From the Managing Director's Desk…
Dear Shareholders,
As I reflect on an exceptionally difficult year, one thing is clear we have all been
impacted by COVID-19. The cruelty of this pandemic has been unparalleled and my heart goes
out to all those who are grieving the passing of loved ones, to those who have lost their
job, and to business owners who have been forced to shut down. While it has been a tough
year for many and there are still immediate and pressing matters such as economic relief
and equitable and widespread vaccination rollout to address, I am hopeful that better days
are ahead.
Through all the challenges, I have deeply admired the resilience of my staff members,
colleagues, who demonstrated dedication and professionalism and kept the business moving
forward. I am also grateful to our customers and to you, our shareholders, for your
unwavering trust in the Company.
Corporate Profile:
The Company is in engage in to the business of manufacture of protective gears, these
gears are basically rain wears, winter wears and life jackets which are used in seas and
other water bodies for the safety.
The Company is also involved in trading of the protective's gears. The product range
includes Rainwear Coat,
Rain Jacket, Pulsar Jacket, Winter Jacket, River Raft Boat, Inflatable Boats Dinghy's,
Sleeping Bags, School Bags, Life jackets, Rucksack, facial's mask etc. The raw material
used to manufacture these protective gears is called Coated Fabric.
The manufacturing facility is located at Bhandup West Mumbai Maharashtra having a total
area of approximately 5190 sq. feet. This manufacturing unit is recognized for its
in-house quality Management.
The manufacturing process starts with procurement of coated fabrics and then the
process of cutting, stitching, sewing, inspection and packing of the final products is
been carried on.
Takeover of Billwin Industries through Business Transfer Agreement:
As shareholders must be aware that in year 2006, the promoters of the Company –
Mrs. Smita Dey formed a proprietary concern under the name and style of M/s. Billwin
Industries and a manufacturing unit was set up in Nahur. Later in the year 2014, Mrs.
Smita Dey and Mr. Subrata Dey incorporated a private limited company Billwin Waterproof
Private Limited.
In the year 2020, the Company through a Business Transfer Agreement (BTA), has acquired
the proprietor firm named Billwin Industries. The Business takeover has resulted into a
synergy effect which will provide an in organic business growth and would result in the
stable financial position of the Company in the coming future. This Acquisition would
provide strategy to build a sustainable and profitable business and synergies through
supply chain opportunities and operational improvements, go-to-market and distribution
network optimization, scale efficiencies in cost areas such as marketing, and optimization
of overlapping infrastructure.
It has been advantageous to combine the activities and operations of both proprietor
firm and Company into a single Company for synergistic linkages and the benefit of
combined financial resources. This will be reflected in the profitability of the Company.
This Takeover will also provide an opportunity to leverage combined assets and build a
stronger sustainable business and will enable optimal utilization of existing resources
and provide an opportunity to fully leverage strong assets, capabilities, experience,
expertise.
Other benefits that can been seen is increase in reserves, investments, goodwill,
manpower, finances, customers, distributors, brands etc. at its disposal for meeting its
requirements.
4 ANNUAL REPORT 2020-2021
Outlook:
In a world threatened by a third wave and variants of the original virus, it would be
insensitive to provide a financial guidance. At Billwin we are fairly positioned to tackle
the for the future, provided the Government and regulatory authorities coming out with
favorable steps/ enabling processes for the industry. I am optimistic that this complement
will empower us to bring a wider range of products that enhance our consumer centricity,
competitiveness and profitability. In today's uncertain environment, there can be no
bigger priority.
I once again thank you for your support and I sincerely look forward to your continued
support in the future as well. I also express my heartfelt thanks to my colleagues and
team at Billwin without whose active support, it would not have been possible to reach the
current stage.
Wising all of you a very good health and stay safe! Stay fit!.
| Thank You, |
| Subrata Dey |
| Managing Director |