It gives me great pleasure to welcome you to the Annual General meeting of the Companyfor the fiscal year 2013-2014 as we get the opportunity to discuss about theCompanys business and its future upcoming prospects
We have more than a decade of experience in EPC business but due to certain businessconditions we have experienced a slight downfall in our business. Due to overall downfallscenario of infrastructure segment our Company incurred some bad debts which caused heavylosses to the Company which subsequently reflected into our banking system as well.However we are striving to restructure and maintain our profitability at the same level asbefore. We believe in ourselves and our hard work will ensure success and profitability inthe near future.
The market prospects for EPC Activities looks promising and the industry is expected togrow over the next 10 years at a rate which is linked to the growth expected in the coreindustries such as coal steel cement fertilizers mining ports power andpetrochemicals and overall Infrastructure Development.
The financial performance of the Company can be seen in the Annual report for the yearended 31st March 2014 which have been circulated to you. The fiscal 2013-2014for your Company shows slow growth which we need to make good in the coming fiscal year.We aim to undertake various turnkey projects in different industrial sectors and emerge asa promising EPC company.
In conclusion on behalf of the Board of Directors of your Company I thank all ourstakeholders for their continued support trust and confidence reposed in us. With thestrong backing of your Company's customers shareholders associates and vendor partnersyour Company will continue to be a major and significant player in the EPC industry.
Dr. V. K Sukumaran
Chairman & Managing Director