It gives me a great pleasure to present the financial report of your company for the year 2015-2016.
In this year where global economic activity remained on a slower trajectory and Indian economy showing vivacity with growth coming in at 7.6% your company has never ceased to move towards development, progress and success in the multifaceted directions of sectors the company is into.
Given the present economic scenario with muted agriculture growth, India''s domestic consumption remained strong on the back of favorable demographics. Infrastructure is the backbone of the country''s economic growth and has been fueling it for the past one decade or so. The increasing population, rapid urbanization and industrialization are the driving forces for investment in the infrastructure development in the coming years.
The thrust of such opportunities, which have emerged in the present circumstances, has had a great impact on your company, and has lead to winning of new projects worth 272 crores including projects in hydro mechanical works worth Rs. 106 crores in this year. With the state of affairs on economic front and our preparedness, we are well placed for the forthcoming cycle of growth.
Your company is a leading player in the hydro mechanical segment but is constantly looking for growth opportunities through organic or inorganic ventures to enhance shareholders value. Your company had already made opportunistic investments in residential projects and industrial land bank which will yield strong cash flows.
Going ahead with this thought the company has entered into developing of infrastructure for the proposed Ujjain Smart City and venturing into manufacturing of closure for water PET bottles and Carbonated Soft Drinks (CSD). We are confident that this venture is going to boost the forthcoming cycle of growth.
In the midst of development, your company took its responsibility towards the society and environment. The Company has always been a place of continued innovation and hard work and will continue to do so with the same attitude for the foreseeable future.
I feel honored to say that all the above would not have been possible if we, at OM Metals Infraprojects Limited, did not have a strong team of Engineering and Management staff. Our promotion of young talent has resulted in gathering an excellent team of professionals who brought their comprehensive expertise to benefit our company. We truly believe that, a company''s strength and success lies on the hands behind it. Therefore, we have ensured that our young employees gain ample opportunities for personal and professional growth.
Therefore, I take this opportunity to thank every stakeholder of OM Metals who plays an integral part in our success and our constant effort towards making a difference.
We would also like to place on record our renewed appreciation for unending trust and support of our customers, shareholders, lenders and vendors shown towards the company.
On your behalf as well as on behalf of the Board of Directors, I whole heartedly admire the integrated efforts of the employees of OM Metals Infraprojects Limited on another impressive performance and pursuing their goal to establish trust amongst you during the year FY16. I would like to thank all of you for your constant presence and garnered interest in the Company.
We look forward to a successful year ahead!
Place : Delhi Sunil Kothari
Date 12.08.2016 Managing Director
. DIN 00220940