Dear Shareholders,
It is an honor to address you in the 14th year since our formation and present the
Annual Report for the Financial Year 2023-24. Seeing the joy and smiles our business
brings to people across India strengthens our conviction in the meaningful work we are
doing.
The past year has been both challenging and rewarding for our company. Despite the
economic uncertainties and market fluctuations, we have achieved significant milestones.
Our commitment to quality, innovation and customer satisfaction has remained unwavering,
driving our continued success in the competitive bakery industry.
It gives me immense pleasure to present to you the performance of our Company for the
financial year 2023-24. We achieved a turnover of Rs. 2630.38 Lakhs, reflecting the
dedication and hard work of our entire team. However, it is important to acknowledge that
this year has not been without its difficulties. The challenges we faced had a significant
impact on our financials, leading to a loss of Rs. 88.04 Lakhs. This outcome, while not
what we had hoped for, serves as a reminder of the volatile nature of the market and the
importance of strategic planning and execution
Starting from the Financial Year 2022-23, the Company transitioned from
employee-operated stores to an Operator model. Under this arrangement, Operators are
responsible for managing the allocated outlets. This approach not only streamlines
operations but also optimizes resource allocation, driving sustained growth and
profitability for the Com- pany.This model offers several advantages, such as :
• flexible commitments,
• variable remuneration based on performance, productivity and efficiency,
• fostering creativity in marketing strategies, promoting innovative approaches to
enhance the Company's brand,
• Improving financial outcomes, demonstrating its effectiveness in boosting
revenue,
• Reducing recruitment expenses and time, ultimately leading to increased revenue
etc.
Based on successful results, the Company has extended the Operator Model into the next
financial year 2023-24, ensuring continued benefits.
Due to our dedication to investing in product development, we've experienced a
significant surge in sales across various categories, including ice cream, ready-to-eat
food, beverages, chocolates, chips, cookies, snacks and more. This commitment not only
enhances our presence in current markets but also enables us to venture into new product
categories, resulting in notable growth in trade items sales.
In the fiscal year 2022-23, our Company introduced a new category of products,
including Veg. Puff, Jain Puff, and Paneer Puff, priced at just Rs. 15/-, Rs. 15/-, and
Rs. 25/- respectively. This addition has significantly enhanced our savory items
portfolio, capturing the public's imagination with its affordability and highest quality
standards.Building on the success of our various sandwich offerings, which were initially
launched in select stores, we have now expanded these products across all our outlets due
to their high demand. These affordable and ready-to-eat products are aimed at increasing
our loyal customer base and attracting more students.
As we move into the 2023-24 fiscal year, our primary goals remain focused on expanding
our product range, enhancing customer satisfaction and fostering customer loyalty. We
continue to innovate and offer high-quality products at competitive prices, ensuring that
our offerings meet the diverse needs of our customer base.
Customers can effortlessly connect with us through leading online delivery platforms
like Zomato, Swiggy, and Bigbas- ket. Additionally, we've launched our own dedicated
website to streamline the online ordering and delivery process, ensuring easy access to
our stores with just a click.
Looking ahead, we remain focused on our strategic priorities. We will continue to
invest in innovation and product development to meet the evolving needs of our customers.
Our commitment to sustainability will remain at the forefront of our operations.
The Company remains vigilant in identifying emerging opportunities, focusing on
enhancing brand strength through product innovation and expanded market presence. As the
industry continues to grow, we face unique challenges, notably the need to expand
production capacity to meet evolving market demands. The Company continues to pursue
business excellence through dedication, perseveranceand a commitment to delivering
unparalleled value to our customers.
I would also like to take this opportunity to recognize the invaluable contributions of
our employees. Their passion, creativity and dedication are the driving force behind our
success. We are committed to fostering a culture of inclusivi- ty, diversity and
empowerment within our organization.
I would like to extend my gratitude to all our the Government and Semi-Government
Authorities, shareholders, partners, customers, Bankers, Business Associatesfor their
unwavering support and dedication. Your trust and commitment have been instrumental in our
journey toward growth and sustainability.
I am confident that we are well-positioned for continued growth and success in the
years ahead.
Thank you once again for your continued support and trust throughout the journey of
Dangee Dums Limited (DDL), Gujarat's one of the leading Corporate in Cake and Bakery
Sector. Together, we will build a brighter future.
Nikul Jagdishchandra Patel
Chairman & Managing Director