Dear Shareholder(s),

I am extremely happy and humbled to write to all shareholders on the 29th Annual report of your Company. The Company had a successful year with strong growth in revenues over previous financial year.

I am confident that the trend of profitability will move higher and we are on the right path of making it a reality. When I look at the Company from where it all started and to now where it has been I see continuous innovation. Business cannot be static and has to keep evolving by taking advantage of the changing market. In this process business will encounter challenges which also present opportunities. The Company has also had its share of difficulties in the past and has fought hard to keep pace with the changing industry landscape. Your company has gained vast amount of experience in this industry and has always strived to stay ahead of the learning curve by developing new ways to operate in the business environment. This new experience and learning has given us the confidence and vigour of renewing ourselves and to pursue opportunities and touch new heights by manufacturing products that meet customer needs and stay cemented by improving quality and serviceability.

Business in the modern world has evolved and got even more competitive with new opportunities' emerging at every step to be seized. In lieu of this it is highly imperative for companies to make the right investments whether it is products, people or technology and at the same time maintain a balance between each of these variables and keep risk management in-check. A mixture of these ingredients and being customer-centric helps in creating products that will suit their requirements and ever increasing customer demand. I can confidently say that the Company is implementing best practices that make the future for your company more promising. For the year ended 31st March 2018 your company posted Standalone revenues of Rs4,736 Mn which is a year on year growth of 10%. We will continue to remain prudent in our investments in both technology and products and also focus on increasing our shareholders value and returns profile. As I look at the years to come by, I can see the emerging opportunities for growth starkly in front of us. The fundamental changes that the Company has implemented will help to regain lost market share and I am excited as I have begun to see the fruits of our efforts. I look forward to you my fellow shareholders to be a part of this progress and milestones as we create new heights for the Company.