Sunil Hitech Engineers

Sunil Hitech has grown remarkably in the past six years. From a
 turnover of a little over Rs. 2,200 lacs in 2002-03 to almost Rs.
 60,000 lacs of topline in this year. Similarly, on our profit figures,
 you can see a jump from a mere Rs. 41 lacs to almost Rs. 2,500 lacs in
 the same period. Interestingly, we have achieved this stupendous growth
 through just about a three times increase in our manpower - from 500
 people at the time to nearly 1,575 today.
 
 The obvious question is, what made it possible.  And how did we do it.
 
 
 In the last years shareholder letter, I had referred to the fact that
 what is evidently small has the potential of bringing in big growth.
 This is precisely what the Company achieved in 2008-09 by registering a
 phenomenal growth of over 93% in its turnover. True, our profitability
 was impacted as a result of the overall,economic pressure and a few
 exceptional circumstances, but that is the apparent fact.  The reality
 is that we strengthened our balance sheet by taking one time write-offs
 to ensure that going forward we have the requisite financial strength
 to build on our capabilities.  In a year that the infrastructure
 industry was severely impacted, we believe our team at Sunil Hitech has
 turned in a commendable performance.
 
 While there are numerous uncertainties in the global economic
 environment today, our optimism stems from the fact that we posses a
 strong order book and have performed satisfactorily so far.
 
 We have made signfiicant advancements in our business operations, and
 are growing our portfolio and capabilities which leverage our 25 years
 of multi-faced, quality construction expertise. Boiler Pressure parts
 upto 500 MW is an area we have forayed into, in addition to registering
 our presence in the hydro power segment.
 
 The road to Sunil Hitechs being counted among the top has shortened.
 We have set a strong foothold in the industry and are witnessing a
 strong and growing clientele base. We are now bidding for larger,
 high-margin and more complex projects. We have demonstrated our
 competency in handling big projects by undertaking Rs. 33,062 lacs EPC
 contract of for ICPP project of Gangakhed Sugar and Energy Pvt Ltd.
 GSEPL.
 
 In our pursuit of the dream of becoming a powerhouse, our employees
 will play the biggest role. We focus on acquiring, training and
 retaining skilled personnel and developing a congenial working
 environment. To this end, various additional initiatives and an
 aggressive recruitment drive are in place to ensure that we possess the
 best intellectual capital to take advantage of the opportunities that
 present themselves to us.
 
 We believe that the industry domain we have positioned ourselves in
 will continue to grow at a rapid pace, given the policy level thrust on
 improvement of the infrastructure backbone of our nation, power in
 particular. Together with this, our ability to scale up our business
 and add various service verticals, makes us a preferred partner for
 most developers of power projects.  Not only will this drive the
 topline growth, but add immensely to our ability to generate higher
 contribution.
 
 We thank our stakeholders for showing their faith and belief in the
 Company and assure that we shall continue to create value for them in
 the years to come.
 
 Ratnakar M. Gutte
 Chairman & Managing Director