Symbiox Investme Management Discussions


The report contains forward-looking statements, identified by words like ‘plans, ‘expects, ‘will, ‘anticipates, ‘believes, ‘intends, ‘projects, ‘estimates and so on. All statements that address expectations or projections about the future, but not limited to die Companys strategy for growdi, product development, market position, expenditures and financial results, are forward-looking statements. Since these are based on certain assumptions and expectations of future events, the Company cannot guarantee that these are accurate or will be realised. The Companys actual results, performance or achievements could thus differ from those projected in any forwardlooking statements. The Company assumes no responsibility to publicly amend, modify or revise any such statements on the basis of subsequent developments, information or events. The Company disclaims any obligation to update these forward-looking statements, except as may be required by law.


The global growth forecast for 2023 and 2024 had already been revised downward in the last World Economic Outlook (WEO), partly because of the negative effects of tariff increases enacted in the United States and China earlier this year. Global growth, which peaked at close to 3.9% in 2023, softened to 6.8% in 2024, is projected to decline further to 6.3% in 2023. Although a 3.3% global expansion is still reasonable, the outlook for many countries is very challenging, with considerable uncertainties in die short term, especially as advanced economy growth rates converge toward their modest long-term potential.

The risks to the global outlook remain skewed to die downside amid high policy uncertainty. The global economy also remains susceptible to a sudden shift in market sentiment and associated tightening in financial conditions. On the upside, if recent tariff increases are rolled back and trade tensions resolved, rising business confidence could lift growth. Further, fiscal policy should strike the right balance between growdi and debt sustainability objectives as appropriate in individual countries. In countries with high debt, gradual fiscal adjustment is needed, particularly if financing risks are large. Depending on country circumstances, efforts should continue to raise revenue, reduce debt-related vulnerabilities, and make steady progress on economic and financial rebalancing.

The Indian economy witnessed robust industrial growdi during FY 2022-21 and die momentum is expected to continue next year as well. The real challenge on die supply side is to reverse the slowdown in the growth of the agriculture sector and sustain the growth momentum in the industry. However, Indias GDP growdi is expected to accelerate moderately to 4.5% in FY2022-22, driven by continued investment strengthening-particularly private improved export performance and resilient consumption.


1. Initiation

The Textile industry in India is highly diversified with a wide range of segments ranging from products of traditional handloom, handicrafts, wool and silk products to the organized textile industry. It is die second largest industry in terms of providing employment opportunities to more than 35 million people in the country.

2. Segment Wise or Product Wise Performance:

While maintaining its position in the market as the largest producer of jute in die world, India is also the second largest producer and exporter of cotton in the world at USD 6.3 billion, marginally close to China. The size of Indias textile and apparel market recorded USD 108.5 billion in 2015 and is expected to reach USD 226 billion by 2023, growing at a CAGR of 8.7% between 2009 and 2023.

J. Outlook & Government Initiatives

In order to follow the goal of making Indias development inclusive, the central government is focusing on a number of policies in providing best manufacturing and infrastructure to local artisans, technology and innovation, enhancing skills and strengths of the local industry. Amended Technology Up Gradation Funds Scheme (ATUFS) is one of the various policy initiatives & programmes which have been implemented for development of textiles and handicrafts, particularly for technology, infrastructure creation and skill development. ATUFS provides one-time capital subsidy on investment in labour intensive segments and garment manufacturing and design studios. For apparel/garment and technical textiles subsectors, a subsidy of upto 15% is provided on capital investment, subject to a ceiling of INR 30 Cr. over five years, whereas, for other subsectors, the subsidy is upto 10 % with a ceiling of INR 20 Cr.

The future for Hie Indian textile industry looks promising, buoyed by both strong domestic consumption as well as export demand.


Technical textiles are functional fabrics, which find applications across multiple end-use industries such as automobile, construction, and others. These materials exhibit enhanced performance as compared to conventional textiles. Technical textiles are an important part of the textile industry and its potential is still largely untapped in India. However, with die increase in disposable income, the consumption of technical textiles is also expected to increase.

By 2022-22 the technical textile sector is projected to reach a market size of Rs.2 lakh cr. To boost the technical textile sector, Ministry of Textiles has taken the initiative of persuading all the user Ministries at the highest level to incorporate the technical textiles in their specifications, manuals, guidelines etc. With growing awareness and consumption of technical textiles, greater innovation in the field and demand from end-use industries, the country is a promising destination with an increasing demographic dividend and consumption scenario. The global technical textile market was valued at USD 234,715 Mn. in 2018 and is projected to reach to USD 334,938 Mn. by 2025, growing at a CAGR of 4.5% from the year 2019 to 2025.


• Complete value chain from the procurement of raw materials to the production of finished goods.

• Huge untapped potential for the development of technical textiles

• Make in India campaign covering 25 sectors including the textile and garment industry has been launched. Larg and diversified segments in this industry that provide wide variety of products.

• ASEAN countries to develop as a textile and garment manufacturing hub, so opportunities for global and regional export should improve.

• New Product development which needs additional focus in Indian Companies in order to move up the value chain and capture a great global market share

• Vibrant domestic market, enabling manufacturers to spread out risk


• Use of outdated manufacturing technology from the low-end supplier which has resulted in low value addition in the industry.

• India is its geographical distance from major global markets of US, Europe and Japan in contrast to its rivals like Mexico, China etc which are comparatively nearer. Big geographical distance results in high shipping expenses and lengthy lead-time.

• Fragmented Industry leads to lower ability to expand and emerge as world -class players.

• Intense competition in domestic market.

• Volatile exchange rate situation.


The company is mainly into Trading in Investments & textile. The company has a wide variety of sarees from plain to be to cater to the growing industry and offer its products to all the age groups. The company is slowly progressing towards becoming a one stop shop for all the retailers. The company is planning to venture into trading of other merchandise products through the existing chain of Wholesalers and Retailers.

As regards developments in the industry and your companys performance for the year under review in relation to those developments, the same has been explained in greater details in Directors Report under Performance Review.


The Company has Internal Control System, commensurate with the size, scale and complexity of its operations. The scope and authority of the Internal Audit function is well defined. To maintain its objectivity and independence, the Internal Audit function reports to the Chairman of the Audit Committee of the Board & to other Directors. The Accounts Department monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating systems, accounting procedures and based on the report of internal audit the management undertakes corrective action in the respective areas and thereby strengthens the controls. Significant audit observations and recommendations if any, along with corrective actions thereon are required to be presented to the Audit Committee of the Board. During this financial year no such observations have been made.


The Financial Performance of the company for the year under review is disclosed in the Directors report.

Please refer to Directors Report for the detail study on the performance review of the company.


The industrial relations remained cordial throughout the year. The employees of the Company have extended a very productive cooperation in Hie efforts of Hie management to carry the Company to greater heights. Continuous training down Hie line is a normal feature in the Company to upgrade the skills and knowledge of the employees and workmen of the Company.


The statements made above may be construed as Forward-Looking Statements within Hie meaning of the applicable laws and regulations. Actual performance of the Company may vary substantially depending upon the business structure and model from time to time. Important external and internal factors may force a downtrend in the operations of the Company.