In the past few years, the denim market has witnessed a dynamic environment. The rapid pace of evolution in the denim market has led to an increased focus on innovation and re-invention. Our thought-driven strategies and long-term vision have enabled us to lead this market revolution and strengthen our business model. The domestic and international denim markets are witnessing a brisk demand upsurge in recent years due to increased adoption of denim from the new generation, especially youth. This demand growth has helped us gain higher penetration in the domestic markets, thereby reinforcing confidence in the quality of our products.
Over the past couple of years, we have generated higher revenue from operations on the back of our expansion and modernization plans. During the year, we also initiated various cost-containment measures which have started to bear fruits. Both, operating and net profit have improved over the past year. Our passion for excellence and core competencies have helped us emerge stronger in a volatile economic environment.
In our consistent quest for success, we have taken necessary steps for the modernization and up-gradation of some of our machinery. Led by our modernization initiative, we have increased our manufacturing capacity from 15MMPA to 18MMPA. Additionally, we have inducted high-performance machinery which have been systematically conceptualized to save energy cost and increase productivity, with improved ease of use. These efforts have enhanced our operational efficiency and strengthened our core competencies.
Our marketing team consistently receives inputs about the latest trends and fashion in the marketplace. This feedback process helps our experienced team of fabric designers and development engineers to manufacture new and varied products suiting the requirements of customers. Backed by robust processing prowess and a deep understanding of consumer tastes and preferences, we have been able to create innovative product segments.
We recognize the need to conduct ethical behaviour while dealing with our stakeholders. We also ensure that all our employees are being treated fairly and equally. Additionally, we maintain the highest safety standards to provide a risk-free work environment to our staff.
The expected growth in demand will give us an opportunity to leverage our core competencies for maximizing stakeholder wealth. With state-of-the-art manufacturing capabilities and a visionary management team, we are confident to reach new heights of success in the coming years. We would like to thank our shareholders for their trust in our capabilities and look forward to their continued support and guidance in exploring this enticing growth journey.
Mr. Anand Arya Chairman