Letter to Stakeholders
Dear Shareowners & Stakeholders of Urja
Is the guiding vision and mission of our management team which needs to bedriven by your Company to reach each and every district of the country by providingquality products and make general public understand the utility of Solar and LED products.I feel delighted to perform my pleasant duty of apprising you of your Companysperformance during FY 16 and how I see it going forward.
In this environment your Company has achieved growth of 3.44% in its Standaloneturnover which is at Rs. 120 Crores (in comparison to FY15) with the NetProfit of Rs. 1.04 Crores for the current year. On Consolidated basis alsothe Company has achieved growth of 6.67 % in its turnover of Rs. 128 Crores (in comparisonto FY15) with the Net Profit of Rs. 1.06 Crores as against consolidated loss of Rs.1.37 Crores in the previous year. With regards to your Companys existingoverseas operations the batteries manufactured by your wholly owned subsidiary Company isbeing exported to various International Markets like Lebanon Nepal and is also in finalstage of some more orders from Africa Sri Lanka and Bangladesh during the current year.
Given the flurry of initiatives taken by the Central government including its focus onsolar cities and industrial policies for adopting Solar in various states like Haryana aswell as the transparent Subsidy System devised by the Ministry of New and Renewable Energyrecently we expect to clock better growth in all our business segments viz. SolarModules Hybrid Inverters and the Batteries in the coming financial year. Amidst thecurrent macroeconomic setup we have always been focused on remaining ahead of the curveby tapping future opportunities for growth and augment our brand building activities. Ourfocus continues to be on maintaining profit margins and strengthening of our dealernetwork. We remain focused on growing our network during the year. We have been successfulin opening Urja Kendras outreach to Uttar Pradesh Rajasthan and has thevision to tap all 687 districts across the country.
Urja has been sincerely committed to the "Make in India" initiative of ourGovernment we are constantly striving to become bigger and better and enhance ourstakeholder connect. In line with this endeavour in FY 2015-16 we have initiated to setup a manufacturing facility of 50MW Solar Modules and 25MW LED at Naya RaipurChhattisgarh which would become operational by the end of the year. Currently we operatetwo manufacturing units in India. We also manufacture over 50% of our products in-housewhich is a big step in realizing our dream of self-sufficiency and our nationsmission to Make in India.
An ocean of opportunities lies before us and given our passion for what we do yourCompany is confident of leveraging its assets and human capital to continue on the path ofgrowth profitability and firm customer orientation & satisfaction. Our enduringsuccess would not have been possible without the support and cooperation of our valuedcustomers suppliers bankers partners and associates. My heartfelt gratitude to theBoard of Directors for their conscientious guidance the Senior Advisory team for theirenthusiasm and efforts concerted efforts of all our worthy employees which hascontributed collectively to Urjas sustained growth.
As I look ahead to the future I see unprecedented opportunities as the Indian economyaccelerates ahead. In the India of tomorrow we envision reaching more villages districtsand bringing happiness to their homes by our top quality green products.
At Urja we believe that Action with Vision; Green Vision can change the world.