Calcom Vision Ltd

Dear Shareholders,

I hereby present the annual performance report of your Company for the financial year 2023-24 (FY24). It has been a monumental journey for Calcom across decades, as it continues to grow from strength to strength. In an ever-evolving global business landscape with downside risks such as geopolitical upheavals, high input costs and supply chain disruptions, we have remained resilient and focused on our long-term growth objectives.

Performing with vision and passion

India continues to be one of the world's fastest growing major economies, with rapid urbanisation, infrastructure creation and improvement in the quality of life of a vast section of the population. The country's manufacturing prowess and prominence of India-made brands in global markets has also been acknowledged. The government's initiatives, such as the Production Linked Incentive (PLI) Scheme for LED Components & Drivers and the National Policy on Electronics (NPE), aim to make India a global hub for electronic system design and manufacturing. We are excited to participate on the long-term growth potential of the Indian economy as a major superpower.

Over the years, we have not just diversified our oŒerings, we have steadily ramped up our capital expenditure across every business segment in order to serve esteemed global brands, who rely on our experience and expertise. We are taking India's indigenous expertise to the global stage. In short, we are Making in India, for the World. In FY2019-20 our cumulative capex was H 2.78 crore, which in FY2023-24 touched H 13.53. This is approximately 5 times growth in capex, the benefits of which will be visible in the coming years.

We have diversified our product portfolio to include outdoor lighting, solar lighting and Electronic Manufacturing Services (EMS), enabling us to tap into emerging markets and opportunities. Our team's collective eŒorts have been instrumental in maintaining our performance, and we have strengthened our team to better adapt to market changes and drive innovation.

Foraying into global markets

We are focusing on the Eastern and South Indian markets, and we aim to extend our footprint into international markets, particularly Europe and the USA. Our strategic partnerships, such as our joint venture with Taehwa Enterprises, have facilitated innovations such as BLDC Fans and Drivers, driving continuous product innovation.

Building a sustainable business

We remain committed to sustainable operations and corporate social responsibility. We integrate eco-friendly practices and energy-e"cient processes throughout our operations, focusing on reducing our carbon footprint and promoting renewable energy.

Our community-focused initiatives support education, health and eco-friendly programmes. On the other hand, we invest in continuous learning opportunities and career development, which fosters innovation and contributes to our long-term success.

Envisioning the future

Our vision for the coming years is to fortify our position as a global leader in energy-e"cient and sustainable solutions.

We will continue to drive innovation, expand into emerging markets, and leverage best-in-class technologies to meet evolving customer requirements.

We have undertaken many initiatives, which include launching new products such as solar street lights, solar inverters, and other solar products in FY25, maintaining operational excellence, and strengthening strategic partnerships. Our collective eŒorts, strategic capital investments and commitment to sustainability will enable us to amplify value for all stakeholders.

Vote of Thanks

In closing, I would like to extend my heartfelt thanks to our dedicated employees, whose hard work and commitment have been the cornerstone of our success. I am also grateful to our valued customers, partners, and stakeholders for their continued trust and support. Your confidence in Calcom is a driving force behind our ongoing eŒorts to achieve excellence and innovation. Together, we will continue to build a brighter and more sustainable future.