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Laxmipati Engineering Works Ltd.

BSE: 537669 Sector: Others
NSE: N.A. ISIN Code: INE920P01019
BSE 00:00 | 31 Mar Laxmipati Engineering Works Ltd
NSE 05:30 | 01 Jan Laxmipati Engineering Works Ltd
OPEN 36.00
PREVIOUS CLOSE 36.00
VOLUME 30000
52-Week high 38.50
52-Week low 34.50
P/E 92.31
Mkt Cap.(Rs cr) 21
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 36.00
CLOSE 36.00
VOLUME 30000
52-Week high 38.50
52-Week low 34.50
P/E 92.31
Mkt Cap.(Rs cr) 21
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Laxmipati Engineering Works Ltd. (LAXMIPATIENGG) - Chairman Speech

Company chairman speech

Dear Shareholders

At the onset I would like to express my heartfelt gratitude to ourfrontline workers whose untiring efforts at ensuring the safety and well-being of ouremployees and communities have allowed us to hold our heads high and continue ouroperations without disruptions. Despite the challenges we have been able to createsustained value for our stakeholders and has achieved improved production cost anddistribution efficiency and sustainability initiatives.

The company managed to complete 14 Key projects in the HeavyEngineering & Defence sector with 65% capacity utilisation which the company expectsto be on the higher side in FY2022. The erection of the Link Span at Adani Port &completion of major projects for L&T MFF and L&T ECC were the key milestonesachieved by the company.

The company has increased its tally of total number of principalclients to seven in this Fiscal which assures a very strong order book for the comingyear with eight projects already under work-in progress. I am very pleased to inform thatthe current status of the work-in projects is nearly 70%.

The state-of the art Palsana workshop is 100% ready and we're nowcurrently operating it around 60% capacity which is expected to reach about 80% by theend of FY2022. Our focus remains aligned on heavy engineering division and our recentsuccess in pressure vessels fabrication work verifies the same. We're further developingstate-of the art world class infrastructure facility at Palsana to automate the entireplant to increase efficiency.

The company's revenue from operations is around Rs. 2797.66 Lacsrepresenting an increase of almost 50% from FY21's revenue from operations. Though theprofitability got severely impacted due to the outbreak of the pandemic. However ourlong-term outlook remains intact and we're sure that we'd be back on profitable terms inthe coming time period. I join the Board in thanking the team for demonstrating resilienceand agility and delivering on our set objectives.

I would like to take this opportunity to thank each and every employeeas well as others who are associated with Laxmipati Engineering Works Limited in any wayand also our partners across the value chain for their commitment and service to us. Mostimportantly I would like to thank you our shareholders for our overwhelming trustsupport and confidence in Laxmipati Engineering Works Limited.

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