeverwith the growth in organised retail and boom in e-commerce segment the consumption ofpackaging products is expected to grow multifold in the coming years.
Yash Pakka with its commitment of providing sustainable packaging solutions is poisedto create a niche for itself in the coming years. Looking forward to your continuedsupport in your Company's endeavours.
Pradeep Dhobale Chairman - Yash Pakka