Veto Switchgears & Cables Ltd

Akshay Kumar Gurnani

Managing Director

Dear and esteemed fellow shareowners,

It is quite heartwarming to present that this journey with little ups and downs resulted in heightening of our industry, which in a manner helped your organization to reach this stage. With all planned strategies and their impactful implementations, we reached at suf ciently good balance sheet.

Despite all the economic scenarios in the market, Veto tried its level best to not let situations act as hindrance in the functioning and implementation of strategies. As said by George Matheson, "We conquer by continuing." We stuck by our plans and tried to maximize our potential to reach the decided goals. It was a situation where industry faced macroeconomic environmental effects, which led to a certain level of in ation in materials yet with all strategical alliances your company conquered the same.

From the past years, your company is trying to expand and grow in a manner which keeps in mind the wants and demands of its customers. With a view to this, your company resulted with consolidated revenue of Rs. 29551.09 Lakhs for the F.Y. 2022-23, this is near to 9.29% growth on Year-on-year basis. Profit after Tax is Rs. 2045.36 Lakhs this is magni ed on Year-on-year basis. Further your company has achieved EBIDTA of Rs. 3801.91 Lakhs this has been burgeoning growth for the financial year 2022-23.

The human resource management activities are of immense importance when it comes to attain organizational goals, your company also tries to utilize resources in optimum way, works in efficient way to fulfill all corporate needs of the industry. It is rightly said that success isn't always about greatness, it's about consistency. Consistent hard work leads to success, greatness will come.

A positive working environment is a workplace that promotes employee safety, growth and goal attainment. These environments are most conducive to a successful workforce as they encourage employees to perform to their highest ability.

In these dynamic situations where in ammation took place and other macro environmental activities were rising, your company took all possible measures and tried to overcome it and healthy balance sheets are the results of these efforts.

I am elated to inform you all that your company not only grew in monetary terms but also enhanced its distributions channels via different cities, which in return helped your company to retain customers in different zones.

This all has not been possible without your unconditional, constant support and cooperation, I am Thankful to all for keeping their trust in the company.