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Oriental Veneer Products Ltd.

BSE: 531859 Sector: Others
NSE: N.A. ISIN Code: INE457G01029
BSE 00:00 | 07 Aug 40.70 0.70
(1.75%)
OPEN

38.05

HIGH

43.00

LOW

38.05

NSE 05:30 | 01 Jan Oriental Veneer Products Ltd
OPEN 38.05
PREVIOUS CLOSE 40.00
VOLUME 678
52-Week high 65.00
52-Week low 24.90
P/E 11.66
Mkt Cap.(Rs cr) 219
Buy Price 40.30
Buy Qty 493.00
Sell Price 41.00
Sell Qty 432.00
OPEN 38.05
CLOSE 40.00
VOLUME 678
52-Week high 65.00
52-Week low 24.90
P/E 11.66
Mkt Cap.(Rs cr) 219
Buy Price 40.30
Buy Qty 493.00
Sell Price 41.00
Sell Qty 432.00

Oriental Veneer Products Ltd. (ORIENTALVENEER) - Chairman Speech

Company chairman speech

"Entire Company is focused to improve its Products Value and enhance the Trust ofits customers and other stakeholders in "Oriental Veneer Products Ltd."

Dear Shareholders

I am pleased to present in front of you yet another year of growth and success ofOriental Veneer Products Ltd. (‘OVPL'). We continued to demonstrate our proficiencyand determination in achieving operational excellence and financial soundness in thefiscal 2019. To remain robust and resilient in an ever changing business environment westayed focused on carry forward our legacy of contributing to the growth of the country bydelivering value to our shareholders. I am delighted to highlight that your company hasranked among top 1200 listed companies in India in terms of market capitalization. Themanagement has given a focused attention on project delivery and performance improvement.It is a matter of pride that for last 28 years your company has successfully handledbusiness and maintained a sustained growth while increasing our footprints in RailwaySector.

Results & Progress

During the financial year 2018-19 OVPL achieved its highest ever total consolidatedrevenue of Rs. 13924.34 Lakhs up by 4.94% over financial year 2017-18. Profit after Taxin financial year 2018-19 have been Rs. 1173.77 Lakhs up by 0.79% over financial year2017-18. Going forward I am confident that we would continue to deliver growth set newbenchmarks for the company and continue to meet expectations of all stakeholders.

Subsidiary of OVPL

OVPL subsidiary company M/s. Oriental Foundry Private Ltd. (‘OFPL') has onceagain shown an excellent performance in FY 2018-19. Its revenue has increased to Rs.3860.89 Lakhs i.e. up by 130.88% and PAT at Rs. 167.64 Lakhs was up by 149.79%. Thecompany has successfully bagged several orders of Wagons for Indian Railways in financialyear 2018-19. It had achieved another milestone by receiving approval from Government ofIndia–Ministry of Railways Research Designs & Standards Organisation Lucknowfor its Prototype product BOXHNL Wagons

Growth opportunity

The opportunities ahead in the Railway sector where your company is actively workingin India is enormous. In India the capital expenditure in projects in railways have beengetting about 20-30% increase in budget allocation for investments on year on year basissince last 4-5 years. Next 5 years also are expected to see massive Railway development.We believe that their efforts to increase investment in Railway sector will have afavorable impact on our business. OVPL & its subsidiary OFPL has emerged as a TotalRail Solution provider equipped with latest technologies. It will keep the industryengaged for years to come at a brisk pace.

The ambitious plan of the Government has also triggered the demand for Railway Seat& Berth modern hi-tech wagons Bogies and Coupler where your Company has alreadyestablished a strong presence. With such unprecedented opportunities thrown up in the wakeof massive ongoing expansion plans of Railways the major challenge to your Company is tobeef up its own resources in terms of organisation financial wherewithal and supply chainmanagement etc. The Company's top brass management is fully seized of it and is committedto deliver. The Company continues to have successful relationship with its customers i.eIndian Railways deriving majority of the company's revenues.

Acknowledgment

We believe that tomorrow belongs to those who prepare for it today. Past patternscannot always be applied to find answers for tomorrow. That is why we have to be flexiblein our approach to maintain the Company's leadership in the market. Your continued supporthas enabled us to progress this far and look forward to continuing this journey andachieving greater heights together. Warm regards

Saleh N. Mithiborwala

Chairman of the Board