" Connecting Businesses with Boundless Possibilities"
Dear Members,
It gives me immense pleasure and enthusiasm that I connect with you
through the journey of SKY for the FY 2023-2024. This year holds signi cant importance as
we celebrate 35 years of dedicated service, providing premium quality Hook and Loop Tape
fasteners. Despite encountering numerous challenges along the way, our unwavering
commitment and steadfast determination have propelled us forward, allowing us to thrive in
a competitive environment. Expanding our reach across borders, we've earned acclaim on
both domestic and international fronts.
Our dynamic and seasoned Board of Directors, representing diverse
sectors such as Production, Sales & Marketing, Legal, and Finance & Accounting,
coupled with our pro cient management team, versed in Research & Development, Export
Markets, Production, and Quality Control, equips us to embrace forthcoming growth
prospects with con dence. This synergy underscores our unwavering dedication to excellence
and innovation.
As Sky celebrates 35 glorious years in the industry, we are proud to
announce our continued strong performance driven by strategic e orts and operational e
ciencies, resulting in substantial growth across key nancial metrics. For the Financial
Year 2023-2024, our total income reached 83.98 Cr, marking a steady year-on-year growth of
11.62%. Annual EBITDA surged by 62.13% to 9.13 Cr, with the EBITDA margin improving to
10.87%. Net pro t for the year stood at 4.67 Cr, showcasing a remarkable year-on-year
growth of 163.92%, and the net pro t margin improved to 5.57%. Furthermore, our annual EPS
rose to 5.97, re ecting a robust year-on-year growth of 164.16%. These achievements
underscore our commitment to excellence and sustainable growth.
Our aim is to expand our market share, as we are strategically
advancing towards this goal by scaling up production, cost rationalization and boosting
visibility. We've amalgamated traditional marketing methods with contemporary approaches,
leveraging social media, digital marketing, and embracing e-commerce. We extend our
heartfelt gratitude to our exceptional team members, partners, suppliers, investors,
bankers, and stakeholders, whose unwavering trust and support have been the bedrock of our
journey. Together, we stand poised to embrace the boundless opportunities that await us.
| Warm Regards, |
| Shailesh S Shah |
| Managing Director |