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Manav Infra Projects Ltd.

BSE: 535006 Sector: Infrastructure
NSE: MANAV ISIN Code: INE104Y01012
BSE 05:30 | 01 Jan Manav Infra Projects Ltd
NSE 05:30 | 01 Jan Manav Infra Projects Ltd

Manav Infra Projects Ltd. (MANAV) - Chairman Speech

Company chairman speech




Dear Shareholders

It is my privilege to present the 9th Annual Report of your companyfor the year ended March 31st 2018. In a challenging externalenvironment your company performed well and delivered another year of consistentcompetitive profitable and responsible growth.


Last year also happened to be a landmark year for your company as your company go forIPO (Initial Public Offer) and got listed on NSE (National Stock Exchange of IndiaLimited) on SME Platform. Further I am happy to inform you that investors have showntremendous confidence in your company as your IPO was oversubscribed.

I wish to inform that proceeds from this IPO have been used for the fulfilment ofworking capital requirement as per listed purposes. I am confident that the proceeds ofthe IPO have been such prudently invested which will further boost our business andprofit.


Your Company is basically into excavation and piling service provider also deals inroad construction and rental of heavy machineries such as JCB Poclains Piling rigs etc.

Company has reported sterling growth in Turnover EBITDA & net profit. Yourcompany's net Profit before exceptional item rose by 58% from Rs. 79 Lacs in the previousyear to Rs. 126 lacs in the current year and turnover increased 16% from Rs. 2114 Lacs ascompared to Rs. 1830 Lacs in the previous year. This reflects our improved confidence inthe position of the company and the outlook.


We seek to create further value by developing the opportunities embedded in ourexisting operations which represent the most attractive options. Presently we have MajorPiling Projects with MMRDA (Mumbai Metropolitan Region Development Authority) MetroConstruction Line No. III associated with Dogus Soma at worli Metro LineNo. II and VII associated with J. Kumar at Andheri to Kandivali and Malad toKandivali for Hiring of Equipments and Pile cap Excavation Metro Line No. VIIassociated with Simplex at Andheri Western Express Highway to Goregaon for Hiringof Heavy Equipments.

We also have residential projects of Excavation Piling and rental of Heavy Equipmentsat Marol Andheri (E) Borivali (E) Juhu and around the western suburbs Mumbai.

First we strive to operate our business with a sharp focus on safety producingprofitable tonnes and pursuing sustainable cost improvements. To this end the company hasbeen through a period of change which included the introduction of a new operating modelto strengthen our internal capabilities


We have taken advantage of the downturn and our financial strength and made investmentin the Machinery and Heavy Equipments such as Mait HR 300 Piling Rig PC 450 and otherpoclains in the upcoming year also the Company is planning to add some giants in themachinery fleet such as Mait HR 180 and huge range of JCB These recent investmentswill account for about 25% of our total production/turnover and will make a significantcontribution to our business.

We look beyond our core business for other growth opportunities to develop ourportfolio based on profitable returns. Our focus is to provide basic infrastructureservices in Mumbai. We have a strong balance sheet that allows us to consider a range ofopportunities.


Our Company has always maintained the highest governance standards and practices byadopting the norm for all constituent The Company has falling under the ambit ofCorporate Governance we have made required Policies and Code of Conduct in the Boardduring the year 2017-18 the same is mentioned in the Report on Corporate Governance aswell; the same is available on the Company's website

In compliance with the Corporate Governance Two Independent Directors joined the Boardand other officials and Key managerial Personnel were appointed; Managing DirectorCompany Secretary and Chief Financial Officer also made a part of the Boardroom.Composition of Various Committees of Board also took place in the year.

Although we believe that our current governance structures support the representationof stakeholder views and interests in our decision making we will continue as a Board toensure the transparency.


To summarize 2017 has been a year of good progress for our company. We have come outof the downturn stronger with a restructured organization that positions us well tocontinue executing our strategy over the coming years.

I would also like to take this opportunity to thank all our Stakeholders our Bankersour Investors employees and contractors that work across the Group for their trust andfaith I must acknowledge huge contribution from entire team of MIP whose contribution hashelped to make Manav Infra what it is today.

With Warm Regards

Mahendra Narayan Raju