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Oriental Veneer Products Ltd.

BSE: 531859 Sector: Others
NSE: N.A. ISIN Code: INE457G01029
BSE 00:00 | 22 Feb 41.00 0.50
(1.23%)
OPEN

40.00

HIGH

41.50

LOW

38.60

NSE 05:30 | 01 Jan Oriental Veneer Products Ltd
OPEN 40.00
PREVIOUS CLOSE 40.50
VOLUME 9740
52-Week high
52-Week low
P/E 20.81
Mkt Cap.(Rs cr) 221
Buy Price 39.10
Buy Qty 500.00
Sell Price 40.85
Sell Qty 10.00
OPEN 40.00
CLOSE 40.50
VOLUME 9740
52-Week high
52-Week low
P/E 20.81
Mkt Cap.(Rs cr) 221
Buy Price 39.10
Buy Qty 500.00
Sell Price 40.85
Sell Qty 10.00

Oriental Veneer Products Ltd. (ORIENTALVENEER) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me a great pleasure to present before you another set of good numbers with afew highest ever in your Company's history in the face of a challenging businessenvironment.

Your company has reported 'highest' on various parameters that is Revenue EBIDTA andProfit after Tax.

Committed to Deliver

I am happy to share that our performance reflects the inherent fundamental strengths ofour business. On a Standalone basis the Company achieved Total Revenue of Rs. 11984.77Lakhs as against Rs. 10003.39 Lakhs in the previous year thereby registering a growth of19.81%. EBIDTA for the year under review was Rs. 1952.76 Lakhs representing a growth of32.23%. The net profit for the year ended March 31 2018 increased from Rs. 771.71 Lakhsto Rs. 1097.50 Lakhs showing a remarkable growth of 42.22%.

The consolidated Total Revenues enhanced to Rs. 13499.89 Lakhs in 2017-18 as against10573.32 Crores in previous year resulting in a growth of 27.68%. Net profit for FY2017-18 stood at Rs. 1164.62 Lakhs and Earnings Per Share at Rs. 21.61.

Dividend

The Board has recommended final dividend @20% (i.e. Rs. 2 per equity share of facevalue of Rs. 10/- each) for the year 2017-18 subject to approval of members.

Capacity Expansion

Innovation cannot be an end in itself. It has to reach customers across geographies andfulfill their needs. To meet the growing demand for innovative products from ourcustomers we have aggressively focused on scalability. During the year the company hasset up a Silicone Foam plant with an expenditure of Rs. 65 Lakhs having capacity of Rs. 15Lakhs/kg per annum in the existing factory premises of the company at Aghai Kalyan. Thefoam is an another variant of seat & berth used by Indian Railways.

Way Forward

As the Indian railway is the largest buyer of the Company's product any change inpolicies of Indian Railways whether positive or negative has a direct impact on theCompany's business. The Government of India has focused on investing on railwayinfrastructure by making investor- friendly policies. It has moved quickly to enableForeign Direct Investment (FDI) in railways to improve infrastructure for freight andhighspeed trains. Government of India's focus on infrastructure is a major factor whichwill accelerate growth of Railway Industry.

The future of the industry looks promising as the total capital and developmentexpenditure of Railways has been pegged at Rs. 1.48 Lakh crores in the Budget 2018-19.

Our Focus of engaging deeply with our customers has helped us to continuously outpacethe industry. Going forward we will continue to focus on cost efficiencies qualitycontrol market penetration and technology upgradation. We will also concentrate onexpanding the value- added product portfolio by focusing more on innovation in line withchanging aspirations of society.

Acknowledgments

Overall it was another year of sustained high performance with considerableachievements across our business. None of this would have been possible without thededication and determination of our people. I would like to thank each and every employeeand those working with us across the value chain for their commitment and service to theCompany.

Many Thanks Saleh Mithiborwala