Dear Members,
I have great pleasure to welcome you all to this 40th Annual
General Meeting of your Company ‘SVP Global Textiles Limited?. Since inception,
we have been working with commitment and dedication that led the Company to become one of
the largest manufacturers in the yarn industry in India.
During the year, your Company has achieved consolidated turnover of
Rs.1778.38 Crores and PAT of Rs.71.29 Crores despite impact of Covid-19 and taking longer
time to ease.
SVP is one of the largest manufacturers of value added Combed Compact
Cotton Yarn with state of the art cutting-edge manufacturing facilities of 4,00,000
spindles and 5900 rotors. The Units are the most automated and technologically advanced
units of its kind and manufactures the highest quality of cotton yarn in the world today.
The Covid-19 pandemic has impacted Global and Indian economy heavily in
historic proportions and the Indian textile sector is no exception owing to unprecedented
challenges triggered by the extraordinary pandemic crisis. Though the FY 2021-22 started
as a promising year, it quickly turned again into difficult one since the impact of
pandemic has not subsided and continued to pose challenges. Added to this, abnormal
increase in cotton price without corresponding increase in yarn price proved FY 2021-22
also a difficult year. Slowly, the Yarn Business is now started showing signs of recovery
in view of price corrections with increasing demand in domestic and export markets. We are
well poised to take advantage of the opportunities and continue to drive with focused and
futuristic initiatives.
I applaud the team, families and all stake holders who responded to the
unprecedented challenges with courage and boldness. We are hopeful that SVP will sail
through the period with all its strength leveraging on its core strength of SVP Brand,
product quality, expansive channel network across the Country.
I offer my sincere thanks to all the Employees, Shareholders,
Stakeholders, Government Agencies, Banks & Financial Institutions, Customers,
Consumers, Suppliers and other Services Agencies for their cooperation and support.
| Sd/- |
| Chirag Pittie |
| Chairman |
| DIN: 00117368 |