I am filled with a sense of immense pride and satisfaction to share that your Companyhas emerged stronger than before during the challenging and volatile financial year. JKILcontinued to deliver sustained performance and now have a solid foundation for futureprofitable growth. Amid an uncertain economic environment and challenging industrydynamics we continued to perform with resilience. This performance has been supported byour relentless focus on building our capabilities disciplined approach to biddingproviding best-in-class project delivery and improving profitability. Even as the marketremained difficult and new opportunities were scarce our focus was on implementingsolutions to create value while enhancing growth for the business.
We at JKIL leverage our deep domain knowledge responsiveness agility scale andbrand reputation to capitalize on growing opportunities. Over the years we have grown toestablish JKIL as a renowned brand in the Urban Infrastructure sector especially in theMetros (underground and elevated) flyover bridges etc with the capability to deliverexponential results at any given point of time. Further our strong compliance andgovernance system skilled and competitive workforce and processes have augured well forour growth.
For most of the year JKIL exhibited growth and strength on all key performanceparameters even in the face of a stressed economic environment. Your Company'sstrategically diversified business portfolio robust Balance Sheet strong Order Bookposition and execution strengths have stood JKIL in good stead.
Covid-19 impact: The period leading up to the lockdown and the subsequent stoppageof all economic activity from 25th March 2020 has adversely affected yourCompany's operations in late FY 201920 as well as the better part of Q1 FY 2020-21. Thelockdown was progressively lifted from 20th April 2020 with the initialresumption of operations being conducted under restrictions imposed by local authorities.Currently most of these project sites are active and execution of jobs is progressingwith a reasonable level of labour workforce. Normalcy is being gradually restored and isexpected to stabilise to near regular levels in the third quarter of FY 2020-21.
Right from the onset of the pandemic JKIL adopted stringent safety measures to ensurethe safety and well being of its people and stakeholders. As a good corporate citizen witha social conscience we responded to the humanitarian crisis caused by the virus withmonetary and material assistance. JKIL contributed Rs 50 Lakh for the PM CARES fund.
Amid widespread concerns about the plight of daily wage earners we took it uponourselves to ensure that the 9000 contract workmen at our project sites received goodcare. We provided food shelter and medical assistance while maintaining prescribed Covid19 preventive & containment protocols.
In a year overshadowed by uncertainty your Company turned in a creditable performanceand registered growth in key performance parameters. Order Inflows which enable ourbusiness to flourish and grow stood at Rs 4289 crores. Revenues which demonstrate theability of the Company to execute and deliver on customer commitments grew by 7%.Shareholder value was delivered through healthy Profit after Tax which stood at Rs 184crores representing a growth of 4% over the previous year. The total Order Book of Rs11644 crores as on 31st March 2020 grew by 12% over the previous year-end andprovides multi-year revenue visibility to the Company. We continue to focus on optimisingour working capital management with focused efforts on collection and timely projectcompletion. Our net debt was Rs 179 Crores and net debt to equity ratio at 0.10 times asof 31st March 2020.
We have a consistent track record of paying dividends. The Board of Directors of theCompany at its meeting held on June 26 2020 have recommended payment of Equity Dividendof Rs 1.25 per share (@ 25% on Equity share of Rs 5/- each) subject to shareholders'approval at the forthcoming AGM.
The Covid-19 pandemic and its fallout makes it difficult to forecast the future withany degree of certainty. While we are hopeful that the 2nd half of FY 2020-21will herald better economic and business activity in terms of tendering good liquidityand revival of labour and supply chains it would be premature to predict the Company'sbusiness outcomes for FY 2020-21. The company is putting in enormous efforts to mitigatethe impact of the pandemic and register enhanced performance in FY 2021-22.
Over the past decade our strategy to focus on selected markets and clients with soundbasis for long-term growth and profitability has paid off well and our financial andoperational metrics have improved. Our focus to maintain a disciplined bidding approachfor winning new business enables us to sustain long term profitable work instead ofchasing revenue growth.
Infrastructure development has always been a crucial driver of economic growth. Thegovernment has continuously focused on the country's infrastructure development. Thereport of National Infrastructure Pipeline Task Force estimates total infrastructureinvestment of Rs 111 Trillion during the period 2020-25. This along with several otherdevelopment plans augurs well and provides significant growth opportunities forspecialised civil construction EPC companies. JKIL will continue to take measures toimprove its competitiveness and strengthen its capabilities. Our strategy will focus onprudence profitable growth and operational excellence.
We are all passing through a crisis of unprecedented magnitude and I would like tothank Team JKIL as well as our customers vendors and other stakeholders for theconfidence and trust they have reposed in us. I also thank my fellow Board Members fortheir invaluable support in guiding the Company and enabling another year of growth.
Jagdishkumar M. Gupta