About
H P Cotton Textile Mills Ltd
Promoted as a joint venture in association with the Haryana State Industrial Development Corporation, HP Cotton Textile Mills Limited
is a leading manufacturer of cotton specialty yarns and cotton sewing threads catering to both local and export markets. The Company
manufactures cotton sewing thread, hosiery yarn and industrial yarn of different colours for sewing, weaving carpets and canvas belting, filter cloth, tarpaulins, taper, fishing nets, canvas cloth and industrial ropes. It has a sewing- thread-cum-spinning mill.
Balancing equipment was added to the thread division in 1992-93 to improve the product mix and range of products. The products marketed under the Dora brand, besides being sold under DGS and D-rate contract to the defence sector, fertiliser units and tyre manufacturers, are also exported to Germany, Lebanon, Bangladesh, Hong Kong, etc.
HP Cotton undertook a backward-cum-forward-integration project to increase the thread manufacturing capacity by around 80%. It is following the total quality management concept to obtain the ISO 9000 certification.
H P Cotton Textile Mills Ltd
Chairman Speech
Dear Shareholders,
The year gone by was one of the most difficult and challenging ones that many of us
have faced, and it has impacted our lives in unforeseen ways. The COVID-19 pandemic has
cast a shadow of uncertainty and anxiety all over the world, affecting people across all
social strata. Through these difficult times, the relentless effort and determination of
all the frontline health and social workers has stood out as a beacon of hope for
humanity, and I would like to convey my sincere gratitude to them for not only keeping us
safe but also helping the economy move forward.
On our part, we launched several health and wellness programs for our employees. In
particular, we offered COVID-19 related care for our employees like Mediclaim policy to
assist them in case of medical emergency.
Working closely with government authorities, we launched COVID-19 vaccination centers
in our campuses for eligible employees. For those employees working from our physical
offices, we have established a safe work environment and protocols for testing and
quarantine. I am also hopeful that if each one of us acts in a responsible manner, we
would be able to put this hardship behind us and look towards brighter, healthier and
safer days ahead.
Due to the COVID-19 Pandemic, our Company has also suffered in terms of production and
revenue during the FY 2020-21. After the imposition of several restrictions by the Central
and State Governments to curb the COVID-19 virus, Company had to temporarily suspend the
manufacturing operations in the unit at Hisar for more than one month. Despite of various
challenges during the unprecedented times in the history of the Company, your company was
able to deliver a strong performance in terms of revenue and profitability growth.
EMPLOYEES
We were always of the belief that this was more a period of human tragedy rather than a
business one. As a result, our number one priority was ensuring the safety and well-being
of all our employees. We have offered COVID-19 related care for our employees and their
families. Working closely with government authorities, we launched COVID-19 vaccination
centers in our campuses for eligible employees. Company has rolled out a slew of measures
including inter-alia Work from Home policy for its employees to ensure the safety and
wellbeing of its employees.
OUR PERFORMANCE
During the FY 2020-21, your Company has shown a tremendous growth in terms of
profitability despite of unprecedented crisis in the history of mankind due to company's
robust functionality while dealing with its customers, vendors and various stakeholders.
Company's market presence and strong customer base across the globe help us to grew during
the crisis across the globe.
Total turnover of the Company has been increased by 17.60% as compared to corresponding
previous financial year due to the increase in Sewing Thread production and Export Sales.
The profitability of your Company has seen a tremendous growth by 434.50%, taking to the
level of Rs 343.50 Lakhs as compared to previous year of Rs 64.28 Lakhs. EBITDA has
increased by 69.05% as compared to corresponding previous year. Company has shown an
impressive growth, both in terms of profitability and Return on Net Worth.
ENVIRONMENT
For several years, we have been focused on becoming a 'green' company and by constantly
trying to reduce our carbon footprint by decreasing our energy consumption, water
consumption and emission, among others. Energy conservation is an ongoing process in our
organization. Continuous monitoring, planning, development and modifications for energy
conservation are done at the plant.
WAY FORWARD
As we look at navigating the business forward in the new financial year, uncertainties
have resurfaced with the emergence of a strong, second wave of the COVID-19 pandemic. The
situation has also worsened in many of our international markets, with infection numbers
surpassing previous peaks. While governments are keen to accelerate vaccination, only an
effective drive covering a large proportion of the population, will help us contain this
spread.
In the meantime, safety and well-being will remain our highest priority. We will focus
on addressing business challenges with agility, working closely with our business partners
and stakeholders. I am confident that with the guidance of our experienced Board, dynamic
leadership of the management team, and the commitment of our employees, we will not just
overcome the challenges but convert these very challenges into opportunities to move to an
even higher trajectory of sustainable growth.
| WARM REGARDS |
| Kailash Kumar Agarwal |
| Chairman & Managing Director |
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H P Cotton Textile Mills Ltd
Company History
Promoted as a joint venture in association with the Haryana State Industrial Development Corporation, HP Cotton Textile Mills Limited
is a leading manufacturer of cotton specialty yarns and cotton sewing threads catering to both local and export markets. The Company
manufactures cotton sewing thread, hosiery yarn and industrial yarn of different colours for sewing, weaving carpets and canvas belting, filter cloth, tarpaulins, taper, fishing nets, canvas cloth and industrial ropes. It has a sewing- thread-cum-spinning mill.
Balancing equipment was added to the thread division in 1992-93 to improve the product mix and range of products. The products marketed under the Dora brand, besides being sold under DGS and D-rate contract to the defence sector, fertiliser units and tyre manufacturers, are also exported to Germany, Lebanon, Bangladesh, Hong Kong, etc.
HP Cotton undertook a backward-cum-forward-integration project to increase the thread manufacturing capacity by around 80%. It is following the total quality management concept to obtain the ISO 9000 certification.