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Dear Shareholders,

The global economy in FY 2014-15 witnessed inconsistent patterns of growth across major geographies. India`s economic performance, however, rebounded to 7.4% under the new method of calculating GDP adopted by the government. The growth came on the back of gradually improving performance in the industrial landscape, stable growth in the services sector and a resilient agricultural sector. Inflation is now moderating and both fiscal and current account deficits are narrowing down. The government`s policy initiatives are certainly in the right direction. However, more structural reforms are needed for the US$ 2.1 trillion economy to accelerate sustainably.

The government`s `Make in India` initiative is expected to boost the confidence of indigenous manufacturers and encourage domestic expertise to make the most of the positive environment. We, at Donex, welcome the dynamism of the new government and are committed to enrich lives with our portable energy and lighting solutions.

Unrivalled Leadership

Donex continues to be the industry frontrunner in the Energy Products segment, with sales of over 3 Million LED Bulbs and 2 million Tube Lights every year. We are honoured that Eveready continues to be one of the most trusted brands to millions of people across India for generations. From India`s metros to the small cities and towns to sleepy hamlets, one brand still commands a lot of respect and recall. We promise to strengthen this trust and deliver consistent quality across all our product categories.