Dear Shareholders,
It is my privilege to report the Annual results for the F.Y. 2023-2024.
I am happy to state that in this financial year, the Company has continued its better
performance both in terms of turnover and profit. Although there was slowdown in third
quarter, but the profit and turnover both increased during the year in comparison to
previous year due to continuous support by US based big Customer Chain Stores. In
Internation Market, the Export of Handicrafts, Gl products and other related items has
been decreased during the year by 4% in comparison to previous year, whereas your
company's turnover has increased by 4.64% of these products as compared to previous year.
The Profit after Tax has also increased by 8.15% as compared to the corresponding period
of the previous year.
Your company is still leading Exporter of Glass Beads. Handicrafts and its related
items and has the biggest market in the US for its products. The company procures its
order mainly by participating in international fares, personal meeting with Foreign Buyers
and getting order through online meetings with Buyers by showing newly developed items.
Your company is not only focused in International Market, but also expanding its
business in indigenous and retail segment under the Trade name "de-Lemon"
through Retail Counters, stores and new online system at various facilities available at
online platform.
We proudly inform you the: the company has been awarded as:
- “Leading 75th MSMEs from Uttar Pradesh Certificate of Felicitation" given
by ASSOCHAM. The said award was given by the Hon'ble Minister of MSME of UP Government in
June. 2023.
- "Northern Region Export Excellence Award - Gold Trophy for outstanding export
performance in the category of multi product-MSME by Federation of Indian Export
Organizations in August. 2023. The said award was given by Mr. Piyush Goyel, Hon'ble
Commerce and Industry Minister of Government of India.
The company expects that its turnover and profitability both increasing trends will be
continued in coming periods. The Company is not expecting any problem in its ability to
service debts and other financial arrangement, keeping in view of good liquidity position.
During the year the shares of your company wore being traded in BSE and NSE between Rs.
119.00 to Rs 80.25 against book value of around Rs. 81.73/-. The board has recommended an
Interim dividend of Rs. 2.00/- per share for this financial year.
The company expansion plan for logistic parks, warehouses are still under process with
its Varanasi Development Authority and /U P Government.
I want to record my appreciation for co-operation and support provided by the
directors, auditors, buyers, suppliers, bankers, artisans, employees and associates of the
company in every field of your Company's activities.
With best wishes to all.
Ashok Kumar Gupta
Chairman & Managing Director