It gives me great pleasure to share with you key developments and performancehighlights of the Company in 2018-19. Your Company witnessed yet another year ofremarkable growth in the key focus area of manufacturing. We managed to put up a resilientperformance despite fluctuation in demand volatile polymer prices and instability ofIndian Rupee against US Dollar.
With our belief in "Jal hai to kal hai" we are committed to foster a cultureof innovation at work continuously enhance our product range and increase our productioncapacities with minimal capital outlay with the ultimate goal of developing a businessthat brings joy to all our stakeholders..
We are pleased to announce the successful expansion in our production capacity. The
expanded capacities have now stabilized and are running smoothly. The enhancement inthe capacity has been implemented both in the infrastructure as well as in the irrigationlines. Irrigation capacity has now increased by 35% whereas capacity for production ofHDPE high pressure pipeline has increased by close to 100 percent. Now your company isamongst the very few companies which can produce upto 650mm of HDPE Pipes. We are alsopleased to inform that we have successfully commissioned a production line for double wallcorrugated pipes for diameters upto 500mm. The expanded technologies are "top of theline" and world class.
These additional capacities will speed up the delivery schedules of the current orderbook and additionally enable us to cater to the growing demand opportunity which will aidin building up larger order books due to delivery visibility.
We continue to witness tremendous growth opportunity. This growth is primarily fuelledby Government's initiative of Smart City Projects conversion of traditionally laid metal/cement pipelines and Amrut Yojna Projects. In a short time Signet has emerged as one ofthe major suppliers of pipelines for this government initiative. Your Company'sinfrastructure has been appreciated and applauded by its customers who have approvedSignet as their prime supplier.
Your Company is now not just a manufacturer of the system but has also emerged as a"complete solution provider" to our farmers. We will continue to focus on thishigh growth opportunity with huge untapped potential.
Our proven track record of world class quality products and implementation of stringentquality processes makes us the preferred choice among our customers. In irrigation sectorwe continue to maintain and further strengthen our dominance in various states in thecountry. Further we are pleased to announce the receipt of orders worth Rs. 230 cr. inthe infra segment from companies like L&T Limited Tata Projects Limited and GA InfraPvt. Limited. This award is a testament to our high standards in terms of products andprocesses. These orders are for high pressure pipelines and uPVC pipelines to be used invarious infrastructure projects in the States of Madhya Pradesh and Rajasthan.
As I look forward I see immense opportunities for growth at Signet. Our team'sexcellent commitment to growth and innovation has helped grow Signet as a world classmanufacturing business and I am excited to see these efforts getting converted intoresults in near future.
On this note let me take this opportunity to thank our management team our dedicatedemployees suppliers customers partners and shareholders for their unabated support andfaith in the company. Your support through thick and thin has been a great source ofstrength for us.
We look forward to your continued support in the coming years.
|Yours Sincerely |
|Mukesh Sangla |
|Chairman & Managing Director |
|Signet Industries Limited |