Chairmain's Message
(Efforts, not desires, lead to success)
GREETINGS, FELLOW STAKEHOLDER,
It gives me great pleasure to present your Company's Annual Report for the fiscal year FY 2022-23. Before I discuss our annual performance for the year, let me first highlight the macroeconomic and industry landscape during the year gone by.
Performance in the Financial Year 2022-23:
India continued to be one of the fastest growing major economies of the world, despite economic volatility and high inflationary pressure in many advanced countries of the world, the Government of India's sustained focus on boosting the manufacturing, services and infrastructure sectors and RBI's prudent monetary policy to curb inflation have resulted in robust economic growth in FY 2022- 23.
At Astron paper,
we have firmly rooted ourselves in the Kraft Paper and packaging space and aspire to continue our strong growth momentum over the next couple of years and remain focused on growing operating and profitability margins. The government initiative on plastic ban will increase the demand of Kraft papers & we are confident that in upcoming period the demand for Kraft paper will be strong and increasing from new applications like Groceries, E-commerce for packaging and shipping. The rapid growth of e-commerce has further propelled the industry forward, as corrugated boxes and packaging materials are essential for shipping and delivery in the online retail sector. Factors such as population growth, urbanization, and evolving consumer preferences have contributed to this rising demand.
Corporate Governance:
Your Company aims to determine the ways to reach the most effective strategic decisions. To ensure transparency, which in turn ensures a strong and balanced economic development for the organization. Transparency also helps to keep the interest of all shareholders safeguarded. As such, we are dedicated to upholding the highest standards of Corporate Governance and are fully commited to complying with the regulations set by the Securities and Exchange Board of India (SEBI).
Future Outlook:
As we look ahead to the next financial year, we remain commited to delivering exceptional value to our stakeholders and driving sustainable growth for our company. In conclusion, I would like to express my sincere gratitude and appreciation to the distinguished Board Members for their unwavering support and guidance and our hardworking employees for their commitment and determination to carry out our activities successfully.
Acknowledgment
I would also like to extend my heartfelt thanks to our valued customers, suppliers, vendors, consultants, and investors for their trust and cooperation, which have been instrumental in our success. I hope that the next financial year will be a successful one and expect this company to grow further with the trust and support of our esteemed shareholders. On behalf of the Board of Directors and management we wish everyone a successful future ahead.
With Best Compliments.
Kirit Patel Chairman and Managing Director