Esteemed Shareholders…
Mr. Nitinbhai Patel Chairman & Managing Director
As the founder of Axita Cotton, I am proud of our continued innovation and growth,
driving excellence in every fiber of our business.
As we reflect on the milestones achieved in the financial year 2023-2024, it is with
great pride that I share with you the summary of our progress. Operating as a key player
in the nationwide trading and international export of cotton bales, yarn, and essential
raw materials for the textile industry, we have navigated the year with the unparalleled
dedication of our key managerial persons, employees, and invaluable external stakeholders.
During this transformative year, pivotal steps were taken with resounding success.
Initiatives such as the Buyback Offer in May 2023, underscoring our commitment to
enhancing shareholder value and demonstrating our confidence in the organization's
financial prowess, the distribution of an interim dividend in November 2023 to our
esteemed shareholders, recognizing their trust and support in our endeavours and the
issuance of Bonus Shares in December 2023, a gesture of appreciation for their continued
loyalty and trust in our Company. This underscores our commitment to driving value
creation. Notably, the introduction of an Employee Stock Ownership Plan (ESOP) Scheme,
extending benefits to our dedicated employees within the Company and its Group Companies.
This initiative reinforces our commitment to employee welfare, encourages ownership, and
fosters a culture of dedication and mutual success among our workforce. Moreover,
commencing the year with the declaration of a final dividend and strategic investment in a
sports and media Company in June 2024, signalling a bold move towards unprecedented growth
and diversification and expansion into new sectors, a vision passionately endorsed by our
Promoters.
This report encapsulates a year of growth, symbolizing the convergence of your
unwavering confidence and our shared pursuit of excellence.
I extend our heartfelt gratitude to our employees, customers, partners, and investors
for their unwavering support and pivotal contributions to our collective journey. Your
steadfast faith in Axita Cotton thrusts us forward towards even greater accomplishments.
As we stand at the threshold of the future, our commitment to delivering value to you,
our esteemed stakeholders, remains steadfast and resolute. The unwavering dedication of
our team ensures that the horizon of possibilities for our Company is limitless, promising
sustained value and growth.
Mr. Nitinbhai Patel
Chairman & Managing Director