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C & C Constructions Ltd.

BSE: 532813 Sector: Infrastructure
NSE: CANDC ISIN Code: INE874H01015
BSE LIVE 15:42 | 02 Dec 17.50 -0.25
(-1.41%)
OPEN

17.95

HIGH

18.00

LOW

16.80

NSE LIVE 15:47 | 02 Dec 16.85 -1.10
(-6.13%)
OPEN

17.85

HIGH

18.10

LOW

16.50

OPEN 17.95
PREVIOUS CLOSE 17.75
VOLUME 1763
52-Week high 29.50
52-Week low 8.12
P/E
Mkt Cap.(Rs cr) 44.54
Buy Price 0.00
Buy Qty 0.00
Sell Price 17.50
Sell Qty 10.00
OPEN 17.95
CLOSE 17.75
VOLUME 1763
52-Week high 29.50
52-Week low 8.12
P/E
Mkt Cap.(Rs cr) 44.54
Buy Price 0.00
Buy Qty 0.00
Sell Price 17.50
Sell Qty 10.00

C & C Constructions Ltd. (CANDC) - Chairman Speech

Company chairman speech

Dear Shareholders

Over the last three years the infrastructure sector is passing through a very unstablephase due to bad phase of economy where problems from all aspects have multiplied. andyour Company was no exception.

Banks were very conservative while extending financing facilities. For companiesalready in corporate debt restructuring a turnaround in this situation is extremelychallenging and calls for an urgent re-look of the relevant rules relating to CDR in theinterest of stakeholders.

Project progress remains tardy. Major projects are stalled due to liquidity problems.This has shaken confidence of industry players.

Year under review

The Turnover of the Company on a Standalone basis stood at Rs. 1013.43 crore ascompared to the Turnover of Rs. 1282.53 crore for the previous year. The annualizedpercentage decrease in the Turnover over the previous year’s Turnover amounted to20.98%. The Company posted a Net Loss of Rs. 189.95 crore for the year under review asagainst a Net Loss of Rs. 77.05 crore for the previous year. The increase in the losseswas mainly attributable to lower turnover.

The Company has been striving hard and taking all efforts in ensuring repayment ofinterest due to CDR lenders. To overcome the challenging business environment the Companyhas proactively undertaken the steps to realisation of claims cost optimisationmonetization of assets and carefully bidding for new jobs apart from focussing onstreamlining the internal organization and processes with emphasis on leveraging theCompany’s existing core competencies.

The order book of the Company as on June 30 2015 is Rs. 2456 crore.

The Future

The sentiment is positive because the Government appears sincere in its attempts to getthings moving. Policy initiative in the recent past will act as stepping stones to therevival of the highway sector. However the immediate revival of infrastructure sectorwould require increased public spending and structural and policy changes.

The budgetary allocation to the road sector for FY16 has also been increased by anamazing 125 per cent though channelizing these funds in the right direction at the righttime coupled with timely implementation of the reforms will be key to the renewal of thesector.

While recovery of the highway sector is certainly on the cards the pace of recovery isdependent upon timely execution of policy measures and an economic milieu to help to meetimmediate funding requirements of the sector.

Finally I would like to thank our strategic partners employees bankers and allstakeholders for their support and the faith reposed in us during these tough times and weassure all that we will work towards our goal with renewed and dedicated commitment.

Sincerely

Gurjeet Singh Johar

Chairman

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