Dear Shareholders,
Year 2010-11 was the year of major economic upheaval, marked by
sluggish growth, global uncertainties and low market sentiments. During
such times, it requires great prudence and discretion to stay the
course, while bearing the hurdles and difficulties of an economic
turmoil. It becomes more important to continuously tread the intended
path even if it calls for unassuming leaps.
Amidst this environment, your company has not only successfully stayed
on its course but has also sought to explore newer avenues. As I
indicated in my previous years message, every dark cloud has a silver
lining, your company utilized the opportunity to realign itself during
the crises, so as to channelize its strengths and execute its strategy.
As a result, your company is now at a strategic advantage to reap the
benefits of the efficiencies built over the period. The future augurs
well since the markets have shown signs of improvement and the sectoral
growth bids fair to touch the rising curve.
A strong pipeline, proactively built over the years at premium
locations of the city in conjunction with improved internal
capabilities, prepared your company well in time to remain competitive
and responsive to market dynamics. Such efficiencies not only led to
sustained profitability but also increased immunity of your company
towards dodgy business cycle of the sector. We believe that with this
focussed strategy, supported by the four pillars of our business:
Quality, Innovation, Technology and People, your company will continue
to reap benefits in the times to come.
We continue to employ green and sustainable technology and practices as
a token of our commitment to the steady amelioration of our natural
environs. I take pleasure, therefore, to inform you that during
financial year 2011, we have implemented the GO GREEN INITIATIVE of the
Ministry of Corporate Affairs.
Going ahead, with the consent of our shareholders, we intend to send
various notices and documents to them at their registered e-mail
addresses. I take this opportunity to encourage you to increasingly use
electronic means for correspondence and actively participate in making
this initiative a huge success.
This year, we also pay homage to Shri Davendra Ahuja Ji, whose sad
demise not only creates a lacuna in our hearts but also deprives our
organization of the energy and experience that he brought to bear on
the agenda. He will always be remembered for his valuable contributions
to our organization as the chairman of Audit Committee and as an
Independent Director.
I would also hereby like to welcome Shri Satish Chandra Gupta as an
esteemed addition to our Board and hope that the organization will
continue to benefit by his unique expertise and entrepreneurial acumen.
We continuously strive to protect the interest of our stakeholders and
create great value for them through our business. It is a matter of
pride for us to announce the completion of our Employee Stock Option
Scheme and to propose a 10% year end dividend for our shareholders
during this tumultuous period.
We would like to thank hereby, all our shareholders, valuable clients,
bankers, institutional investors and Orbit family members for reposing
their trust in not only our performance but also our potential. We are
grateful to them for standing strong by our side during these uncertain
and trying circumstances. We look forward to your continued support as
we navigate into a more prosperous future.
Mr Ravi Kiran Aggarwal
Chairman & Executive Director
Mumbai, 27th June, 2011
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