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R&B Denims Ltd.

BSE: 538119 Sector: Industrials
NSE: N.A. ISIN Code: INE012Q01013
BSE 00:00 | 09 Apr 2020 R&B Denims Ltd
NSE 05:30 | 01 Jan 1970 R&B Denims Ltd

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OPEN 31.70
PREVIOUS CLOSE 31.70
VOLUME 61
52-Week high 46.35
52-Week low 19.20
P/E 11.61
Mkt Cap.(Rs cr) 44
Buy Price 31.30
Buy Qty 1.00
Sell Price 32.15
Sell Qty 100.00
OPEN 31.70
CLOSE 31.70
VOLUME 61
52-Week high 46.35
52-Week low 19.20
P/E 11.61
Mkt Cap.(Rs cr) 44
Buy Price 31.30
Buy Qty 1.00
Sell Price 32.15
Sell Qty 100.00

R&B Denims Ltd. (RBDENIMS) - Chairman Speech


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Company chairman speech

Dear Stake holders

I feel immense pleasure in presenting this annual report for the financial year 2017-18of your company and inform you that we have again delivered commendable performancesduring the year conquering the odds. The company is continuously striving with aconsistent quest for providing complete denim solutions by new product development anddeep understanding of consumer preferences in the coming years.

The company has improved its financial performance and generated profit of Rs. 702.21Lakhs covering the loss of corresponding previous year and recorded higher PAT of Rs.588.36 Lakhs during the year under review. The company has also imported and installedmachinery in RB Industries in which the company is a partner which has highly assistedin cost of reduction in the manufacturing process. The focus of the Company for the yearunder review has also been to invest in upgrading its facilities and to add balancingequipment which would result in either increasing throughputs and/or reducing the cost ofproduction.

The company have maintained the highest safety standards and relentlessly strived toimprove energy efficiency and minimise operating and maintenance costs. We have ensuredadoption of latest developments in technology to improve asset reliability and avoidunplanned outages thereby enabling high on-stream factor.

The textile and apparel sector is a key contributor to Indian economy and among othertextiles sectors the denim segment has always been one of the leading segments in theapparel industry. Its contribution to the country's GDP and exports is 6% and 13%respectively which has always been praiseworthy. Denim fabric manufacturing is considereda sunrise industry in the entire textile value chain of India. As per Indian TextileMagazine on January 12 2018- Over the last decade the Denim industry was registeringa 15% CAGR. Currently the industry has an annual installed capacity of 1.5 billionmeters which is the world's second largest after China. Its sales turnover is estimatedat Rs. 15000 crores. The Indian fashion retail market is continuously evolving and isexpected to perform at a high Compound Annual Growth Rate (CAGR) of 9.7 per cent to reachUS $115.14 billion by 2026. The current domestic consumption of Indian denim fabric is750-800 million meters growing at an annual rate of 12%.

GST on textile has brought a significant change in the input tax credit system and hascreated an important balance between organized and unorganized sectors of the industry. Infact GST has helped the entire textile industry in shifting towards an organized sector.Apparently the GST has helped in improving the cost-competitiveness as it is levied onlyat point of sale and not at the point of purchase and manufacturing.

Hence the consumer will be bearing only the GST charged by the last dealer in thesupply chain thus simultaneously making it cheaper for the customer and increasing theprofitability of the business.

The company firmly believes in the philosophy of "Quality First" giving toppriority to the needs of the customers and strives to earn profits through customersatisfaction. Change and adaptability is the key to success in the ever evolving textileand apparel market globally. Innovation always excites us and we continue to experimentwith new products technologies and business models. I am confident that if we are able toadapt to the changing market the future will be extremely rewarding for all ourstakeholders. The company has also voluntarily adopted the IndAs (Indian AccountingStandards) for maintaining financial records of the company so that the stakeholders ofthe company get the better idea of the functioning of the company.

I would like to take this opportunity to thank my colleagues for their dedicationinnovation and hard work. By creating new benchmarks in the business our team isgenerating sustainable value for our stakeholders and the nation. I therefore place onrecord my sincere appreciation to the Board of Directors for their guidance. I would alsolike to express my gratitude to all our stakeholders bankers employees suppliersassociates and our loyal customers for their continuing support and faith in us. I lookforward to an exciting journey ahead together.

Thank you for your support

Yours Faithfully

Sd/-

Rajkumar Mangilal Borana

Chairman & Managing Director


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