MUDRA LIFESTYLE LIMITED
ANNUAL REPORT 2010-2011
CHAIRMAN'S REPORT
Mudra Lifestyle is an integrated textile Company being managed by a highly
experienced management. Mudra has been working with renowned global textile
players providing them quality products and timely delivery at competitive
prices.
M/s. E Land Group has acquired majority stake in your company. E Land group
is a very renowned group of South Korea having annual turnover of more than
5 Billion US $ having their presence in Fashion, Retail, Leisure,
Construction and Food sectors and this group is having more than 8500
stores worldwide.
M/s. E land has big plans for your company which will make the products
supply of Mudra Lifestyle enhanced and stabilized and so Mudra Lifestyle
will get the benefit of huge institutional orders that the South Korea's
largest integrated textile and branded apparel company enjoys. E Land Group
will actively promote the operation and productivity of Mudra Life Style to
transform into a global textile company.
Our working experience with large global corporations, constant research in
fabrics designs and proven efforts demonstrate the consistency in quality
of our products.
Mudra Lifestyle is a multi products, multi fiber and multi market players
covering the entire textile value chain at length. With a target market
that is a diverse mix of the domestic market, institutional sales, garment
export trade and international market (exports) that ensure spread of risk
and stability of earning.
Over the last 12 months, we have focused on our business growth,
stabilization of fabric and garment production and implementation of mega
expansion project. I am happy to say that both phase of mega expansion were
completed during the year. Full benefit of this will come in next financial
year. During the year your Company added new Stenter and printing machine
and has also added 470 stitching machines.
However increase and very high price volatility in the raw material prices
reflected in the performance of the Company in last two quarters and also
in current year, we have to take into account the recent economic slowdown
globally, unabated inflation and the sharp rise in interest and
depreciation cost. Your Company is confident that with increased production
from enhanced capacities in weaving and garmenting and value addition due
to new capacity in processing, which is at par with any Indian Capacity and
with entry of M/s. E land in your company, should be able to pass through
this period.
At Mudra, we have geared ourselves to contribute towards this challenge and
take Indian Industry to an altogether new universe. I sincerely thank all
our shareholders, employees and valued customers for sharing our vision and
supporting us and foresee a continued support in our future endeavors in
wrapping the universe in comfort and style.
By order of the Board
For Mudra Lifestyle Limited
Place: Mumbai Murarilal Agarwal
Date : 23rd August, 2011. Chairman and Managing Director