Omfurn India Ltd IPO

OM Vishwakarma Furniture Private Limited as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated November 13, 1997 issued by the Registrar of Companies Mumbai, Maharashtra. Subsequently the name of the Company was changed to Omfurn India Private Limted vide shareholder's approval on April 03, 2013 and fresh certificate of Incorporation dated April 21, 2013. Subsequently, the name of the Company was changed to Omfurn India Limited pursuant to conversion into public company vide Shareholders approval on May 30, 2017 and fresh certificate of Incorporation dated June 15, 2017 was issued to the Company by the Registrar of Companies, Mumbai, Maharashtra. The Corporate Identification Number of the Company is L20200MH1997PLC111887. The shares of the Company got listed with Emerge Platform of NSE Limited through Initial Public Offer on October 13, 2017.

GLOBAL ECONOMY AT LARGE The baseline forecast is for global growth to slow from 3.5 percent in 2022 to 3.0 percent in 2023 and 2.9 percent in 2024, well below the historical (2000-19) average of 3.8 percent. Advanced economies are expected to slow from 2.6 percent in 2022 to 1.5 percent in 2023 and 1.4 percent in 2024 as policy tightening starts to bite. Emerging market and developing economies are projected to have a modest decline in growth from 4.1 percent in 2022 to 4.0 percent in both 2023 and 2024. Global inflation is forecast to decline steadily, from 8.7 percent in 2022 to 6.9 percent in 2023 and 5.8 percent in 2024, due to tighter monetary policy aided by lower international commodity prices. Core inflation is generally projected to decline more gradually, and inflation is not expected to return to target until 2025 in most cases. Monetary policy actions and frameworks are key at the current juncture to keep inflation expectations anchored. Chapter 2 documents recent trends in inflation expectations at near- and medium-term horizons and across agents. It emphasizes the complementary role of monetary policy frameworks, including communication strategies, in helping achieve disinflation at a lower cost to output through managing agents' inflation expectations. Given increasing concerns about geo-economic fragmentation, Chapter 3 assesses how disruptions to global trade in commodities can affect commodity prices, economic activity, and the green energy transition. INDIAN INDUSTRY OVERVIEW Strong economic growth in the first quarter of FY23 helped India overcome the UK to become the fifth-largest economy after it recovered from the COVID-19 pandemic shock. Real GDP at constant prices (2011-12) in the first quarter of 2023-24 is estimated at Rs. 40.37 trillion (US$ 484.94 billion), showing a growth of 7.8% as compared to the first quarter of 2022-23 estimated at Rs. 37.44 trillion (US$ 449.74 billion). Given the release of pent-up demand and the widespread vaccination coverage, the contact- intensive services sector will probably be the main driver of development in 2022-2023. In 2023-24 (April-September), India's service exports stood at US$ 164.89 billion. Furthermore, India's overall exports (services and merchandise) in 2023-24 (April-September) were estimated at US$ 376.29 billion. Rising employment and substantially increasing private consumption, supported by rising consumer sentiment, will support GDP growth in the coming months. Future capital spending of the government in the economy is expected to be supported by factors such as tax buoyancy, the streamlined tax system with low rates, a thorough assessment and rationalisation of the tariff structure, and the digitization of tax filing. In the medium run, increased capital spending on infrastructure and asset-building projects is set to increase growth multipliers, and with the revival in monsoon and the Kharif sowing, agriculture is also picking up momentum. The contact-based services sector has largely demonstrated promise to boost growth by unleashing the pent-up demand over the period of April-December 2022. The sector's success is being captured by a number of HFIs (High-Frequency Indicators) that are performing well, indicating the beginnings of a comeback. India has emerged as the fastest-growing major economy in the world and is expected to be one of the top three economic powers in the world over the next 10-15 years, backed by its robust democracy and strong partnerships. India's appeal as a destination for investments has grown stronger and more sustainable as a result of the current period of global unpredictability and volatility, and the record amounts of money raised by India-focused funds in 2022 are evidence of investor faith in the Invest in India narrative.

Omfurn India Limited is manufacturer and supplier of Pre-Finished Wooden Doors and Modular Furniture in India. The Company has been in business since November 13, 1997, which gives us a quarter-century of experience in this industry. Since then, it has been reaching remarkable milestones in creation and innovation. The Company creates a wide range of wooden doors and furniture for Modular Kitchens, Wardrobes, Vanities and Modern Office furniture through customized, system-based, or turnkey projects PAN India, got listed in NSE the year 2017.