The Company continues to monitor the development related to bids submitted in the Flue Gas Desulfurization (FGD) systems required for power plants and industrial boilers. The industry has been cautiously evaluating various technologies and the investment needs and hence has not witnessed significant flow of awarding of jobs yet as anticipated by the Company.

However, the Company has been bidding for FGD packages on their own as well as with strategic partners for power and industrial boilers and remains hopeful to win some of the bids as and when the activity in the space picks up. In recent months the Company has seen significant inflow of inquiries from process boilers that require FGD systems in the non-ferrous sector.

Further, the Company is actively working with customers in securing projects in its legacy businesses of material handling systems and electrification systems and continues to remain positive in this business.

The company would like to place on record that the company has bid for projects in various states which are under different stages of finalization. In all the total bids made by the Company for the year ended 31 March 2019 stands at approx. Rs 6000 crore.