(Efforts, not desires, lead to success)
GREETINGS, FELLOW STAKEHOLDERS,
It gives me great pleasure to present your Company's Annual Report for
the ?scal year FY 2022-23. Before I discuss our annual performance for the year, let me
?rst highlight the macroeconomic and industry landscape during theyear gone by.
Performance in the Financial Year 2022-23:
India continued to be one of the fastest growing major economies of the
world, despite economic volatility and high in?ationary pressure in many advanced
countries of the world, the Government of India's sustained focus on boosting the
manufacturing, services and infrastructure sectors and RBI's prudent monetary policy to
curb in?ation have resulted in robust economic growth in FY 2022- 23.
At Astron paper, we have ?rmly rooted ourselves in the Kraft Paper
and packaging space and aspire to continue our strong growth momentum over the next couple
of years and remain focused on growing operating and pro?tability margins. The government
initiative on plastic ban will increase the demand of Kraft papers & we are con?dent
that in upcoming period the demand for Kraft paper will be strong and increasing from new
applications like Groceries, E-commerce for packaging and shipping. The rapid growth of
e-commerce has further propelled the industry forward, as corrugated boxes and packaging
materials are essential for shipping
and delivery in the online retail sector. Factors such as population
growth, urbanization, and evolving consumer preferences have contributed to this rising
demand.
Corporate Governance:
Your Company aims to determine the ways to reach the most e?ective
strategic decisions. To ensure transparency, which in turn ensures a strong and balanced
economic development for the organization. Transparency also helps to keep the interest of
all shareholders safeguarded. As such, we are dedicated to upholding the highest standards
of Corporate Governance and are fully committed to complying with the regulations set by
the Securities and Exchange Board of India (SEBI).
Future Outlook:
As we look ahead to the next ?nancial year, we remain committed to
delivering exceptional value to our stakeholders and driving sustainable growth for our
company. In conclusion, I would like to express my sincere gratitude and appreciation to
the distinguished Board Members for their unwavering support and guidance and our
hardworking employees fortheircommitment and determination to carryout our activities
successfully.
Acknowledgment
I would also like to extend my hearfelt thanks to our valued customers,
suppliers, vendors, consultants, and investors for their trust and cooperation, which have
been instrumental in our success. I hope that the next ?nancial year will be a successful
one and expect this company to grow further with the trust and support of our esteemed
shareholders. On behalf ofthe Board of Directors and managementwe wish everyone a
successful future ahead.
With Best Compliments.
Kirit Patel Chairman & Managing Director