Letter to Stakeholders
It gives me pleasure to present the financial report of your company for the year2016-2017
The global economy has showed signs of recovery and the growth rates are starting tomove upas compared to the previous year. India has shown resilience which is expected tocontinue its growth trajectory with an estimated growth rate of 7.2% in 2017.Infrastructure is the backbone of the country's economic growth and it will continue todrive growth going ahead based of various infrastructure development initiatives taken bythe government. Your company's focus on Infrastructure and real estate development in oneof the fastest growing economies of the world
i.e. India is expected to create a huge basket of opportunities for the coming years.
We believe the recent reforms implemented by the Government especially thedemonetisation which happened in November last year and GST reform this year isstructurally positive forthe Indian economy.
Demonetization will ensure a better and a digitally driven financial ecosystem whileGST will make the indirect tax structures uniform across India. These two reforms willsurely go a long way in strengthening the Indian economy in the medium to long term. I canassure you all that the overall impact of these two initiatives will be insignificant toour company.
The infrastructure development opportunities in the country have led to your companywinning new projects to the tune of Rs.400 crores in Financial year 2016-2017. The newproject wins includes Rs.150 crores from irrigation/hydro power projects. Your company isgeared up well to secure more projects in the years to come based on the strong trackrecord.
The company being the leader in the hydro-mechanical segment continues to strive forcreating and enhancing shareholders value by entering into strategic joint ventures andacquisitions. The company has also initiated a strategy to re-align its corporatestructure by exiting few of its non-core businesses/assets.
The company continues to lookforfurther opportunities in new profitable ventures likeConst ruction and Operations of Food Grain Silos Constructions of Smart Cities andManufacturing of bottle caps in the Packaging segment.
The company continues to take efforts towards the development of the society andenvironment will continue to do so with the same attitude fortheforeseeable future.
All of the above is the result of the dedication shown by our staff and the managementteam at Om Metals Infraprojects Ltd. Our promotion of young talent has resulted ingathering an excellent team of professionals who brought their comprehensive expertise tobenefit our company. We truly believe that a company's strength and success lies on thehands behind it. Therefore we have ensured that our young employees gain ampleopportunities for personal and professional growth.
We would also like to place on record our renewed appreciation for unending trust andundiluted support of our customers shareholders lenders and vendors shown towards thecompany.
On your behalf as well as on behalf of the Board of Directors I whole heartedly admirethe integrated efforts of the employees of Om Metals Infraprojects Limited on another goodperformance and pursuing their goal to establish trust amongst you during the year FY17.1would like to thank all of you for your constant presence and garnered interest in theCompany.
We look forward to a successful year ahead!
|Place: Delhi ||Dharam Prakash Kothari |
|Date: 11.08.2017 ||Chairman |
| ||DIN:00200342 |