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Signet Industries Ltd.

BSE: 512131 | NSE: SIGIND |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE529F01035 | SECTOR: Finance - Investments

BSE Live

Dec 02, 16:00
38.00 0.60 (1.60%)
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  • Bid Price (Qty.)

    37.75 (100)

  • Offer Price (Qty.)

    39.25 (500)

NSE Live

Dec 02, 15:41
37.45 0.35 (0.94%)
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  • Bid Price (Qty.)

    37.45 (808)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012

Chairman's Speech

Dear Stakeholders,

It gives me great pleasure to share with you an update on the overall performance of the Company in 2017-18. Your company, Signet Industries Limited, has had another year of growth in the key focus area of manufacturing. GST was a path-breaking tax reform by the Central Government, which was implemented during the financial year and as expected resulted in a roller coaster ride for the economy. However, GST is favourable for organised players like ourselves, offering a level playing field. At Signet we were quick to absorb this tectonic shift and grew at a faster pace in our manufacturing segment.

With our belief of “Jal hai to kal hai”, we are committed to continued innovation, expanding the product range, and smart increase in production capacities with efficient capital outlay to benefit to our society. Signet has added focus in water transportation business and successfully achieved growth of 250% in the large-diameter and high-pressure pipeline &fittings business. The opportunity size in this business suggests an exponential growth which would primarily be fuelled by Government’s initiative of Smart city projects, conversion of traditionally laid metal/ cement pipe-lines and Amrut Yojna Projects. In a short time, Signet has emerged as one of the major suppliers of pipelines for these Government initiatives. Your company’s infrastructure has been applauded by its marquee customers and they have approved Signet as their prime supplier.

In Micro-irrigation, we thank the Government of India for proactively reducing GST from 18% to 12%. Signet has expanded its area of focus by deepening its roots in various states of operation. Company has been meticulous to choose to grow in certain Mirco-Irrigation focused geographical areas and has found success. The Company has posted a growth of over 12% in the segment and proudly maintains its position as one of the key contributors to the industry. Signet has not just been a manufacturer of the systems but has moved up the value chain to emerge as a “complete solution provider” to our farmers. The Company will continue to work towards growth in this area.

Infrastructure spend is a catalyst for any economy and India is no different, with record outlay for this segment in the recent Union Budgets. Another focus area for the Government is Agriculture, which contributes to 14% weightage to India’s GDP and provides employment to over 50 percent of the population. The Government’s commitment to double farmers’ income can be achieved by improving efficiencies at the farm level in which Irrigation is an important constituent. Thus Signet’s strategy has been to Focus on the two ‘I’s - Irrigation & Infrastructure which will provide us limitless opportunities. The Company has launched several new products this year in “building-products” segment. These products have been well accepted by the real-estate developers and trade markets. Your team at Signet has been passionately developing new products after understanding the specific needs of the Indian consumer. At Signet, our team has it’s “ears to the ground” ensuring that we stand out among competition.

Quick & Excellent implementation of our decisions at manufacturing has started showing results in the last quarter. Overall, the company has clocked a growth at manufacturing by 12% and a total revenue for all segments put together at Rs911.53 Cr. The profit of the company has also shown growth of 10.86%

As I look at the years to come by, I see immense opportunities for growth at Signet. Our team’s excellent commitment is reflected in the growth of Signet’s manufacturing business and I am excited to see these efforts getting converted into value creation for all the stakeholders.

On this note, let me take this opportunity to thank our management team, our dedicated employees, suppliers, customers, partners and shareholders for their unabated support and faith in the company. Your support, through thick and thin, has been a great source of strength for us.

We look forward to your continued support in the coming years.

Yours Sincerely

Mukesh Sangla

Chairman& Managing Director

Signet Industries Limited