Dear Partners in Prosperity,

It gives me immense pleasure to present to you another exciting year in our journey. I am happy to share that despite the challenging global environment, your company achieved total revenue of Rs. 55 Crores in fiscal 2015-16 with a growth of 12%. Net Profit for the year increased to Rs. 36 Crores, up 36% over the previous year.
This performance could not have been achieved without single minded focus on Product development and marketing and Perseverance in operational efficiency. The company has taken many strategic initiatives in the last year to achieve its vision of being Green Company. Keeping this vision in view, company's named has been changed from Arrow Coated Products to Arrow Greentech Ltd. With this, our approach of creating value for our Environmental is in line.

Your company continues to tread on the path of transforming itself into a technology driven company with focus on innovative & eco-friendly products. The foundation of your company now stands firmly on the platform of Research & Development, Sustainability and Intellectual Property. We will keep on looking out for profitable growth avenues, which will create long term value for the shareholders.
The Patent business continues to be booster for the revenue of the Company. We have 31 patents granted in India and across various geographical regions in the field of health & hygiene, high strength paper, security, packaging etc. Our product development team is continuously working on development of new products and filing new patents to secure the company's IP. Also on tangible assets side, expansion in our Ankleshwar factory is going on full scale and we are expecting commercial production from new unit in early third quarter of FY16-17. I would also like to take this opportunity to mention that the business performance of the subsidiary in UK has also improved.
Our strategy has been simple. Innovate, Protect (Patents and IP), find the best in the field and make a strategic alliance to produce the patented product or outlicense our technology. The focus will always be on Environment friendly technologies and we look for like minded partners having expertise in their field and who can add value to our targets. In this line, in this year we have made alliance with Proquimia, Spain and Misapore, Switzerland.
I express my sincere gratitude to our shareholders, investors and banks who continue to support us. I wish to express my appreciation to my colleagues on the Board and our employees for continued support and confidence in your company. Let me assure you, we continue to stay focused in building a strong business at Arrow and enhance shareholders and other stakeholders' values in every possible ways and we solicit your unstinted support for the years to come.

Yours Sincerely,
Shilpan Patel
Chairman & Managing Director