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Kirloskar Electric Company Ltd.

BSE: 533193 Sector: Engineering
NSE: KECL ISIN Code: INE134B01017
BSE 11:51 | 23 Oct 10.81 -0.36
(-3.22%)
OPEN

10.97

HIGH

11.00

LOW

10.70

NSE 11:57 | 23 Oct 10.75 -0.05
(-0.46%)
OPEN

11.00

HIGH

11.00

LOW

10.65

OPEN 10.97
PREVIOUS CLOSE 11.17
VOLUME 1784
52-Week high 19.62
52-Week low 6.95
P/E
Mkt Cap.(Rs cr) 72
Buy Price 10.75
Buy Qty 1114.00
Sell Price 10.81
Sell Qty 200.00
OPEN 10.97
CLOSE 11.17
VOLUME 1784
52-Week high 19.62
52-Week low 6.95
P/E
Mkt Cap.(Rs cr) 72
Buy Price 10.75
Buy Qty 1114.00
Sell Price 10.81
Sell Qty 200.00

Kirloskar Electric Company Ltd. (KECL) - Chairman Speech

Company chairman speech

Dear Shareholders

During the year 2018-19 we have faced various financial challenges and passed throughyet another learning curve to look ahead for a brighter future. It was very evident thatthe year was one of those that introduced the era of rapidly changing and challengingbusiness environment in the Country.

Yet the Company has sustained and stayed its ground. In the financial year 2018-19 theIndian economy witnessed a growth of 7.2 per cent which is a little higher than theprevious year's growth figures of 6.7 per cent growth. The increase is with the improvedperformance of the agriculture and manufacturing sectors. Your Company continues to facethe paucity of working capital which has affected the operations leading to decline inturnover. Nevertheless your Company is confident that during the coming years the workingcapital situation will improve resulting in increased revenue from operations.

During the year under review your Company has tried to mitigate various risks andchallenges through its core competencies inherent strengths in design engineeringdevelopment quality systems and processes. Your Company has been taking all the possiblesteps to optimise the various costs and treading towards a strong order book position andenhancing the brand value. Your Company has adopted the various best practices to optimisethe costs. Your Company is in the process of reducing its debts and infusion of workingcapital through monetization of noncore assets of the Company.

The future of your Company looks promising as the Government of India has schemes likeFAME 2 (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles) which willcreate huge demand for the Company's products. The Company is all set to explore itsexperience and expertise by taking benefit of the various initiatives and incentives ofthe Government of India.

I express my sincere thanks to all the shareholders lenders banks financialinstitutions customers dealers vendors and all other stake holders for all theirsupport extended. My sincere thanks to all the employees of the Company for theircontinued hard work and whole hearted support extended during these trying times.

Vijay R. Kirloskar

Executive Chairman

.