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Petron Engineering Construction Ltd.

BSE: 530381 Sector: Engineering
NSE: PETRONENGG ISIN Code: INE742A01019
BSE 00:00 | 20 Jul 35.40 -1.85
(-4.97%)
OPEN

39.00

HIGH

39.05

LOW

35.40

NSE 00:00 | 20 Jul 34.50 -1.75
(-4.83%)
OPEN

38.05

HIGH

38.05

LOW

34.50

OPEN 39.00
PREVIOUS CLOSE 37.25
VOLUME 8251
52-Week high 173.00
52-Week low 23.00
P/E
Mkt Cap.(Rs cr) 27
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 39.00
CLOSE 37.25
VOLUME 8251
52-Week high 173.00
52-Week low 23.00
P/E
Mkt Cap.(Rs cr) 27
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Petron Engineering Construction Ltd. (PETRONENGG) - Chairman Speech

Company chairman speech

Dear Shareholders

As we all know the Government of India has set the concept of "Make inIndia". Though investment momentum has not reached in some of the sectors in whichyour Company is functioning the positives are subsidy reductioninflation containmentGST initiatives and various fiscal measures which will increase the in infrastructuresectors.

As such the Global economy is not offering any encouraging scenario due to depressedcrude oil price and for various other reasons but India is expected to progress well dueto good monsoon. India’s GDP growth is expected to be above 7.5%.

The "Make in India" concept is expected to provide infrastructuredevelopments and your Company is expected to gain from the said concept.

Your Company is providing very specialized Turnkey / Composite construction solutionsfor Civil Mechanical Electrical Instrumentation Insulation Refractory andcommissioning services under one roof in the areas of Power Cement Refinery / Oil &Gas Fertilizer & Petrochemical Steel Plants and other process plants.

Since crude oil prices have remained low the investment in new crude oil refinery areon the way. However the initiatives GovernmentofIndia’s on Climate change theinvestment in clean fuel project is likely Oil Refinery Sectors.

There is also possibility of capacity additions in existing to grow.

Quality & Safety will continue to be our key priority and we will constantlyprovide safe & best services to our prestigious clients. We will strictly adhere toIntegrated Management System with applicable International Standards.

I would like to thank my fellow Board Members for their guidance & commitment. Iwould also like to thank the employees at all levels involved either directly orindirectly with the projects.

I am thankful to all our bankers for their support. Finally I would like to thank allour stakeholders customers suppliers vendors and the various Governments and regulatoryagencies for the support extended to us in such challenging times and I hope to continueto receive your support in the future aswell.

Best wishes

Ajay Hans

Managing Director

Mumbai 31st May 2016