The last Financial Year was a significant one for us as we crossed an importantmilestone in our journey surpassing the sales volume of three lac KL (300000 KL) makingus one of the largest Specialty Oil and Lubricating Oil manufacturers in India. Globallyin Transformer Oil we are now the Fifth Largest manufacturer.
I am pleased to inform you that after two difficult years 2014-2015 and 2015-2016 wehad a smart recovery in 2017-2018 with a significant increase in profit and also growth inall our product segments.
Passion for Innovation:
Though "Make in India" is a slogan coined by the current Government in 2014this has been a mission for our company since its very inception in 1961. Given ourpassion for innovation; we have pioneered and introduced for the first time in India morethan 10 product categories that were hitherto imported and Made in India for the firsttime by our company.
Our strong R&D culture is the edge which sets us apart from our competition.Innovation is a second nature to us and continues to motivate and drive us in all that westrive to do. Producing world-class products alone is not enough for us. We aim to do itin a sustainable manner.
Towards A Greener Future:
We were one of the first Indian companies to invest in Renewable Wind Energy and todayare proud of the fact that we are the only Carbon Positive Specialty Oil and LubricatingOil Manufacturer in India. Our R&D team is now focussed on developing a range ofLubricants that are greener and leave a lower carbon footprint than conventional mineraloil based lubricants.
We have recently re-launched our lubricant brand SAVSOL in a "GreenerAvatar". We have also significantly strengthened our lubricating oil marketing teamwith a view to enhancing our distribution network so that we may have our productsavailable in every corner of the country.
Best-in-Class Products and Manufacturing facilities:
We are also adopting the best Global Technologies in our manufacturing units and bothour manufacturing units in Silvassa employ state-of-the-art technology with a view toincreasing output in the most cost-effective manner. Our workforce is being continuouslytrained in the best manufacturing practices with a view to enhance productivity.
Given that most of the challenges related to the GST and Demonetisation are behind uswe see a strong growth for the Indian economy in the years ahead and are well poised totake advantage of this growth in all three of our product segments Transformer OilsLubricating Oils and White Oil.
We consider our employees as our most valuable resource and central to the success ofour Company.
I take this opportunity to thank our employees for their relentless hard workdedication and teamwork. My sincere gratitude to all our external stakeholders bankerssupply chain partners and all those who have been the strong pillars enabling our businessto withstand the tough times and flourish in better times.
Last but not the least I thank you dear Shareholders for your continued support whichhas enabled our Company to achieve a place of pride not just in the Indian economy butalso in Asia. I look forward to your continued support in the years ahead to achieve newmilestones of growth and profitability for your Company.
Gautam N. Mehra
Chairman and Managing Director