During the year 2016-2017 your company has achieved many objectives and also achievedthe turnover of Rs 506 Crore (approx.). But during this year there are many ups and downsin the Indian economy like demonetization etc. due to this there is impact on the companyis more or less. But in these tough times we have secured some major orders e.g Order fromPunj Llyod for construction of Warehouse for Indian Oil Corporation Limited (IOCL) andanother from Tata Projects for construction of substation for Power Grid Corporation ofIndia Limited and also order from L&T for construction of metro station of lucknowmetro rail corporation and also received an order from DMRC for construction of SixElevated Metro Station and many more.
Your company always dedicated towards high quality and safety standards and firmlycommitted to deliver projects on time. We have 100% customize in house"Steel2Build" ERP system for complete project management. We also have team ofhighly qualified professionals committed to design Manufacture and Install Pre-EngineeredBuildings
During the last 7-8 years your company has grown and doing their best in the PEBsector. Rapidly growing Richa has accomplished more than 600 projects in a record time onan average of delivering one building in every five days. But the growth of the industryfluctuated many times due to various reasons such as economic slowdown various governmentpolicies and many more.
It gives me immense pleasure to share you that your company won the award for anOutstanding Company in Pre-Engineered Building during 6th EPC World award for theirexceptional contribution in the infrastructure and construction sector with exemplaryworks & projects delivered. The 6th EPC Worlds awards was organized by EPC world mediagroup to recognize and honor companies who broadly covering the entire infrastructure EPC & construction on the basis of their qualitative and quantitative performance.
In the future your company looking for many new project and also plan to explore newsegments which will lay a strong foundation for future growth of the Company. ChangingEconomic condition and various new Government India Initiatives e.g. make in IndiaDevelopment of smart Cities Introduction of GST will play a major role and give variousopportunities and create a huge demand of PEB in the Coming years. PEB will play animportant role in developing and achieving the dream of smart cities.
In the last but not the least the textile division of your company has also grows upyear by year. The implementation of GST in FY18 will help boost the prospects fororganised Textile sector. Currently only close to 40% of the textile business comprises oftrade which presents a huge opportunity for Richa to be leveraged through its strongportfolio of brands and network. Your company has entered into the space of sportswear andgetting good response.
Before I conclude want to grab this opportunity to extend my sincere gratitude to allthe bankers creditors stakeholders and shareholders for their persistent support foroverall development of the Company. I thank all our customers for their continued supportand the opportunity given to us to serve them and develop business relationship. I alsoplace on record my sincere appreciation for employees for their dedication commitment andcontribution towards the growth of the Company.
With Best Wishes
Dr. Sandeep Gupta