During the year, the world continued on a path to regain economic
stability as it emerged from the global meltdown of 2008. Inflation
has, however, now emerged as the new global economic challenge, driven
by a substantial rise in the prices of almost all commodities, mineral
resources and energy, impacting almost all industrial sectors.
However, even in this adverse environment your company has been able to
deliver exemplary performance. Mayur Uniquoters Limited establishes a
new record and achieved another milestone with net sales turnover of Rs
380 crores. We were helped by the progressive policies of the
government which provided stimulus for growth. However, our performance
would not have been possible without the unwavering confidence and
trust the market displayed in the product manufactured by the Company.
It is the spirit of can do, shall do which takes Mayur where it stands
today. The Company works as a single team, there is no distinction
between management and workers when it comes to furthering the interest
of the Company.
The Company is focusing on new programs fit for market solutions which
has enabled to increase the market share. After making marquee names
like Ford (USA), Chrysler (USA), Maruti Suzuki, VKC Group, Mayur is on
the verge of adding Mercedes (Germany) and GM (USA) in its client list.
To Increase our market share, we are not only increasing our
manufacturing capacity but also remaining very much aware of changing
customer taste and demands and becoming flexible in making quick
adjustments . Export front has been a key driver for the growth. We
have build strong capabilities to tap the emerging opportunities in the
overseas market. Expansion of the existing market and foray into new
geographies will continue to drive the growth of exports, to meet that
demand which will soon come. Fortunately our cash reserves will allow
us do so, without the risk of leverage. Moreover we will develop our
own capacity to develop designs. This is a priority for us and we are
investing heavily on it. Your Company has also gone for backward
integration with the setting up of a Knitted fabric unit at Dodhsar
approx 20 KM from the present unit. Couple of Month''s before, we
celebrated the launch of our newly established fully automated
production capacity of Knitted fabric at the Dodhsar Plant. With state
of the art knitting machines from Terrot and Mayer & CIE Germany,
interlocking Knitting Machine from Fukuhara, Japan and a brand new
Stenter from Bruckner, Germany, the plant is housed in the building of
75000 sq feet. This will result in the increase of margins due the
reduction of rejections.
At the same premises, the company is in the process of installing the
5th Coating Line. Construction is in full swing and production is
expected to commence by November 2013. This will result in an increase
in capacity by 6,00,000 linear meter per month increasing the total
capacity to 2.5 million linear meter per month.
Corporate sustainability has become a global agenda. Recognizing that
climate change and exploitation of nature poses a global threat to the
economic growth, the company has revisited its sustainability
initiatives. The management team has reviewed their focus on conserving
natural resources like water, energy and alternate fuel while
safeguarding the health and safety of the peoples and caring for
The quality, drive and expertise of our employees are second to none.
With their dedication and encouragement and support, I am confidendt
that Mayur will continue to achieve many such years of exceptional
progress. I Would like to take this opportunity to thank all of our
employees, associates, suppliers, distributors , shareholders, bankers
i.e Canara Bank, IDBI Bank, Andhra Bank, ICICI Bank, Yes Bank, Citi
Bank N.a. State Bank of Bikaner and Jaipur for being an integral part
of this journey.
I look forward to your continued support.
Suresh Kumar Poddar
Chairman and Managing Director & CEO
Jaitpura (Jaipur) 16th July, 2013