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Commercial Engineers & Body Builders Company Ltd.

BSE: 533272 Sector: Engineering
NSE: CEBBCO ISIN Code: INE209L01016
BSE 09:43 | 23 Sep 35.25 0.95
(2.77%)
OPEN

35.30

HIGH

35.30

LOW

35.00

NSE 09:34 | 23 Sep 35.00 0.20
(0.57%)
OPEN

34.80

HIGH

35.00

LOW

34.00

OPEN 35.30
PREVIOUS CLOSE 34.30
VOLUME 1510
52-Week high 43.25
52-Week low 12.85
P/E 28.20
Mkt Cap.(Rs cr) 315
Buy Price 34.10
Buy Qty 100.00
Sell Price 34.75
Sell Qty 800.00
OPEN 35.30
CLOSE 34.30
VOLUME 1510
52-Week high 43.25
52-Week low 12.85
P/E 28.20
Mkt Cap.(Rs cr) 315
Buy Price 34.10
Buy Qty 100.00
Sell Price 34.75
Sell Qty 800.00

Commercial Engineers & Body Builders Company Ltd. (CEBBCO) - Chairman Speech

Company chairman speech

Dear Shareholders

We wish to place before you the performance of your Company in the year gone by andshare thoughts on Company's strategy for

growth in the coming years.

During the year the Company recorded sales (net of GST and other income ) of Rs. 12903Lakhs as compared to Rs. 21655 lakhs for FY 2018-19 which is about 40 % lower. The yearwitnessed a significant drop in demand from commercial vehicle OEMs for tippers and lossof sale in the month of March 2020 post lock down. The Company has started execution oforders for railway freight wagons.

While the railway order was received in the year 2018-19 the shipment could commenceonly in February 2020.

Last year we had communicated to you regarding debt restructuring by the lender banksand change in promoters of the Company. Post the restructuring and infusion of funds bynew promoters in FY 2018-19 the Company's debt burden has come down and the company nowhas fund based limits of Rs. 2000 Lakh and Rs 1500 Lakhs of non-fund limits.This shouldenable the Company to cater to the railway business and also increase its share in tippervolumes.

The economists expect a massive contraction in the economy in the first quarter of2020-21 and is likely to to pull down the full-year growth to a 5-7 per cent contraction.This will certainly impact the demand for trailers from commercial vehicle OEMs and it isexpected the demand will gradually improve in the second half.

In Railways vertical as you are aware we had been able to get the company re-registeredand got qualified for G-105 registration. With this we were able to participate in IndianRailways tender and received an order for 500 wagons amounting to Rs. 15000 lacs. Thecompany siding got approved in February 2020. After this approval we started deliveringrailway order and delivered 63 wagons during the last quarter. We will be completingbalance 437 in 2020-21. This segment gives us a big opportunity for growth going forward

As an ongoing exercise management continues to focus on cost reduction and optimizationof resources and is working on proper restructuring of organization to be lean andeffective to achieve set objectives of the company. Severe pressure on cost remains achallenge for the company.

We thank our lenders customers and suppliers for their continued support and mostimportantly we appreciate the efforts taken

by employees during the critical phase of the company.

Finally we thank you for your continued trust confidence and support.

Thank you
Yours sincerely
On behalf of Board of Directors
P.Y. Gurav Abhishek Jaiswal
Director Whole Time Director & C.E.O.
(DIN: 02004317) (DIN: 07936627)

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