When the going gets tough, the tough get going. Our team firmly believes that any situation can be met with team work; which by itself is epitomized by the principles of 3Cs namely Collaboration, Cooperation, and Creative Endeavor. When we collaborate and cooperate, everyone wins.
The turbulences caused by structural reforms seem to have calmed down now. After turning the corner, the country seems to be picking up speed along a faster growth track; by any reckoning, the country is set to retain its position as the fastest growing major economy for years into the future. Yet with our heads high rmly on gro vcund, despite such challenges, yourand feet tscompany grew its turnover by 10.55% and operating profits (EBITDA) by 60% in FY18. And to top it up Veto attains a sustainable growth rate of 31.88% this year was the cherry on the cake.
Most macro trends in our sector are looking up including the tax revenues, gross capital formation & the demand is gathering momentum. Investment has gone up worldwide - in infrastructure, the automotive sector, the electrical industry, regenerative energy projects and in oil and gas pipelines. And the upstream supplies industries wire, cable and pipes have substantially benefited from this development.
The company as promised launched its new Product range ‘VYOMA’ for Modular Switches including Sockets, Regulators, Modular plates, MCB’s,. The launch was highly appreciated including an order of Rs. 25 Crore.
Also, We have increased the Basic import for Lighting segment this year by about 40 times. We are looking ahead of taking this as an opportunity of growth of business of the company. Whereas, this year the export of Electrical accessories has witnessed a whopping 62% growth rate.
Future is all about team work, collaboration, and cooperation. Different functions, departments, teams, and individuals in the organisation have collaborated together to deliver world class manufacturing facilities, operational efficiencies, and have set benchmarks in project execution. For us at “VETO”, this word ‘together’ has larger meaning as it pertains to not only the company and its people, but includes its other group associates, their people, all the stakeholders, the community and the environment. If together we have come this far i.e. growing from a modest business of Rs. 24.97 Crores in 2007-08 to more than Rs. 123.80 Crores now, collectively we can go even farther. Even for the country, with ever increasing focus on democratic values; and cooperative & collaborative federalism; the word together has far deeper meanings and insights. With India considerably improving its international ranking and the states competing between themselves on ‘Ease of Doing Business’, there can never be a better opportunity than this to collaborate, cooperate, and work together to take the next big leap.
By continuing with our goal of “Absolute Light “we ensure to serve our customers better and delight them everyday.
As, we take bold and firm steps into the future, I would like to express my utmost gratitude to all our customers, shareholders, channel partners, business associates, Financial institutions and all our employees who have bestowed their confidence and faith in us. Their continued trust and invaluable support motivates and inspires us to keep delivering a concrete performance year after year.
With warm regards,
Akshay Kumar Gurnani
Managing Director & CEO
DIN : 06888193