It gives me immense pleasure to welcome you all to the 23rd Annual General Meeting ofyour Company and share with you an update on overall performance of your Company duringthe fiscal year 2015-16.
At Optiemuswe have created a culture of high performance with a deep commitment whichkeeps us going in the toughest of challenges.
It was quite evident since last financial year that the sales volume of business ofdistribution of mobile phones faced huge drop in comparison to the market share it held in2013 and earlier years.Not leaving Optiemus unaffectedthe result of such drop in themarket share is quite visible in the financials of Optiemus whereinthe total turnover ofthe Company has been declined by 34%.Howeverin order to strengthen presence in telecomsector and creating new growth venturesyour company formed a Joint Venture with TaiwanRssleading original design manufacturer (ODM)RsM/s Wistron CorporationRs a global Fortune500 company to set up manufacturing facilities for telecom products in India.
It is a matter of great pride for us to actively contribute to the growingmanufacturing ecosystem in the country.Embarking on this new journeywe intend to emergeas one of the top three contract manufacturers in the country in the next five years.Ourcollective expertise in designmanufacturingdistributionretail and after sales serviceswill provide a holistic solution for brands in India.
Howeverthere may be certain growth challenges that your Company has been facingrecentlybut with its vision set on exploring a wider horizonwe hope to do better inFY2017.
FinallyI would like to take this opportunity to acknowledge the dedication andcommitment of our board membersemployees and other associates whose commitment and hardwork helped deliver another successful year.I would also like to thank you ourShareholders for your continued support.