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The Indian Wood Products Co. L Ltd.

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Annual Report

For Year :

Chairman's Speech

From the Desk of Chairman

Dear Fellow Shareholders,

It is with great delight and a sense of profound satisfaction that I present the 98th Annual Report of your company. IWP was established in the year 1919 and that we are reaching towards our journey of 100 years in next year. At this juncture, I place on record my deep gratitude to all the shareholders for such a long association and making your company a leading Katha manufacturer in India. I immensely value your trust and we would endeavour to live up to your faith.

The global economy is growing at its fastest pace post 2010. The world economy is expected to strengthen further in 2018 and 2019, with economic growth projected to rise to about 4%, from 3.7% in 2017. Indian economy has maintained strong growth in FY 2018 - the Gross Domestic Product growth was 6.7%, with a strong 7.7% increase in the last quarter of the year. With the ''One Nation, One Tax'' GST regime being implemented, and gradually stabilising by the second half of the year, the economy witnessed upsurge in investments, consumption, as well as government spending.

At IWP, we have again delivered outstanding performances on both financial and operational front. During the last year, the IWP team has produced outstanding results. I take this opportunity to share with you the Company''s performance this year along with some key business highlights as under:

Financial Highlights (April -March) FY2018

* Consolidated revenue for the year is INR 21959 Lakhs, as compared to INR18836 Lakhs in previous year.

* EBITDA is INR 3447 Lakhs for FY2018, as compared to INR 2360 Lakhs in previous year.

Business Highlights

* Our Business grew by 17% over FY2018.

* Our operational performance at our all production units were excellent.

I am also pleased to share that the shareholders now is having an active trading platform for trading in the equity shares of the Company on BSE Limited as the Company''s equity shares have been listed and admitted for trading on BSE Limited (BSE) w.e.f February 21, 2018.

We''re proud of our accomplishments, but we want to do far more. We are not merely trying to continue to be a leading manufacturer of Katha in India. We want to setup new industry benchmark through our Research and Development (R&D) initiatives. Towards this end, we have started the commercial production of from gambler through solvent extraction at PT Sumatra Resources International, at Pangklan, West Sumatra Indonesia, a unit owned by our joint venture company namely Agro and Spice Pte. Ltd., Singapore. 100% production from this plant will be imported and consumed by our Company for manufacturing of better quality Katha.

Further, we are also going to set up a New Katha manufacturing unit at Jammu & Kashmir. SIDCO (A J&K Govt. Undertaking) has allotted 35 Canals of land in the State of Jammu & Kashmir in Sambha District for setting up the manufacturing plant. We are in the process of getting regulatory clearance for our proposed plant. In the coming years, we will be focusing on expanding our R&D and manufacturing capacity.

We are also diversifying our business in processing of different spices. A feasibility study for the same has been completed and we are in the process of launching of the spices under our brand name '' IWP''.

As a corporate citizen, we strive to conduct our business in a manner that is sustainable and inclusive. We work to protect the planet and respond to important social issues. We are committed to a clean environment, thus, always ensured best of measures are implanted for environmental safety across all our operational units.

IWP believes in the shared value creation and inter dependency of business and society at large. IWP is committed to social development and progress of the society and wish to make a positive difference in the society and lives of people. In the last year, we have spent INR. 20.30 Lakhs for maintaining quality of soil, health care and swatch bharat as our CSR expenditure.

Our employees are our core resource and we are continuously evolving policies to strengthen our employee value proposition. I thank our employees for their dedication and commitment to the Company.

Sharing the past one year with you has inspired hope and confidence about the future. Looking forward, we only see greater opportunity ahead as we increase our capacity and diversify our activities.

I wish to thank each one of you for your continued support and confidence in IWP and the Board of Directors for their guidance. We continue to stay focused and build a strong business at IWP as we solicit your unstinted support.

Yours Sincerely

K. K. Mohta

Date : 31st July, 2018

Chairman & Managing Director

Place : Kolkata

DIN : 00702306