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The last Financial Year was a significant one for us, as we crossed an important milestone in our journey surpassing the sales volume of three lac KL (3,00,000 KL) making us one of the largest Specialty Oil and Lubricating Oil manufacturers in India. Globally in 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, we had a smart recovery in 2017-2018 with a significant increase in profit and also growth in all our product segments.
Passion for Innovation:
Though “Make in India” is a slogan coined by the current Government in 2014, this has been a mission for our company since its very inception in 1961. Given our passion for innovation; we have pioneered and introduced for the first time in India more than 10 product categories that were hitherto imported and Made in India for the first time 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 we strive to do. Producing world-class products alone is not enough for us. We aim to do it in a sustainable manner.
Towards A Greener Future:
We were one of the first Indian companies to invest in Renewable Wind Energy and today are proud of the fact that we are the only Carbon Positive Specialty Oil and Lubricating Oil Manufacturer in India. Our R&D team is now focussed on developing a range of Lubricants that are greener and leave a lower carbon footprint than conventional mineral oil based lubricants.
We have recently re-launched our lubricant brand SAVSOL in a “Greener Avatar”. We have also significantly strengthened our lubricating oil marketing team with a view to enhancing our distribution network so that we may have our products available 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 both our manufacturing units in Silvassa employ state-of-the-art technology with a view to increasing output in the most cost-effective manner. Our workforce is being continuously trained 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 us, we see a strong growth for the Indian economy in the years ahead and are well poised to take advantage of this growth in all three of our product segments Transformer Oils, Lubricating Oils and White Oil.
We consider our employees as our most valuable resource and central to the success of our Company.
I take this opportunity to thank our employees for their relentless hard work, dedication and teamwork. My sincere gratitude to all our external stakeholders, bankers, supply chain partners and all those who have been the strong pillars enabling our business to withstand the tough times and flourish in better times.
Last but not the least, I thank you dear Shareholders for your continued support which has enabled our Company to achieve a place of pride not just in the Indian economy but also in Asia. I look forward to your continued support in the years ahead to achieve new milestones of growth and profitability for your Company.
Gautam N. Mehra
Chairman and Managing Director