Dear Friends,
The past month was filled with travel and activities.
The early part of the month was spent in London, where we met many people and discussed ways to take innovation and projects forward.
Among the key meetings, one was with the company behind Apple’s packaging innovation, with whom we explored potential future collaboration. Another important interaction was with Zarnikow, a globally renowned sugar trading company, interested in working with us in multiple directions.
At the Rethinking Materials Conference (where Pakka plays a significant role), we engaged with investors, partners, and explored new alliances. This platform brings together companies from across the sector, and through it, we can promote our work. The world is still searching for new forms of packaging, and we need to infuse our work with energy so that we can offer revolutionary products to our customers in the coming days. We met several large-scale clients here who expressed a strong desire to collaborate. Now it is in our hands to understand and fulfill their needs effectively.
After several meetings, we have appointed Mr. Sam Son as our Head of Innovation. While he initially seemed promising, it soon became clear that he lacked familiarity with paper-based products. His background in large corporations also meant he could not match the pace we needed. Therefore, we decided to part ways with him.
Given our current commitments and investments, we’ve also decided not to open our lab in Portland, USA, at this time. Instead, we will further strengthen our capabilities in Bangalore and Ayodhya. We’ll be discussing this with the team this month and will channel new energy in this direction. I will need your support and guidance in this, as it is critical for our future.
Following London, I had the opportunity to attend the NRA Exhibition in Chicago, where we set up a booth for Chuk. We showcased newly designed delivery products that were highly appreciated. Many American buyers now prefer sourcing from India over China, which presents a golden opportunity for us. Under Satish Ji’s leadership, various activities are already underway.
I would like to especially appreciate our Molded Products team. Pankaj, Suresh, Durgesh, and many others have collectively brought pride to India. They worked day and night to deliver excellent products, and the designs by Nitin and Siddhesh left a great impression. We must continue this exceptional work and ensure our flag continues to fly high across the globe.
The Kavok project is progressing steadily. We’ve accelerated our search for new financial partners and investors. Discussions with several entities have advanced, and they’ve shown interest in working with us. Rolando is leading this effort.
A board meeting was held to review and approve the financial statements of the past year. In the last three years, our revenue and profits have seen no growth, which is worrying. We need to reflect deeply on our business approach and take corrective actions to move forward. When income and profits don’t grow, it means the business is regressing — as inflation rises, and the purchasing power of the rupee declines. Even more concerning is that in all three years, we failed to meet the targets we had set for ourselves, falling significantly short. To truly make a global impact, we must broaden our scope, set bold goals, and meet them. We cannot base our standing on external circumstances. The market will always rise and fall — and some companies will continue to grow even in downturns. Just as we don’t credit the market when it’s up, we must also take full responsibility when it’s down. We need to control our expenses and offer the highest quality service and products to our customers.
Together, we will regain our momentum and growth and work collectively toward our goals.
With best wishes,
Yours,
Ved
