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Oriental Veneer Products Ltd.

BSE: 531859 | NSE: | Series: NA | ISIN: INE457G01029 | SECTOR: Miscellaneous

BSE Live

Sep 18, 16:00
38.00 -1.60 (-4.04%)
Volume
AVERAGE VOLUME
5-Day
3,062
10-Day
3,027
30-Day
9,505
1,595
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    39.60

  • Open Price

    41.15

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    0.00 (0)

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NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
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Oriental Veneer Products is not listed on NSE

Annual Report

For Year :
2018 2016 2001

Chairman's Speech

Dear Shareholders,

It gives me a great pleasure to present before you another set of good numbers with a few highest ever in your Company’s history, in the face of a challenging business environment.

Your company has reported ‘highest’ on various parameters, that is, Revenue, EBIDTA and Profit after Tax.

Committed to Deliver

I am happy to share that our performance reflects the inherent fundamental strengths of our business. On a Standalone basis, the Company achieved Total Revenue of Rs. 11,984.77 Lakhs as against Rs. 10,003.39 Lakhs in the previous year, thereby registering a growth of 19.81%. EBIDTA for the year under review was Rs. 1952.76 Lakhs, representing a growth of 32.23%. The net profit for the year ended March 31, 2018 increased from Rs. 771.71 Lakhs to Rs. 1097.50 Lakhs, showing a remarkable growth of 42.22%.

The consolidated Total Revenues enhanced to Rs. 13,499.89 Lakhs in 2017-18 as against f 10,573.32 Crores in previous year, resulting in a growth of 27.68%. Net profit for FY 2017-18 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 face value 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 and fulfill their needs. To meet the growing demand for innovative products from our customers, we have aggressively focused on scalability. During the year, the company has set up a Silicone Foam plant with an expenditure of Rs. 65 Lakhs having capacity of Rs. 15 Lakhs/kg per annum, in the existing factory premises of the company at Aghai, Kalyan. The foam 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 in policies of Indian Railways whether positive or negative, has a direct impact on the Company’s business. The Government of India has focused on investing on railway infrastructure by making investor-friendly policies. It has moved quickly to enable Foreign Direct Investment (FDI) in railways to improve infrastructure for freight and highspeed trains. Government of India’s focus on infrastructure is a major factor which will accelerate growth of Railway Industry.

The future of the industry looks promising as the total capital and development expenditure 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 outpace the industry. Going forward, we will continue to focus on cost efficiencies, quality control, market penetration and technology upgradation. We will also concentrate on expanding the value-added product portfolio by focusing more on innovation in line with changing aspirations of society.

Acknowledgments

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

Many Thanks

Saleh Mithiborwala