As we all know, the Government of India has set the concept of Make in India. Though investment momentum has not reached in some of the sectors in which your Company is functioning, the positives are expected to emerge considering the subsidy reduction, inflation containment, GST initiatives and various fiscal measures which will increase the investment in infrastructure sectors.
As such, the Global economy is not offering any encouraging scenario due to depressed crude oil price and for various other reasons, but India is expected to progress well due to good monsoon. India''s GDP growth is expected to be above 7.5%.
The Make in India concept is expected to provide infrastructure developments and your Company is expected to gain from the said concept.
Your Company is providing very specialized Turnkey / Composite construction solutions for Civil, Mechanical, Electrical, Instrumentation, Insulation, Refractory and commissioning services under one roof in the areas of Power, Cement, Refinery / Oil & Gas, Fertilizer & Petrochemical, Steel Plants and other process plants.
Since crude oil prices have remained low, the investment in new crude oil refinery are on the way. However, the Government of India''s initiatives on Climate change, the investment in clean fuel project is likely to give opportunity in Oil Refinery Sectors.
There is also possibility of capacity additions in existing Fertilizer Plants as the demand from Agriculture Sector is expected to grow.
Quality & Safety will continue to be our key priority and we will constantly provide safe & best services to our prestigious clients. We will strictly adhere to Integrated Management System with applicable International Standards.
I would like to thank my fellow Board Members for their guidance & commitment. I would also like to thank the employees at all levels, involved either directly or indirectly with the projects.
I am thankful to all our bankers for their support. Finally, I would like to thank all our stakeholders, customers, suppliers, vendors and the various Governments and regulatory agencies for the support extended to us in such challenging times and I hope to continue to receive your support in the future as well.
Ajay Hans Managing Director
Mumbai, 31st May, 2016