Dear Stakeholders,
It is my privilege to present to you the Annual Report of your Company for FY 2023-24 a
reflection of the collective efforts and achievements of the past year and share the key
highlights and the strategic roadmap going forward This annual report is more than just a
compilation of financial figures; it is a testament to the hard work, resilience, and
dedication of every member of our team. Despite facing an array of challenges, we have
persevered and achieved remarkable milestones, setting new standards for ourselves and the
industry
This year has presented us with significant challenges. After a successful and
profitable year, we have faced unexpected difficulties that have affected our performance.
The decline in paper rates by over 30%, coupled with issues with some of our suppliers,
has put a strain on our operations and contributed to our current financial losses. I want
to assure you that we are acutely aware of these issues and their impact on our company.
The volatility in paper prices and the disruptions caused by supplier inconsistencies
have tested our resilience. Despite these hurdles, I want to emphasize that we are not
disheartened. Our team has been working tirelessly to address these issues head-on. We
have undertaken a comprehensive review of our supply chain, and strategic measures are
being implemented to stabilize and improve our operations.
In facing these challenges, we have also identified opportunities for growth and
improvement. We are focusing on enhancing our supplier relationships and exploring
alternative sourcing strategies to ensure greater reliability and cost-effectiveness.
Additionally, we are committed to innovation and efficiency within our operations to
better adapt to market fluctuations.
Looking ahead, we are optimistic about the future. We believe that the steps we are
taking today will pave the way for a stronger and more profitable year ahead. Our
commitment to excellence remains unwavering, and we are dedicated to restoring and
surpassing our previous levels of success.
As a Company, we have always strived to better our performance by continually deepening
our domain expertise, strengthening capabilities and expanding our product portfolio. I
would like to take this opportunity to thank all our people who have been tirelessly
working to ensure that we continue to serve the people of this country through this
extremely challenging year. Most importantly, I would like to thank you, our shareholders,
for your overwhelming trust, support, and confidence in G. K. P. Printing And Packaging
Limited. While celebrating our achievements, we also acknowledge that challenges lie
ahead. The business landscape is ever-changing, and we must remain agile and adaptable to
stay ahead of the curve. We recognize the importance of innovation, agility, and
resilience in shaping our future trajectory. As we look ahead, we reaffirm our commitment
to upholding the highest standards of corporate governance, transparency, and ethical
practices. We will continue to engage with our stakeholders and listen to your valuable
feedback to ensure that our decisions align with your expectations and interests. In
Conclusion, I would like to extend my sincerest gratitude to our employees, customers,
partners, business associates and our stakeholders for their undying faith and support.
Each one has been a part of our exciting and enriching journey. We continue to seek value
creation for our stakeholders and persevere in building a sustainable business. Here is
hoping for a brighter and stronger future together. Together, as a united team, we will
navigate the challenges and embrace the opportunities that lie ahead, building on the
strong foundation we have laid to steer our company to new heights of success. Thank you
for your continued support and belief in our company. Here's to a brighter and more
successful year ahead.
| Warm Regards. |
| Sincerely |
| Sd/- |
| Keval Goradia |
| Chairman |