Over the 3 years OEL has positioned itself to pursue consumer-centric innovation to create stakeholder value. This approach towards innovation extends beyond products into its culture and ways of working. It's credo of 'Switch to Smart' reflects this overarching adherence to delivering first-to-market products and compelling consumer experiences.
FY 2019-20 has been noteworthy on many fronts. The financials validate the strategic choices made in the last few years. The progress achieved towards manufacturing automation and digitization reached a critical momentum with some early gains. I am confident that the company will emerge agile and nimble in the coming years with these initiatives.
A testament to the inclusive workplace and People-first culture it is heartening to state that OEL has been certified Great Place to Work in FY 2019-20. The commitment to the belief that a high-performance team is a key pillar for long term performance of the company stands emboldened with this certification. Orient Electric will continue prioritizing on building a smart workplace that facilitates boundary-less thinking and collaborative innovation.
I am pleased to report that despite the challenges of the economy and sectors where we are present our growth journey as a standalone company remained resilient to sectoral headwinds and continued to enhance overall value for our stakeholder family. I am confident that the strategic direction of the company will help us emerge smarter and stronger from the current business realities.