You are here » Home » Companies » Company Overview » ANG Industries Ltd

ANG Industries Ltd.

BSE: 530721 Sector: Auto
NSE: ANGIND ISIN Code: INE017D01010
BSE LIVE 14:30 | 07 Dec 12.40 -0.02
(-0.16%)
OPEN

12.50

HIGH

12.50

LOW

12.38

NSE LIVE 14:10 | 07 Dec 12.50 -0.20
(-1.57%)
OPEN

12.45

HIGH

12.90

LOW

12.25

OPEN 12.50
PREVIOUS CLOSE 12.42
VOLUME 3023
52-Week high 57.50
52-Week low 9.61
P/E
Mkt Cap.(Rs cr) 19.95
Buy Price 12.37
Buy Qty 500.00
Sell Price 12.40
Sell Qty 1339.00
OPEN 12.50
CLOSE 12.42
VOLUME 3023
52-Week high 57.50
52-Week low 9.61
P/E
Mkt Cap.(Rs cr) 19.95
Buy Price 12.37
Buy Qty 500.00
Sell Price 12.40
Sell Qty 1339.00

ANG Industries Ltd. (ANGIND) - Chairman Speech

Company chairman speech

ANG INDUSTRIES LIMITED (FORMERLY KNOWN AS ANG AUTO LIMITED) ANNUAL REPORT 2009-2010 CHAIRMAN'S REPORT It gives me quiet satisfaction to report an improved 2009-10 for our Company following the impact of the economic and sectorial slowdowns. This indicates that the worst is over and the Company is poised to report a vigorous rebound. Our revenues grew 21.13%, EBIDTA improved 34.85% and profit after tax increased 516%, vindicating our commitment to enhance value for all those who own shares in our Company. A development of positive importance transpired during the course of the year that could have a sustainable impact on our fortunes: in October 2009 and January 2010, we commissioned the boiler support structure and container businesses, which reported an attractive order book of Rs. 3,337 lac (as on 30th June 2010) within a few months of the launch. The result is that we are now a company with businesses covering auto-components, boilers, structurals and containers. There was an important reason for the addition of the new business. Our trailer unit (designed for heavy steel fabrication) remained largely unutilised during the meltdown, prompting us to seek alternative applications. The result was that we entered a rapidly growing sector (power) and selected to focus on the boiler support structures segment requiring heavy fabrication. To reinforce our positioning, we invested in a new facility (capable of delivering a peak Rs. 10,000 lac in topline) and received approvals from BHEL and L&T-MHI Boilers (Pvt) Ltd within six months of commissioning. This business generated sizeable revenue during the year under review with an unexecuted order book of Rs. 5,000 lac as on March 31, 2010 that is only expected to grow during the current financial year. Our presence in the container business also represented a value-addition over our existing line of trailers. Our products found acceptance among demanding private sector customers, a testimony of our product quality. With an annual fabrication capacity of 600-800 containers, we expect this business to generate about 10-15% of our annual turnover, going ahead. Our existing businesses (auto-components and trailers) grew reasonably following growing domestic prospects, while exports also revived. Moving ahead: I am excited about our prospects for the following reasons: Power: Our products cater to thermal power plants, which comprise more than 70% of India's power generating capacity. Private players (Adani Power, JSW Energy and Reliance Energy) are creating sizeable thermal power generating capacities, which is expected to accelerate our momentum. Besides, the imposition of customs duty following the import of power generating equipment augurs well for the growth of domestic players like us. Logistics: Growing exports and dispersed manufacturing facilities are necessitating the movement of large volumes, which is enhancing port handling capacity from 599 million TPA (March 31, 2010) to 860 million TPA by the end of the Eleventh Plan. About 25 projects are expected to be initiated in 2010-11 and large private sector conglomerates are creating captive logistics facilities across India. This, in turn, is creating a sizeable demand for customised containers. Mobile towers: We expect this venture to offer mobile, superior passive infrastructure (towers) to telecom operators in terms of multiple carrier capability and rapid deployment capability of towers versus standard towers (ground and roof) being erected in India and likely to generate sizeable revenues from 2010-11. These towers are ideal for occasions that attract large crowds, require quick service rollout (temporary measure until a permanent tower is commissioned) and serve as a backup option in case of tower collapse. We expect a decent contribution from this vertical during the current year. Message to shareholders The current year holds significant promise and we expect to strengthen revenues with a corresponding increase in profitability, translating into enhanced shareholder value. Regards Premjit Singh. Chairman

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard