Dear Shareholders,
It gives me immense pleasure to announce that your Company Shri Venkatesh Refineries
Limited demonstrated a strong and substantial increase in performance. Our performance has
been especially impressive considering the challenges faced by the world. Overall
industrial growth remains low during last Financial Year 2022-23.It was also a year full
of uncertainties in Oil prices. Still, we achieved remarkable financial results. Our cost
management strategies, marketing strategies and operational efficiencies contributed to a
healthy Earnings Per Share, which registered a growth of 2%over the previous year.
We continue with our commitment to optimizing financial performance, ensuring
consistent returns for shareholders, and upholding our position as a trusted and
responsible player in the industry. In FY 2022-23, the Board of Directors of your Company
has recommended a final dividend of 10% of paid-up capital, equivalent to!1 per share.
This recommendation is subject to the approval of our shareholders at the upcomingAnnual
General Meeting.
At last, I would like to extend my gratitude to the various Government and Regulatory
authorities, Company's valued customers, suppliers, vendors, investors, bankers and
shareholders for their consistent and resolute cooperation and trust to make this
possible.
Thank You.
Dinesh Ganapati Kabre Chairman & Managing Director