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Generic Engineering Construction & Projects Ltd.

BSE: 539407 Sector: Infrastructure
NSE: N.A. ISIN Code: INE854S01022
BSE 00:00 | 16 Nov 161.25 0.20
(0.12%)
OPEN

165.00

HIGH

170.00

LOW

159.25

NSE 05:30 | 01 Jan Generic Engineering Construction & Projects Ltd
OPEN 165.00
PREVIOUS CLOSE 161.05
VOLUME 12989
52-Week high 194.40
52-Week low 67.50
P/E 50.23
Mkt Cap.(Rs cr) 621
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 165.00
CLOSE 161.05
VOLUME 12989
52-Week high 194.40
52-Week low 67.50
P/E 50.23
Mkt Cap.(Rs cr) 621
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Generic Engineering Construction & Projects Ltd. (GENERICENGINEER) - Chairman Speech

Company chairman speech

I am pleased to inform that our Company had a very successful year and has beensignificantly making progress towards fortifying its identity as a market leader invarious niche segments of construction. In view of the positive changes that have happenedin the industry I am optimistic of GENERIC'S ability to sustain growth and emerge a muchstronger player than before.

The overall macroeconomic scenario has strengthened with policy support providingstructural strength and imparting efficiency. Interestingly multilateral institutionslike the IMF and the World Bank have endorsed India as a ‘bright spot' in the globaleconomic landscape amid reforms with far-reaching positive outcomes. During the year theGovernment implemented several radical reforms like GST and RERA.

The implementation of GST has helped to create a uniform indirect tax structure for theentire nation. For the real estate industry the finalized rates stand at 18% andeffectively this would be 12% as deduction of land value is allowed. The GST reduced themultiple taxes and brought the much-needed clarity to both real estate players andcustomers. India's real-estate landscape is also undergoing a major change with the RERAAct 2016 legislation. The guidelines of the Act empowered buyers of properties while atthe same time enhancing discipline governance transparency among the real estateplayers.

At GENERIC we understood that at a time when the domestic market conditions wereshowing signs of revival it would be prudent to strengthen our capabilities to cater tothe vast Indian opportunities. Consequently our superior growth numbers testify therelevance of our strategies which are closely aligned to external opportunities and thegovernment's key policies.

GENERIC delivered a robust performance in FY18: a topline of Rs. 138.32 crore. Thiscoupled with sufficient order book and improving efficiency facilitated growth inoperating EBITDA to Rs. 19.58 crore and net profit of 11.50 crore in FY2018. GENERIC'SBoard has approved a stock split of 1 (one) equity share of face value of Rs. 10/- each to2 (two) equity share of face value Rs 5/- each. Board has also recommended a dividend of1% of face value i.e. Rs. 0.10 per share subject to the approval of shareholders.

Generic Engineering Construction & Projects Limited has received ‘Award ofExcellence in Construction and Engineering' by Make in India Foundation (MIIB). This is atestimony to our performance and client confidence. We expect to grow at healthy rate butnot at the cost of burdening our balance sheet or compromising on our margins. Our Companyis among the leading players in niche segments like hospitals and cold storage. OurCompany has developed the technical know-how and required skill sets to emerge as one ofthe best in construction and known for our on time delivery. We strive to be one stopsolution of all construction activities. This has increased the trusts of our clients inus leading to repeat orders.

We believe that several government initiatives - award of infrastructure status to theaffordable housing segment Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojana(PMAY) extension of income tax benefits up to 60 square meter sized apartmentsimplementation of RERA and GST - will enhance our sectoral opportunity. Besides thistransformation will benefit organized developers like GENERIC who possess a strongexecution focus. We expect these changes combined with lower home loan interest rates tolead to improved consumer confidence and demand. On our part we will continue to maintainour focus on execution and operational efficiencies utilizing positive operating cashflows to drive volumes and strengthen our Balance Sheet With a continued emphasis onproject delivery quality construction innovation and value enhancement of the entireecosystem the future looks promising for our Company. Our success so far has been drivenby our most important asset – our team! I would like to take this opportunity tothank each and every member of the GENERIC family. I would also like to thank our ClientsCreditors Banks Financial Institutions and other Stakeholders without whose patronagewe could not have been where we are.