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Kirloskar Electric Co Ltd.

BSE: 533193 | NSE: KECL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE134B01017 | SECTOR: Electric Equipment

BSE Live

Jul 09, 16:00
12.80 -0.15 (-1.16%)
Volume
AVERAGE VOLUME
5-Day
31,624
10-Day
40,637
30-Day
21,095
15,531
  • Prev. Close

    12.95

  • Open Price

    13.49

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Jul 09, 15:50
12.75 -0.20 (-1.54%)
Volume
AVERAGE VOLUME
5-Day
113,703
10-Day
104,494
30-Day
66,786
61,641
  • Prev. Close

    12.95

  • Open Price

    12.95

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2015 2014 2013 2012 2011 2009 2008 2007

Chairman's Speech

Dear Shareholders,

The year 2017-18 continued to be another challenging year, Indian economy is projected to grow at a lower than expected rate due to the “transitory effects” of goods and services tax (GST). Implementation of the GST had led to a downward revision in 2018 growth projections. Industrial investment has remained weak, very few new projects or expansions are happening in Core sectors viz, Cement, Steel, Sugar, Infrastructure and also in solar sectors and Real estate. We are taking a cautious approach for our inverter duty transformers due to inconsistency observed in the power tariff. The sluggishness in real estate industry has severely impacted our monetization efforts.

We have successfully managed the operational and supply chain transition to comply with the Governments quality control order that permits only the manufacture and sale of energy efficient motors.

Few of the major achievements are:

Manufacture of large flame proof motors of 400 kW 2 pole and 560 Kw pole 6600VAC Motors.

Manufacture of 870kW 6600V 750rpm Vertical CACA in MPA500VC Frame AC Motors a/c

Manufacture of 25 MVA, ZG027/1 Transformer A/c RSP

Manufacture of 11KV slip ring rotor motor in TEFV construction 350KW, 1000RPM in SDX500FSPL frame Manufacture of 4000kW 1000 RPM 6600V Wound Rotor AC Motor for Cement plant.

Completed the design, development and successful testing of IP45 Enclosure for 2750kVA Cast Resin Dry Type transformer

Further your company has taken the required steps for continuous optimization of manufacturing and operational costs and the break in levels. Exposure to unsecured loans has been drastically decreased.

German Subsidiary''s (Lloyd Dynamowerke GmbH & Co.KG [LDW]) Bankruptcy and impairment of investment has adversely affected the operations of the company for the last three years. Further there has been continuous erosion of working capital due to cash losses. Your company has been operating at much below the earnings before interest deprecation and taxes (EBIDTA) levels.

During the year under review, your company has faced strong challenges and has tried to mitigate those using its core strengths in design and development, robust manufacturing practices, focus on the suitable market segments and also entering the new markets. Your company has been taking all the possible steps to mitigate the losses. Your company''s order booking continues to be strong.

Your company is now undertaking restructuring of loans and as such has also approached the financial institutions for working capital infusion. Further the company is also planning to augment its working capital by monetizing the noncore and surplus assets. These efforts are expected to yield results during the current year and the operation levels will improve. Your company will continue with rigorous efforts to cut the costs, increase the operational efficiency, increase in productivity and also improving skills of human resources by undertaking a number of measures.

I express my sincere thanks to all the shareholders, lenders, banks, financial institutions, customers, dealers, vendors and all other stake holders for their support extended. I express my sincere thanks to all the employees of the company for their hard work and support extended during these trying times.