I am pleased to share with you an update on your company's
performance for 2022-23. I am presenting the 43rd Annual Report of KG Petrochem Limited
reflecting on our accomplishments during the financial year 2022-23.
Financial Year 2022-23, a year that has brought both challenges and
opportunities to our esteemed textile business. As we reflect on the past year, it is
evident that our company's resilience, strategic focus, and commitment to excellence have
been the cornerstones of our success.
The global textile industry experienced a dynamic and evolving
landscape during the financial year. Our main export market, viz. USA is facing inflation
resulting in subdued demand for our products. In addition to this on account of increase
in input cost of raw material and finance cost, Company's Net Profit has declined.
Considering the USA market scenario, company has been able to deliver satisfactorily
financial results. While the ongoing pandemic continued to pose challenges, it also
underscored the importance of adaptability and innovation. I am proud to state that our
company not only weathered these challenges but emerged stronger due to our unwavering
dedication and collective efforts.
One of the highlights of this financial year was our emphasis on
sustainability and responsible business practices. We recognized the imperative to
minimize our environmental footprint and implemented various initiatives to promote
sustainable sourcing, reduce waste, and conserve energy. Our efforts in this regard have
not only demonstrated our commitment to a greener future but have also resonated
positively with our environmentally conscious stakeholders.
The financial year 2022-23 also saw us investing significantly in our
human capital. Our employees, with their dedication and expertise, have been the driving
force behind our achievements. We continue to foster a culture of learning, collaboration,
and inclusivity, ensuring that our workforce remains our most valuable asset.
Financially, I am pleased to report that despite the uncertainties
posed by the global environment, our company maintained a steady growth trajectory. Our
prudent financial management, coupled with our strategic investments, has yielded positive
results, ensuring sustainable value creation for our shareholders.
Looking ahead, we remain cautiously optimistic about the future. While
challenges persist, we are confident that our strategic vision and commitment to
innovation will enable us to navigate these challenges successfully. We will continue to
embrace change, adapt to evolving market dynamics, and uphold the values that have been
the cornerstone of our company's journey.
In closing, I extend my heartfelt gratitude to our shareholders,
customers, employees, bankers and all stakeholders for their unwavering support. Together,
we have achieved remarkable milestones, and together, we will build an even brighter
future for our textile business.
With Warm Regards,
Gauri Shanker Kandoi
Chairman cum Whole-Time Director
DIN: 00120330
Jaipur, August 19,2023