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companylogoManomay Tex India Ltd

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BSE Code : 540396 | NSE Symbol : MANOMAY | ISIN : INE784W01015 | Industry : Textiles - Products |


Chairman's Speech

1 "Growing Stronger to Care Better"

In our journey towards growth and weaving a better future, our endeavor is to combine our expertise and capabilities to enter new territories and industries. We aim to seize opportunities that drive revenue growth, enable us to expand to other geographies, and strengthen our position in the Indian and global textile market.

Dear Shareholders,

I am honored to present the Annual Report of Manomay Tex India Limited. I hope this message finds you and your loved ones in good health and high spirits.

Since our inception in 2009, Manomay Tex India Limited has established itself as a leading producer and manufacturer of denim products. Our journey has been marked by relentless pursuit of excellence, driven by a team of highly qualified and dedicated professionals. We continuously strive to improve, innovate, and set new standards in the industry.

Our unique product portfolio, deep expertise in material selection, and unwavering commitment to customer-focused innovation enable us to deliver textile solutions that are sustainable by design. We recognize that market demands are ever- evolving, and our expert management team is always ready to adapt to these changes, leveraging cutting-edge technology to better serve our clients.

Our financial performance is a testament to our resilience and growth. Our strong product portfolio has allowed us to expand our business and connect with consumers across various markets and business segments. The optimal use of capacity and a focus on cost efficiency have also contributed to our success.

As we look to the future, our focus remains on long-term growth, which is the ultimate measure of value creation. To achieve this, we will continue to strengthen our competitive advantages, maintain disciplined capital allocation, and stay committed to improving efficiencies.

We also recoanize the importance of our communities and the environment. We

place great value on both and are actively engaged in various CSR initiatives, driven by our deep sense of societal responsibility. These efforts help us address all aspects of society comprehensively and establish a robust governance framework to ensure accountability and effectiveness.

Performance of the company in the FY 2023-24

Reflecting on the past year, I am pleased to report that it has been a highly successful and profitable period for Manomay Tex India Limited.

Our Revenue from Business Operations stood at Rs. 5,83,09,12,178, compared to Rs. 698,87,88,485 in the previous fiscal year. The company recorded a Profit of Rs. 13,00,32,746, an improvement from Rs. 12,95,04,048 in the previous year. Our directors are optimistic about the prospects for even better performance in the years ahead.

Pursuing Sustainability

We are deeply committed to fostering sustainable growth that aligns with the wellbeing of our community and the environment. In textile production, we prioritize methods that minimize water and electricity usage, reflecting our commitment to sustainability.

We recognize that addressing issues such as climate change and sustainability is crucial to our long-term success. Consequently, we will intensify our investments in sustainability strategies aimed at reducing our carbon footprint.

Gratitude to All

This year has been a significant one for Manomay Tex India Limited, and I would like to express my heartfelt gratitude to our employees, customers, shareholders, suppliers, bankers, financial institutions, State and central governments, and business partners for their unwavering support. The trust you place in us is invaluable, and I am proud of the progress we have made. We are confident in our ability to build on this momentum and continue on the path of success.

Thank you for your continued trust and support.

Regards,

Mr. Kailashchandra Hiralal Laddha Chairman

   

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