Namaste. Immensely overwhelmed by your patronage! Your faith on us actually prompted us to scoop out our hidden potential and natural instinct to stay afloat in deep & drifting waters. Your company have actually stood out uncommon amongst the peers in the industry.
While the whole of Indian Wind Industry was flabbergasted on tragic end of feed-in-tariffs, Gujarat, a torch-bearer for Renewable Platform too got ruffled on prices/bids/ capacities/RPO, we took some distinct and precise changes in the year 2018 -
Change Site to suit the Requisite! - Immediate work on acquisition of new sites close to Central Grid within Gujarat where it had no presence, as it was must to feed SECI bids.
Change Scale to fit the Whale! - Scout & plan each site of ~300MW and in multiples instead of its size of 30-50MW in last decade, must to fit large capacity bids.
Change Order to hit the Border! - Growth & scalability would not be accomplished with one OEM, had tied up and signed business pacts with world class players - GE & Senvion.
Change Class to beat the Blast! - Drew and led a consortium with FII to bid lowest tariff of Rs. 2.43, demonstrated that even on small projects, tariffs can be most competitive!
Change weapons and not the warriors! - With almost same team mates & tools, but change in style, process and practices, company will multiply delivery within dates.
The post mortem of Annual Results of 2018 certainly unfolds many great lessons - few worth sharing with you are:
1 .Topline of EPC revenues will keep changing, secure bottom line. Your company have started acting on the measures.
2. I lluminate growth drivers, profits would automatically brighten. Your company has given core attention to win & whip projects through addressing key elements which are pain points of clients, meeting expectations from both ends
3.Cash-flow is vital to propel growth, invest on liquid assets. Yes, when topline declines or when industry encounters lull hours, it is vital to invest of immediate opportunities to overcome existence challenges.
Today, we are back on driver’s seat. Current Year trends too are very encouraging. Our top, bottom and middle, all lines are reverberating. From almost 30MW in entire last year, we are queuing up multiplication this year. Mahuva definitely went too slow on execution with devastating floods & groundless unrests, but demonstration of team spirit and skills went upright with a quick execution of 2.5MW proto of technology amidst many challenges. This WTG will be used at first 300MW project site at Gadhsisa, Kutch. Plantation drive of the team was honoured by none other than Prime Minister of India, Shri Narendrabhai Modi, and many other dignitaries.
This year will see completion of 50.4MW Torrent Project rolled over from last year. Efforts are also laid to see completion of major actions on 31.5MW project won under bid at Mahuva-II. The actions at Kutch in early commissioning of the power evacuation and other challenging activities on SECI bid would drive the topline of the company.
I do recollect one of my question to Finance Minister of India in a CEO Conclave, organised at Vibrant Summit, Gujarat 2015 where I asked, when India needs wind energy (being majorly indigenised) to bring energy security & environment benefits, why it is added only in MWs every year? With bids of 2GW in series and in flow, I get answer by actions for energy vitality of my Country & all stake holders of Industry.
I see many avenues meeting the milestone targets of 31st March, 2019. This year, shall not only make up the unachieved dreams of 2018 but will set pace & pathways for your company to cross the expected top line mark of Rs. 5 billion gross & expected bottom line mark of Rs. 1 billion by next year.
I do recollect a lesson from preaching of Swami Vivekananda -
“Persevere on, my brave lads, We have only just begun, Never despond! Never say enough!”
We shall persevere on our goal to make this world a better place to live.
Ashish A Mithani