2016-17. At VISHAL the year was marked by a focused drive for steady sustainablegrowth. Despite the domestic market registering a slowdown reacting to the demonetizationand currency correction initiative of the Government your Company recorded a turnover ofRs. 33.07 Crores overcoming hurdles with growth-led strategies of enhancing efficienciesexploring new markets and enlarging the customer base.
In line with this the Company followed a roadmap of capacity enhancement market andchannel development customer partnering and value-added services to grow the business.
During the year the Company rolled out work practices for optimizing efficienciesreducing downtime managing cost and adhering to best-in-class standards in quality andexecution. Training and capability building programmes enhanced people efficienciesgearing them for greater responsibilities and growth.
At VISHAL the future holds great promise. The Company's reputation as a manufacturerof quality bearings and its technical expertise has positioned it as a reliable supplierto large. The Government's Make-in-India' thrust and infrastructure buildingprogrammes will further provide us the opportunities in conventional and emerging markets.At VISHAL there is a strong focus on building sustainable and profitable growth. The teamhas charted out an aggressive growth map and is well on the way to meet ambitious targetsthat it has set for itself.
Our People are our greatest assets. I thank the respective teams across the Company fortheir diligence and dedication and look forward to the achievement of greater goals.
In our journey the members of the Board have been a great source of strength andsupport. I thank them sincerely for their active involvement support and guidance to theCompany's Management Team and to me personally.
I thank all of you dear shareholders for your continued support and for the confidencereposed in us. We will do our best.
Chairman & Managing Director