It's indeed pleasure to communicate to you through this letter in continuation of the trend started by Amit Spinning Industries Ltd. (ASIL) for last two years. I am happy to congratulate one and all at ASIL as they reach the 6th year of operations in the year 2000, and on declaration of maiden dividend.

The Indian Cotton Textiles Industry has always been with ups and downs and has been going through the difficult phase for last few years. ASIL has not only successfully survived during this period but also made mark in the export market through its quality and consistency. Having started as a small player with unknown brand ASIL has been achieved largely due to the people who have made possible delivery of quality products.

ASIL has now developed its base and is expanding and focusing on value added areas. Increase in competition normally result in decline in the margin on per unit of sale. For a growing company this need not necessarily result in overall reduction of profit which has been demonstrated by ASIL with its consistent growth.

It has however, yet to fulfill the promise of high value addition and value creation. Some steps are initiated in this direction. I am sure with a dedicated, young and charged up team in place, the company is all set to change its LEAGUE and remap the horizons of business in years to come.

K.K.Sheth
Chairman