MANAGING DIRECTOR'S MESSAGE
Dear Shareholders,
It is my honor to present 32nd Annual Report of Bang Overseas Limited ("the
Company") for the Financial Year 2023-24. India's textiles sector is one of the
oldest industries in the Indian economy, dating back to several centuries.
Bang Overseas Limited is one of the leading manufacturers and exporters of men's wear,
established in 1992. With decades of experience, we have made a significant mark in the
apparel, textile, and retail markets, renowned for our commitment to quality and
innovation.
As your Managing Director, I wish to share a candid assessment of our performance, the
challenges we faced, and our strategic plans for the future.
Our Journey
Founded in 1992, Bang Overseas Limited started as a modest venture with a focus on
delivering high-quality fabrics to the Indian market. Over the years, we have expanded our
horizons, evolving into a comprehensive textile solutions provider. Our journey is marked
by continuous growth, diversification, and an unwavering dedication to customer
satisfaction.
Our Expertise
Our team is composed of seasoned professionals with extensive experience in the garment
manufacturing industry. This expertise, combined with our focus on quality, ensures that
every garment we produce is flawless and impeccable, earning acceptance and admiration
worldwide.
Performance and Challenges
This past financial year has been a challenging one for Bang Overseas Limited. Despite
our best efforts, we have faced significant hurdles, resulting in a financial loss for the
year. The global economic downturn, coupled with disruptions in supply chains and
fluctuating market demands, has impacted our operations and profitability. Although your
Company achieved a revenue of Rs. 13,366.95 Lakh compared to Rs. 12,242.92 Lakh in the
previous year, we suffered a loss of Rs. 720.04 Lakh.
Challenges are inherent in any business, and it is during these times that our
resilience and determination are truly tested. While the financial results are
disappointing, they have provided us with valuable lessons and insights that will guide
our future strategies.
Commitment to Quality and Innovation
Our commitment to quality and innovation remains steadfast. Even in these difficult
times, we have continued to invest in research and development, ensuring that our products
meet the highest standards of quality and align with the latest fashion trends. Our design
team has been relentless in their efforts to create contemporary and appealing
collections, reinforcing our reputation for excellence in men's fashion. We expect FY
2024-25 to be marked as a strong foundation for our future growth.
The governance principles of your Company comprises but are not limited to doing the
right things, maintain highest level of integrity, discipline, long-term and sustainable
approach, controlled growth, aided by competent Board of Directors, and a process-driven
approach.
Acknowledgements
Despite the current challenges, I am optimistic about our future. We have a strong
foundation, a dedicated team, and a loyal customer base that will support us in our
recovery and growth journey. Together, we will overcome these challenges and emerge
stronger, continuing to create value for all our stakeholders.
In conclusion, I would like to express my sincere gratitude to our shareholders,
customers, employees, and business associates for their unwavering support and trust in
Bang Overseas Limited. I thank all the Board Members for their ongoing support and
bringing in expertise to drive the Company's success. I would like to thank my Employees
who have been our pillars of success in every sense, helping the Company to reach newer
heights and enabling us to deliver on the expectation of customers and all stakeholders.
We look ahead to better times and seek the sustained support of all stakeholders to
unlock greater value creation. I remain dedicated to our continued success and eagerly
look forward to working with each one of you to take Bang Overseas Limited to greater
heights.
Thank you for your continuous support to Bang Overseas Limited!
With Best Wishes,
Yours sincerely,
Brijgopal Bang
Managing Director