It takes immense pleasure by sharing with you about the performance of your company and presents the Annual Report for the financial year 2017-18. We would like to state that your company is progressing to achieve new milestones in its journey towards growth through total excellence.
It has been a year with many rewarding moments as well as some challenges even though we made solid progress on many fronts including building out strategic platforms while establishing existing one.
At LIBAS we assure our customers an unbeatable an unmatchable value in the process of fabrication. Even while other business in our sector all over India is facing challenging time in the financial year 2017-18 we witnessed some positive upturns in our business.
As Mr. John Galliono Says THE JOY OF DRESSING IS AN ART”. I believe that in today''s era everyone believes in that quote accordingly the customer in this sector becoming highly aware and selective in their buying decisions.
During the previous financial year our company achieved many of the achievements like:
- In an event of Asia''s Most Trusted Brands Awards, 2016, the Company has received award of Asia''s Most Trusted Brand, 2016.
- Your Company becomes the member of The Clothing Manufacturers Association of India (CMAI).
- Your Company had participated in the event of India International Fashion Jewellery& Fashion Show (IIFJAS).
- LIBAS had been selected as Best Brand in the Premium addition of The Economic Times for Best Brands.
- Your Company had participated in Bombay times Fashion Week held on 09th September, 2017 at Sahara Star, Opp. Chhatrapati Shivaji Airport terminal 1 (Domestic), Vile parle, Mumbai.
- Your Company had company has started its new showroom at 50, Hajratganj, Lucknow -226001, Uttar Pradesh on Tuesday, 21st November, 2017.
- Your Company has started its new mega store at R City Mall located at Store No. S-61,2nd Floor, North Wing, LBS Marg, Ghatkopar (West), Mumbai-400086.
- The Company has started its new showroom at South-extension, Delhi.
- Our total revenues for the year were Rs. 44,81,68,263/- as compared to Rs.24,25,46,439/-in the previous year.
- Our EBIDTA for the year was Rs.40,744,584/-against Rs.1,61,61,438/- in the previous year.
- Our net profit after tax for the year was Rs. 2,91,10,806/-against Rs.1,03,83,363/- in the previous year.
At LIBAS we believe this is just the beginning. We have ambitious plans to open more showrooms all over India. We are committed to our customers. When customers buy anything from our store they built a relationship with those who build trust, they shape their dreams with those who have the expertise.
On behalf of the Board of Directors, I thank our customers, investors, suppliers, partners and especially our people, for making LIBAS a leading name in fashion Design industry.
Nishant Mitrasen Mahimtura