Vama Industries Ltd

Dear Stakeholders,

Greetings!

This is indeed the time, I feel, for me and my team mates on the Board and other colleagues to share with all of you, the journey we have traversed during the year gone by. I take this privileged opportunity to present certain key glimpses of our Company's performance, its financial position, its industry positioning and the various opportunities before it.

When I peep into my previous year's message, I recollect statements made to you as regards our performance and the growth story thereon. The financial figures of 2018-19 shows a decreasing trend when compared to financial figures of 2017-18 mainly because of the economic slowdown, both at national as well as international level, coupled with various economic and political factors. This slowdown has led to a negative growth for the Company during the FY ended 31st March, 2019. Our business depends largely on government orders, especially defence sector. As you are aware, we were gripped with election mania for considerable part of the previous Financial Year, as we witnessed assembly elections and general elections that concluded during May 2019. In the said scenario, the government orders were kept largely on hold, which impacted our revenues during the Financial year under review.

However, in the backdrop of a stable government, at state as well as national level, we feel upbeat to state that financial year 2019-20 would be path breaking for the Company.

To have territorial reach, we have our offices in Bengaluru and New Delhi also. Our wholly owned Subsidiary in Singapore is running successfully. As the company has its presence at the national and international level, it helps the Company to bridge its gap between the Company and its Clients located overseas.

VAMA has increased the sales and marketing activities for the international market especially for the Engineering Services and ITES business. Vama is working on IOT Project with Machine to Machine Communication. We are confident that with the increase in sales and marketing activities, our international business will grow

VAMA has been implementing projects all over India for Defence and Space sectors and is taking up turnkey projects. Orders which were received from ISRO & CDAC during previous year are very significant to us and based on that, we shall expand our business in different territories in India.

We are confident that with the increase in sales and marketing activities, our international business will also grow on a sustained note. I hope our strategies will yield positive results in the ensuing years and we will be able to present better and better results before you.

I would like to convey my sincere appreciation to the Board of Directors for their guidance.

I would also like to express my heartiest gratitude to all our stakeholders for their enduring faith in Vama