Dear Valued Shareholders
It gives me great pride to present to you the 17th Annual Report of 'YUG DECORLIMITED' for the Financial Year 2019-20.
Financial Year 2019-20 was a rewarding yearforthe Company in spiteofthe intensifyingcompetition and challenging market conditions which are normally prevalent in anybusiness. By rendering the best of efforts to improve its performance the Company hasbeen able to steer itself back to the profitability position. As informed to you allearlier through the previous years' Annual Report that the Company had decided to dwellupon the Adhesive business only for the time being. This strategic move of shifting themarket focus substantially to the adhesives business has also paid off. A growth of 8.09%in the adhesive business in the reporting year is evident to the judicious decision madeby the Company in a timely manner.
There couldn't have been a more momentous occasion for the Board of Directors of theCompany to recommend for your approval dividend of Rs.1.40/- per share (14% of the facevalue of Rs.10/-) for the first time in the history of Yug Decor. A remarkable featindeed that was made possible only by the sheer hard work and belief of our managementteam.
Currently we are in the midst of some exceptional and unprecedented times. COVID-19has posed challenges across the globe and disrupted our lives like never before. We haveentered to the new fiscal year at a time when there is massive economic downturn and thenext few months will be difficult for everyone individuals as well as organisations. ButI want to assureyouthateven in these uncertaintimes your Company has been taking all themeasures to successfully mitigate risks and navigate businesses to sustain its performancewhile taking care of its employees our assets and our stakeholders and customers in astrong unfaltering manner. I am confident that together we shall come out of theseunfavourable circumstances and strive to achieve higher goals.
Before closing I would like to thank our managementteam and our employees for theirhard work and contribution. Their support is the cornerstone of our achievements. I wouldalso like to take this opportunity to express my gratitude to our suppliers customersour bankers government authorities and to you our shareholders for the unwavering trustand support reposed in us. We will be delighted if youcontinueaccompanying us in ourjourneyas we work towards building the Yug Decor of tomorrow.
Santoshkumar R. Saraswat
Founder & Director