Dear stakeholders
I write this letter with a sense of pride about how well your Company performed thisyear not just in financial terms but also in terms of what we accomplished forcustomers employees shareholders and communities across the world.
We will continually shape the Company strategically choosing the businesses in whichwe compete the areas of research in which we invest and the geographies in which webuild to achieve the optimal configuration for success. Our decisions actions andefforts will always be focused on reinforcing our commitment to create long-term value forour shareholders.
We truly believe that a satisfied customer is the best business strategy of all.Because in their success lies our sustenance. We recognize the fact that it is the mostdifficult path to tread – for customer satisfaction is relative; as there can be noreal measure for the intangible. Moreover customer satisfaction is a dynamic parameterit changes between customers and for the same customer it changes between time periods.Despite these realities we continue to stay focused on this course for when a customerexpresses satisfaction it provides us with energy to achieve more.
Your Company has shown itself to be immensely entrepreneurial agile adaptive andinnovative over the years and these attributes will continue to serve it well in theyears ahead. Your Company's management has always been willing to take that extra step formaximizing shareholders' return. The Board of Directors of your Company has recommendedand paid an Interim dividend of Re. 0.50 (5%) per equity share for the financial year2018-19.
Our People are our greatest assets. I thank the respective teams across the Company fortheir diligence and dedication and look forward to the achievement of greater goals.
The opportunities ahead are huge. By staying true to its mission and its values and bycontinually investing in building newer capabilities your Company is positioned well tobecome the foremost partner of choice to all forward-thinking enterprises in their growthand transformation journeys.
In order to support your Company's belief in sustainable development through harmoniouseconomic growth social inclusion and environment protection your company has decided toadopt governance-based reporting.
On behalf of the Board of Directors of Vishal Bearings I want to thank you for yourcontinued trust confidence and support.
Best Wishes
Hiralal Changela
Chairman
