Annual Report 1999-2000
Amit Spinning Industries Limited
Chairman's Statement
Dear Shareholder Friends,
It's indeed measure to communicate to you through this letter in
continuation of the trend started by Amit Spinning Industries Ltd. (ASIL)
for last two years. I am hay to congratulate one and all at ASIL as they
reach the 6th year of operations in the year 2000, and on declaration of
maiden dividend.
The Indian Cotton Textile Industry has a1ways been with us and downs and
has been going through the difficult phase for last few years. ASIL has not
only successfully survived during this period but also made mark in the
export market through its quality and consistency. Having started as a
small player with unknown brand ASIL has come a long way. Its ability to
perform in difficult industry has been achieved largely due to the people
who have made possible delivery of quality products.
ASIL has now developed its base and is expanding and focusing on value
added areas. Increase in competition normally result in decline in the
margin on per unit of sale. For a growing company this need not necessarily
result in overall reduction of profit which has been demonstrated by ASIL
with its consistent growth.
It has however, yet to fulfill the promise of a high value addition and
value creation. Some steps are initiated in this direction. I am sure with
a dedicated, young and charged up team in place, the company is all set to
change its LEAGUE and remap the horizons of business in years to come.
K.K. Sheth
Chairman
Place : Mumbai
Date : 26/06/2000