It gives me immense pleasure to present the 28th Annual Report of theCompany "Optiemus Infracom Limited" for the financial year 2020-21.
The COVID-19 pandemic continued unabated and impacted each day of the last financialyear posing extreme challenges for many people communities and businesses. Throughoutthis tough period our unflinching focus has been towards safeguarding our peopleensuring no major disruption to our customers and consumers supporting our communitiesand retaining our financial strength. Never before have we felt so interdependent and inneed for human ability to come to the fore. We witnessed the medical fraternity respondingto the crisis emphatically and healthcare workers putting themselves on the frontline ofthis fight which helped to save countless lives. Scientists worked tirelessly to developvaccines at a miraculous speed and Drug Administrators fast tracked approvals to bringvaccines urgently to the public. The personal sacrifices and unrelenting efforts of theseindividuals have put humanity on the road to recovery and we cannot thank them enough.
Amidst all the disruption and economic fallout there is an opportunity for India toacquire new overseas markets as companies across the world look to de-risk and diversifytheir supply chains or relocate their manufacturing hubs.
The Company focus on exploring new business opportunities. As a result OptiemusElectronics Limited ("OEL') a wholly owned subsidiary of the Company has beenselected under the Production Linked Incentive ("PLI") Schemes for manufacturingof mobile phones and IT Products launched by Ministry of Electronics and InformationTechnology (MeitY'). It will boost domestic manufacturing and attract largeinvestments in the value chain of Mobile phones and IT Hardware Products.
Recently Optiemus Electronics Limited (OEL) has entered into Memorandum ofUnderstanding on a Strategic Partnership to form a unique alliance to strengthen the tieswith the USD$30Bn Taiwan Headquartered Wistron Corporation's Indian subsidiary WistronInfocomm Manufacturing (India) Private Limited ("Wistron") to manufacture Mobiledevices IT hardware and Automotive- EV products. The strategic alliance will offer aunique proposition in Indian Electronics Manufacturing Services (EMS) market backed byjoint product development engineering capabilities software and firmware developmentbesides giving a boost to employment generation in the country. The alliance will alsowork towards creating a joint hub in India for Design Solutions & Product Developmentapart from bringing smart manufacturing to India.
Apart from manufacturing mobile phones the alliance will also work towards design andmanufacturing of tablets laptops hearables/wearables telecom products IoT/IndustrialIoT smart meters/devices and automotive-EV products. The alliance will as well focus onthe expansion of design ecosystem in India. OEL and Wistron alliance will be able to offerTaiwanese technology at optimized cost and PLI sharing all under one roof. Through thispartnership Optiemus and Wistron Corporation will jointly explore the possibilities ofcatering to both domestic and overseas customers through OELs manufacturing facilities.
The Company strongly support the Hon'ble Prime Minister's call for Atma-Nirbhar Bharatfor creation of a world class supply chain in India for Mobile/IT Products manufacturingand related ecosystem and this alliance with Wistron is a significant step forward in thisdirection.
As a strategic decision during the year the Company has taken exit from its non-corebusiness i.e. Rental Business by sale of land together with structures/buildings of theCompany situated at Plot No. 2A Sector 126 Noida Uttar Pradesh - 201 301 in order toreduce/re-payment of Company's debt liability and utilization of fund towards theCompany's core business i.e. manufacturing of Mobile Phones & allied products. I amalso pleased to inform you that the debt liability of the Company has also been reduced.
Further the Company has taken stringent measures to reduce the costs and increase therevenue generation. We are continuously focusing on introducing new innovative products atcompetitive prices - to acquire much better market share.
I would like to express my gratitude to the Board members employees shareholderscustomers partners and bankers for the support and continued faith in the Company. I willlook forward to your guidance as always to take this Company to even greater heights.