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L.P. Naval Engineering Ltd.

BSE: 537669 Sector: Others
NSE: N.A. ISIN Code: INE920P01019
BSE 00:00 | 25 Jun 61.00 0
(0.00%)
OPEN

61.00

HIGH

61.00

LOW

61.00

NSE 05:30 | 01 Jan L.P. Naval Engineering Ltd
OPEN 61.00
PREVIOUS CLOSE 61.00
VOLUME 24000
52-Week high 62.00
52-Week low 48.00
P/E 20.68
Mkt Cap.(Rs cr) 35
Buy Price 42.00
Buy Qty 3000.00
Sell Price 59.90
Sell Qty 3000.00
OPEN 61.00
CLOSE 61.00
VOLUME 24000
52-Week high 62.00
52-Week low 48.00
P/E 20.68
Mkt Cap.(Rs cr) 35
Buy Price 42.00
Buy Qty 3000.00
Sell Price 59.90
Sell Qty 3000.00

L.P. Naval Engineering Ltd. (LPNAVALENGG) - Chairman Speech

Company chairman speech

Dear Shareholders

I am pleased to share with you an update on our Company’s performance forFY2018-19; a year which has seen remarkable all- round progress. The Industrial andInfrastructural opportunity in India continues to remain attractive amidst the globaleconomy growing at a brisk pace albeit under the shadow of trade barriers and volatileoil prices. Moreover this sector has come under the focus of the Government of Indiawhich can be manifested through the government’s budget allocation on this sectorwhich scaled up to Rs. 100 lakh crores in the recently concluded budget. The governmentproposed two such projects Jal Marg Vikas Project which aimed at smoothening internaltrade carried through inland water transport and Sagarmala which would enhance portconnectivity and port-linked Industrialization. Our company is a direct beneficiary ofthis as it would create demand in both the Shipbuilding and Ship Repair Industry andallied engineering activities.

India’s growth momentum was temporarily affected by various exercises undertakenby the government during the past 2 years like Demonetization and implementation of GST.Higher per capita consumption a stable GST and focussed approach by the government onInfrastructure would collectively play an important role in accelerating growth. Thegovernment has unveiled a host of initiatives taken by the government to develop andsustain growth of the Shipbuilding sector like granting Infrastructural status toShipyard Industry which exempts the Industry from customs and central excise duties.Thedefence Industry outlook too remains very positive especially after the "Make inIndia" drive in the Defence Sector with the policy of Strategic Partnerships withPrivate players. So overall there is growing optimism in the Industries which our companycaters to

We were able to deliver superior performance across the two segments we catered to forour principal client i.e. Defence and Heavy Engineering. Our company was able to crossseveral milestones in the year under review. We crossed turnover of Rs. 11 crores withEBITDA touching Rs. 2 crores and with PAT touching Rs.1 crore. After a couple ofchallenging years we feel the worst is left behind and we seem to be in a good wicketnow. As an organization the time we spent in the past years on developing our skill setsbuilding capabilities and networks have delivered the desired results in the currentFinancial Year.

Our company in the initial couple of years worked in the Shipbuilding Industrymanufacturing essentials for fast moving aluminium boats and delivered 12 projects to itsprincipal client. However by the year FY2016 the industry struggled to maintain itsgrowth pace and along with the Industry it affected our company too. But for us it actedas a blessing in disguise as we got to diversify into other Industries such as Defenceand Engineering in which our company has put a strong foot forward now. Thus a couple ofyears of sluggishness did not have a long-term impact onour business and profitability.

For the roadmap ahead it gives me immense pleasure to inform you that our company isadding new clients to its list while delivering quality results to the existing ones. Onthe Independent front too our company is also planning to setup its own State-of-the-ArtEngineering workshops.

Independent projects would help boost company’s Operational profitability margins.

I would like to take this opportunity to thank each and every employee as well asothers who are associated with L.P. Naval and Engineering Ltd. in any way and also ourpartners across the value chain for their commitment and service to us.

Most importantly I would like to thank you our shareholders for our overwhelmingtrust support and confidence in L.P. Naval and Engineering Ltd.

Warms regards

Sd/-

Sanjaykumar Govindprasad Sarawagi

Chairman

DIN: 00005468