It gives me great pleasure to share with you an update of the overall performance of your company. Inspite of challenging year for Indian Exporting Industries, your company performed well and delivered another year of consistent, competitive and profitable performance. Your company won the Niryat Shree Gold Award 2015 during the year in overall Export Category for 2014-15. The Company also received the Best Export Award in Non-Leather Harness/Saddles/Bridles during the year.
Your company achieved turnover of Rs. 5796.64 millions and export turnover of Rs. 4877.73 million during the year. The export turnover contributing 84% of the total turnover. The impressive share of exports is an indicator of the very good demand for the products of the company across the world.
Due to overall depressed condition of International Market the margins of the company also reduced during the year. We expect that your company will overcome the pressure on margin, shortly.
Your company has strong financial to support its ambitious growth plans. Our results reflected sound execution of our business plans, centered on global expansion and disciplined cost and asset management.
As a responsible Corporate Citizen your company serves the society in the domains of Education and Healthcare. During the year, the company contributed 2% of the net profit towards Corporate Social Responsibility (CSR) activities.
I would like to thank all our customers, suppliers and colleagues in India and abroad for their wholehearted support and valued contribution during 2015-16. Further, we have much to look forward to as we strive to make our company even stronger and continue to focus on delivering to our customers.
I am grateful to our independent directors who have given their contribution and share their valuable experience and knowledge of the management to take the company forward. I also take this opportunity to express my gratitude to all our stakeholders, who have reposed a trust in us and extended their constant support.