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Elecon Engineering Company Chairman's Speech > Engineering - Heavy > Chairman's Speech from Elecon Engineering Company - BSE: 505700, NSE: ELECON

Elecon Engineering Company

BSE: 505700|NSE: ELECON|ISIN: INE205B01023|SECTOR: Engineering - Heavy
Jun 15, 16:00
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Mar 06
Chairman's Speech (Elecon Engineering Company) Year : Mar '10
Barely fifty years ago, the worlds environment was largely in balance.
 Modern man in the name of progress has polluted his way towards a
 global catastrophe. The starkness of environmental degradation looms us
 everywhere. We have been preposterously spoiling it bit by bit and now
 the rate of our exploitation is becoming too much to handle for the
 environment and it has slowly started giving up. The insane selfish
 activities of humans like deforestation, bottom trawling, and wide
 spread pollution (toxic and non toxic as well as ground, water and air)
 has led us to a point where working in unison to protect it is our only
 We here at Elecon believe that it is the right of our children and
 theirs to witness the environment in all its glory, which unfortunately
 we just read about now because of our actions, Having awakened to the
 facts for over 35 years now we have made it the theme of our
 publications spread the message to preserve the environment.
 Through this, we would like to request you once again to show
 environment concern and be a step ahead in preventing the deterioration
 of our mother nature.
 Lets Preserve Our Environment
 - Board of Directors
 From left to right : Shri Chirayu R. Amin, Shri Prashant Amin, Shri
 Prayasvin Patel (Chairman and Managing Director), Shri Pradip M. Patel,
 Shri Hasmukhlal S. Parikh and Dr. Amritlal C. Shah
 Elecon at a Glance
 Elecon is one of Indias largest manufacturers of Material Handling
 Equipments, providing a wide product range that are only being offered
 by a few companies throughout the world. We are also amongst the
 largest manufacturers of Industrial Gears and Power Transmission
 products in India and are the supplier of choice when it comes to
 customized gears. Our expertise in the manufacturing of gears helps us
 to manufacture wind turbine gearboxes for the alternate energy sector
 and we enjoy a significant presence both in India and abroad. Elecon
 has designed and implemented several landmark projects throughout the
 globe and is a well respected name in the products and services it
 With more than 50 years of experience combined with superior state of
 the art infrastructural facilities and a highly skilled work force, we
 are able to successfully decipher the changing requirements of the
 industry and provide them with superior products from time to time.
 We successfully cater to, and enjoy a respectable position in core
 sectors like Steel, Fertilizer, Cement, Coal, Lignite, Iron Ore Mines,
 Power Stations, Sugar, Chemical, Fertilizer, Plastic Extrusion and the
 Rubber industry.
 This year we are proud to be associated with the Indian Navy by
 providing them with CODOG gearbox for their new generation stealth
 warship, the INS Shivalik. These gearboxes are made in technical
 collaboration with Renk Gmbh, Germany, world leaders in marine gear
 technology to meet the stringent requirement of quality and
 We are committed to technological enhancement and industrial prowess
 which gives us the motivation to always strive harder and harder to
 attain new technological milestones, to stand true on our maxim Always
 a step ahead in technology.
 Chief Financial Officer Shri Hemendra C. Shah
 Shri Paresh M. Shukla
 State Bank of India Bank of Boroda EXIM Bank of India Axis Bank Limited
 Citi BankN.A HDFC Bank Limited IDBI Bank Limited
 Thacker Butala Desai
 Chartered Accountants
 Registered Office Anand Sojitra Road Vallabh Vidyanagar-388120 Gujarat,
 - Management Insight
 Our expertise in engineering industries is giving us an opportunity to
 expand our global presence and to create a relationship across the
 globe to spread our maxim of being Always a step ahead in technology.
                                                     - Prayasvin Patel
                                          Chairman & Managing Director
 The ever growing market needs effective strategies formation and
 speedy execution. Our openness to changes helps us in marching towards
 our commitment of becoming a complete solution provider in the
 engineering industry. Combined with a robust team spirit we are able to
 flow the clients needs while attaining a winrwin situation for our
 customers and stakeholders.
                                                      - Prashant Amin
                                               Elecon- Group Director
 We endeavour to think ahead and prepare for the future. We will remain
 focused on our disciplined approach to manage our capital base
 efficiently in a manner that leads to a high return on equity and
 continual enhancement of stakeholdersvalue.
                                                        - Hemendra Shah
                                      Vice-President (Commercial) & CFO
 With fluctuating input costs, the key to stability and growth is
 speedy completion of projects. We are committed to work towards this
 goal and further strengthen our team to achieve excellence in project
                                                        - G.S. Kaira,
                                                    CEO, MHE Division
 After darkness of recession, the dawn is really breaking out and the
 Indian Industries have started with a real boom. In Steel, Sugar and
 Infrastructure Sector, as well the need of Power and that too of green
 energy is being felt by each one of us, for which many new players are
 emerging out, though a bit late in the race where Eleconsdreams are
 also coming true after a lot of tough waiting.
                                                     - Vilas Kalyankar,
                                                    CEO, Gear Division
 - Corporate Social Responsibility
 We at ELECON believe that its one of our core responsibility as a
 Corporate to give back to the society in which we operate. Year on year
 we have been actively involved in upliftment activities focusing
 majorly in the areas nearby apart from employees development
 Our yearly commitments include developmental activities in Indiranagar
 (the village that we have adopted) near Napad, maintenance of the
 Bhanubhai and Madhuben Patel cardiac centre that was built by us at
 Shri Krishna Hospital along with other medical facilities, we
 contribute in a positive way to 3 schools and 3 parks that we have
 built in and around Vallabh Vidyanagar, Gujarat.
 Through our social service wing ELCARE and ELF we try to reach out and
 offer help wherever possible. Some of our community involvement this
 year were:
 Mega Blood Donation Camp:
 India needs around 400 million units of blood each year out of which it
 is only able to collect around 5 million units.This leads to a severe
 shortage of blood and in many cases deprives people in acute need of
 it, causing fatalities. We organize blood donation camps with the IRS
 (Indian Red Cross Society) on a regular basis for our employees and
 organized a Super Mega Blood Donation Camp for everyone to come and
 donate for this cause. We were able to successfully collect 1067 Units
 of blood in a single day which is a record number for collection in
 Anand and Kheda District.
 Scholarship to Students:
 We believe that right education is the foundation that the India of
 tomorrow will be built upon. So, not letting money be a constraint for
 the deserving students to pursue higher education, we give scholarships
 to meritious students that cover their food, hostel and tuition fees.
 The selection is made by considering the financial situation of the
 applicant amongst other things. Last year we offered 45 scholarships
 with the number set to increase to 60 students this year.
 Apart from these, we have also actively participated in various other
 small activities like donation of computers to a school in a nearby
 village, organizing various sports events, organizing various cultural
 events and creative activities, helping a school for the differently
 able (visually impared) children, providing training to students to
 help them develop a good and thorough understanding of their fields of
 education and reaching out to other societal causes through our social
 service wings EL CARE and ELF.
 - Material Handling Equipment Division
 With around 6 decades of experience Elecon has grown to become the
 single largest company having a composite range of almost all types of
 Bulk Material Handling Equipments and products to choose from. We were
 one of the first companies to introduce the concept of mechanized bulk
 material handling in India and have supplied hi-tech material handling
 equipments to core sectors like Steel, Fertilizer, Cement, Power, Coal,
 Lignite & Iron ore Mines and Port Mechanization across the globe.
 Designed, manufactured, supplied and erected a 7.5 kms relocatable-type
 Belt Conveyor System in Thailand
 Designed, manufactured, supplied and erected a 70 kms long conveying
 system at Neyveli Lignite Corporation
 Manufacturing Strength
 The division has a manufacturing facility spread over 1,17,000 sq.
 mts., housing CNC machine tools for manufacturing and state of the art
 test equipment for quality control.
 Elecon made a technical collaboration with M/S CKIT Conveyors Engineers
 - Johannesburg, SA. Through this collaboration Elecon will avail
 technical support in Pipe Conveyor, Long Distance Through Conveyor,
 High Speed Conveyors and Curve Conveyors.
 Noteworthy Achievements
 Various orders worth Rs. 608 Mn received fromTecpro Systems Ltd.,
 Chennai for the supply of unidirectional bucket wheel
 Net Sales for MHE Division increased by 10.66% from
 Rs. 5607 Mn in
 2008-09 to Rs. 6205 Mn in 2009-10
 type stacker cum reclaimer, supply of equipment for coal handling
 package (including stacker reclaimer), supply of Slewing and Luffing
 stacker, bucket wheel type reclaimer and drive units, supply of
 reversible bucket wheel type stacker cum reclaimer with hydraulic drive
 and its spares and drive units and its spares.
 Order worth Rs. 199.9Mn received from ABG Cement, Mumbai for the supply
 of stacker and reclaimers.
 Orders worth Rs. 165 Mn received from Anrak Aluminum Ltd. Hyderabad for
 the suppy of equipments for coal & limestone handling system
 Co-generation Power Plant at Rachapalli village, Visakhapatnam, A.P.
 Growth Drivers
 The demand for infrastructural projects has always been amongst the top
 agendas of the government and will remain the same, which results in
 high demand for material handling solution.Thanks to the government
 policy and stimulus packages, more and more investments are expected to
 pool in with the implementation of mega projects.
 An equal contribution in the growth of the MHE is from the power,
 steel, coal, ports and similar industries.
 Main Hoist Drive Gearbox For Laddie Crane
 Elecon is one of the largest manufacturers of industrial gears and was
 the first company in India to introduce modular design concept, case
 hardened and ground gear technology. Elecon is the gear supplier of
 choice to core sectors like Sugar, Cement, Steel, Fertilizer, Plastic
 Extrusion and Rubber. Elecon was the first industrial gear manufacturer
 in India to achieve ISO 9001 in 1994, the first to achieve ISO
 9001:2000 in 2001 and again the first to achieve the ISO 9001:2008
 version in 2010.
 Manufacturing Strength
 The manufacturing facility at Gear Division of Elecon is one of the
 largest in Asia and we manufacture the largest range of gear in Asia.
 Our plant is acknowledged as one of the most modern facility and has
 received appreciation throughout the globe.
 Net Sales for Gear Division increased by 8 % from
 Rs. 3944 Mn in
 2008-09 tons, 4259 Mn in 2009-10
 Elecon is the only manufacturer in India to build MW Class Gearboxes
 and is the first one to do so. We are also the only manufacturers of
 Vertical Roller Mill Gear for the power and cement industry.
 Growth Drivers
 Our years of experience and technical expertise helps us understand the
 needs of various sectors and to provide them with superior solutions
 through which we are able to create a niche in the industry.
 - Directors Report
 Prayasvin B. Patel
 Chairman & Managing Director
Source : Dion Global Solutions Limited
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