Dear Shareholders,
It gives me immense pleasure to present the annual report of Virtuoso Optoelectronics
Limited with you.
Virtuoso Optoelectronics Limited (VOEPL) started its operation with a small investment
and a team of handful people in Electronics Manufacturing & Assembly almost a decade
ago. Over the years, it gives me immense pleasure in sharing, that we have grown in
strength and size. We continuously strive to learn from our experiences and grow with the
guidance and support of our customers and stakeholders.
We are developing new products & venturing into new product categories, to help the
company have a stronger base and to be able to cater to a wider customer base. We are also
strengthening our ODM capabilities in line with the expectations of our customers in both
electronics and appliances.
The company has delivered strong revenue growth of nearly 69% year on year led by
growth in volumes from existing businesses (EMS, LED, AC-IDU & Components) as well as
from new products added during the year (AC-ODU & Water Dispenser). We are hoping to
continue our growth trajectory in FY25 and FY26 led by further expansion in our
manufacturing capacities, backed by strong demand for our products from leading customers.
The new manufacturing unit for commercial refrigeration is expected to be operational in
H2 of FY25, increasing the product offerings by the company significantly.
Company has raised capital by a preferential issue for funds during the year, as
required by the company to fuel the planned growth. We will be utilizing proceeds
primarily towards addition of fixed assets and working capital to meet the increasing
working capital requirement with the increase in sales.
We intend to continue working towards the growth of the company with the objective of
strengthening our manufacturing capabilities, upliftment of society, long term
sustainability and to contribute towards the vision of Atmanirbhar Bharat.
We thank you for your continued support & confidence.
Yours Sincerely
Sukrit Bharati
Chairman & Managing Director