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Omax Autos Ltd.

BSE: 520021 Sector: Auto
NSE: OMAXAUTO ISIN Code: INE090B01011
BSE 00:00 | 24 Apr 2020 Omax Autos Ltd
NSE 05:30 | 01 Jan 1970 Omax Autos Ltd

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OPEN 26.80
PREVIOUS CLOSE 25.70
VOLUME 218
52-Week high 80.00
52-Week low 18.70
P/E 3.89
Mkt Cap.(Rs cr) 53
Buy Price 24.55
Buy Qty 100.00
Sell Price 26.80
Sell Qty 107.00
OPEN 26.80
CLOSE 25.70
VOLUME 218
52-Week high 80.00
52-Week low 18.70
P/E 3.89
Mkt Cap.(Rs cr) 53
Buy Price 24.55
Buy Qty 100.00
Sell Price 26.80
Sell Qty 107.00

Omax Autos Ltd. (OMAXAUTO) - Chairman Speech


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Company chairman speech

Dear Stakeholders

I feel privileged to communicate with you through this 36th Annual Report of theCompany.

In my last communication in 35th Annual Report I had shared some of the strategies wehad in our mind for the Company to grow in a sustainable way in coming years. I am pleasedto share that all our efforts now taking shapes. I had shared that the management has avision to double the turnover of the CV PC & Railway businesses in next 3-4 years.Due to continuous sincere and untiring efforts of the management in 2018-19 in thesethree businesses we have achieved a turnover of Rs. 660 Cr. compared to Rs. 492 Cr. lastfinancial year achieving a growth of around 34%; it's a significant achievement. I hopewith your support we will achieve doubling the turnover in these businesses in next 2-3years. Shifting our focus to these higher margin businesses has also improved our protability.

The Company has improved its PBT from Rs. 57 Lacs in 2017-18 to Rs. 515 Lac in 2018-19.As part of our strategy we have also consolidated business of 2W components for which wehad to take some tough decisions during the year. This will also help us in costrationalization and improve in profitability.

I am pleased to share that as per our strategized expansion plan we are coming up withtwo state of the art manufacturing plants in Uttar Pradesh. One would cater to the demandof our CV customer and the other would support our Railway business. We have alreadyprocured lands for these two units and commissioning of the plants are underway. We hopeto start operations in these units in next financial year.

The management has always focused on keeping pace with the fast evolving technology.Company has its own in-house R&D Centers which are effortlessly working on developingnew products for our customers. We are in verge of developing some new products for ourcustomers. In the same line the management is contemplating to develop another R&DCentre in Pune Maharashtra to cater to the product designing requirements of ourprospective and existing customers. This would go a long way in keeping us relevant andvaluable in ever-changing customer demand landscape. The management is very optimisticabout the growth prospective of the Company.

The global economy is taking headwinds lately. Also slowdown in domestic economy isvisible. Auto Industry has slowed down significantly. We are expecting a negative growththis year. We believe the steps we have taken for backward integration by setting up LongMember factory will help us to ride out the storm better. On the other hand the railwaybusiness is doing well for the Company. We have orders in hand for next 18 months. Hencewe hope we would sail across this dif cult time also. We seek support of all stakeholdersin this regard.

Last but not the least I take this opportunity to thank all the customers vendorsand shareholders for their unstinted support to the Company. Wish all the stake holders avery happy and prosperous festive season ahead.

Bharat Kaushal

(Chairman)


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