INDUSTRY STRUCTURE AND DEVELOPMENTS
Incorporated in 2008, ‘Titaanium Ten Enterprise Limited
(‘the Company) is engaged in Trading of yarn, grey cloth and knitted fabrics as
well as manufacturing of knitted fabrics. We also undertake job work of yarn and fabrics
in our own capacity or on outsource basis. The Registered Office of our Company is
situated at Shop No. 901/914, Rajhans Complex, 9th Floor, Ring Road, Surat- 395002,
Gujarat and the manufacturing plant is situated at Plot No. 660/A, 660/B and 660/C,
Village Palsana, District Surat, Gujarat.
The Company is promoted by Mr. Rohitkumar Kapadia and Mrs. Ilaben
Kapadia. Being engaged in the textile industry since last four decades, our Promoter Mr.
Rohitkumar Kapadia has been the pioneer of the Companys business ideology and growth
strategies. The Companys operations are backed by the inventive initiatives and
textile knowledge of Mr. Tejuskumar Kapadia, the CEO of our Company. Within a short span
of time, our Company has created a steady position for itself in the Surat textile market
and has been able to generate turnover of around Rs. 250 Crores during the past few years
of operations.
With gradual unlocking and resumption of mobility, Consumers started to
step out to shop which led to the growth rate coming into the positive. While demand for
health and hygiene products continued to be on the higher side, the discretionary
categories also saw sequential recovery. Rural areas continued to be the drivers of
growth, outpacing growth in urban areas.
The Companys sales model is divided into 2 parts i.e. i) trading
of yarn and grey cloth and ii) supply of knitted fabrics. Our trading operations cater to
customers from both domestic and international markets. Our traded materials are mostly
used in the process of weaving and knitting of fabrics which are then used for apparels
such as sarees, shirtings, suitings, and upholstery such as curtains amongst
others. For our manufacturing operations, we have a plant set up at Surat which is
considered as "The Textile Hub of The Nation".
Spread over 2,853.12 square meters, our manufacturing facility is well
equipped with requisite plant and machinery such as Warping and Knitting machines. Our
manufacturing process mainly consists of blending and knitting of yarn into beams of cloth
which is then converted to fabric. We use different qualities of yarn as raw material of
which Bi-Shrinkage Yarn (BSY) and Cationic Yarn are imported and others such as Filament
Yarn, Bright Yarn, Nylon Mono Yarn, etc are procured locally. We also undertake job work
activities to customize the products to suit the clients requirements. The Company
has also started its hands on working into Furnishing and Home Decor Products, Handling
Local Dispatches and the Logistics Business.
Customer satisfaction has been one of the key strengths of our Company.
Our management and team has enables us to maintain continuing customer relations, ensuring
repeat order flows. Similarly, we have developed strong bonds with our suppliers. We are
the sole authorized representative for sales of yarns in Surat. of PT. Asia Pacific Fibers
Tbk., a well-known Indonesian yarn manufacturing Company.
We aim to satisfy the needs of customers and give them value for their
money by ensuring quality and a wide variety of products accompanied by technology
development, involvement of our management team and dedication of our employees. We also
desire to expand our business operations on PAN India basis. Our Company is currently an
Export House and holds a valid certificate for the same from the Director General of
Foreign Trade which facilities ease in export transactions.
OPPORTUNITIES AND STRENGTH:
1. In depth knowledge of Yarn.
2. Technological Advantage
3. Quality and innovation
4. Sole Representative for a well-known Indonesian Supplier
5. Customer centric Business Model
6. Diversified Product Range
7. Location advantage.
THREATS AND RISK:
1. Risk of duplication of our products
2. Brand image
3. Supply and availability of raw material
4. Competition and price cutting from existing and new entrants
5. Development of textile sector
6. Credit availability
7. Technological changes
8. Rate of interest policies
9. Economic and Demographic conditions
Any slowdown in the rate of growth of the Textile industry would
seriously impact our own growth prospects and may result in decline in profit.
Global economic and political factors that are beyond control,
influence forecasts and directly affect performance. These factors include interest rates,
rates of economic growth, fiscal and monetary policies of governments, inflation,
deflation, foreign exchange fluctuations, consumer credit availability, fluctuations in
commodities markets, consumer debt levels, unemployment trends and other matters that
influence consumer confidence, spending and tourism.
Risk management is integral to your Companys strategy and to the
achievement of long-term goals. Our success as an organisation depends on our ability to
identify and exploit the opportunities generated by our business and the markets we
operate in. In doing this, we take an embedded approach to risk management which puts risk
and opportunity assessment at the core of the Boards agenda, which is where we
believe it should be.
Our approach to risk management is designed to provide reasonable, but
not absolute, assurance that our assets are safeguarded, the risks facing the business are
being assessed and mitigated and all information that may be required to be disclosed is
reported to the Companys senior management including, where appropriate, the
Managing Director, Chief Financial Officer, the Audit Committee and the Board.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
There is an adequate internal control procedure commensurate with the
size of the company and nature of the business for the purchase of inventory, fixed assets
and for the sale of goods or services.
Company has constituted audit committee to overlook internal control
system and their adequacy. Audit committee regularly review and give it recommendation on
proper internal control system.
HUMAN RESOURCES
We believe that our employees are key contributors to our business
success. We focus on attracting and retaining the best possible talent. Our Company looks
for specific skill-sets, interests and background that would be an asset for our business.
Our employees look after administrative, secretarial, legal, marketing, business
operations, factory management and accounting functions. Apart from these
employees, we also employ casual labour or temporary labour on need
basis. Our manpower is a prudent mix of the experienced and youth which gives us the dual
advantage of stability and growth. Our work processes and skilled / semi-skilled /
unskilled resources together with our strong management team have enabled us to
successfully implement our growth plans.
For and on behalf of the Board TITAANIUM TEN ENTERPRISE LIMITED
SHHALU TEJAAS KAPADIA (DIRECTOR)
(DIN: 02298855)
Place: Surat Date: 02-09-2023
ANNEXURE - 6 - TO THE BOARD REPORT
CHIEF EXECUTIVE OFFICER (CEO) & CHIEF FINANCIAL OFFICER (CFO)
CERTIFICATION
To,
The Board of Directors of
Titaanium Ten Enterprise Limited
We hereby certify that on the basis of the review of the Financial
Statements and the Cash Flow
Statement for the financial year ended 31st March, 2023 and
that to the best of our knowledge and belief:
1. These statements do not contain any materially untrue statement or
omit any material fact or contain statements that might be misleading;
2. These statements together present a true and fair view of the
Companys affairs and are in compliance with existing accounting standards,
applicable laws and regulations.
3. To the best of our knowledge and belief, no transactions entered
into during the financial year ended 31st March, 2023 are fraudulent, illegal
or violative of the Companys Code of Conduct.
4. We accept responsibility for establishing and maintaining internal
controls for financial reporting and have evaluated the effectiveness of internal control
systems pertaining to financial reporting and have disclosed to the Auditors and the Audit
Committee, deficiencies in the design or operation of such internal controls, if any, of
which we are aware and the steps we have taken or propose to take to rectify these
deficiencies.
5. We further certify that we have indicated to the auditors and the
Audit Committee:
a) there have been no significant changes in internal control system
during the year;
b) there are no significant changes in accounting policies made during
the year and that the same have been disclosed suitably in the notes to the financial
statements; and
c) there are no instances of significant frauds of which we have become
aware and the involvement therein, if any, of the management or an employee having a
significant role in the Companys internal control system.
For and on behalf of the Board
TITAANIUM TEN ENTERPRISE LIMITED
SHHALU TEJAAS KAPADIA (DIRECTOR)
(DIN: 02298855)
Place : Surat Date : 02-09-2023
ANNEXURE - 7 - TO THE BOARD REPORT
DECLARATION OF COMPLIANCE WITH THE CODE OF CONDUCT
I, Ilaben Kapadia, Chairperson and Director of Titaanium Ten Enterprise
Limited hereby declares that all the Board Members and Senior Management Personnel have
affirmed for the year ended 31st March, 2023 compliance with the respective
Codes of Conduct laid down for them.
For and on behalf of the Board TITAANIUM TEN ENTERPRISE LIMITED
SHHALU TEJAAS KAPADIA (DIRECTOR)
(DIN: 02298855)
Place Date :
Surat
02-09-2023
+91-9892691696
