Text on Review of CEO of ODEL (Pvt) Ltd CEO of Odel (Pvt) Ltd. Mrs.

Otara Gunewarthene, She is the founder of Odel and served as a CEO since inception. Regarding companys performance and control. While we refer the review of CEO, she highlighted During the fiscal year top line sale rose by 15.9% to reach Rs.4.5 billion as compared to Rs 3.9 billion in the previous financial year. As she stated total revenue is increased by 15.9% but the total investment and equity increase rate is very higher in the year of 2013 compared to 2012 and the cost of sale is also increased by in the year of 2013. Therefore profit company share is less than the previous year. Further she stated that Unfortunately Company experienced an erosion of our gains of the first nine months with the introduction of the VAT that imposed on the retail business earning over Rs 500 million a quarter. Due to the limited option to pass on the effect of the VAT on our existing inventory within the 4 th quarter we saw a high impact on the bottom line margin which as result affected our bottom line. However, we are confident that we will able to overcome these changes and fine tune our product offer, taking the new regulations in effect and overcoming challenges to the end of 2013. The company administration has to go towards a challenging period to overcome the effect of VAT through implementing effective regulations. It may be Outsourcing ideas and through some agreements with material suppliers, Managerial alterations. Since, it is mentioned that the Odel team has shown rare commitment in growing with the company and the company in turn has responded by enhancing employees skills to match its swift rise , they can overcome this challenges in future.

Delivering Innovation she stated regarding innovation is very impressive because she stated that Odel is a brand that has never stood still and as a result, during this year too we pioneered various concepts in shopping and created a never-ending buzz around the Odel brand. The excitement of retail is the whats next? question and we at Odel are constantly exploring how we enhance shopper experience; how we can add the extra touch to drive sales and delight customers. This remains my personal goal and Odels vision Therefore the Odel team succeed on this challenge. As CEO said the company should focus on marketing strategy and make modification on the retail business terminals.