FY'14 was full of challenges in terms of orders and their execution. Compression segment got affected due to low investments in oil and gas and refinery business thus lower business for refrigeration and gas compression. Infrastructure issues and issue on gas availability affected the CNG business. Lower orders from Indian Railways affected the Transmission business of the company and general poor sentiment also affected the business.

Q1 FY'15 was no different were delivery of orders got delayed and lower utilization of fixed costs, resulted in overall increase in the costs and thus losses for the quarter. Management expects Q2 will be also on similar lines, but is hopeful that a recovery will happen in H2 FY'15. Depending upon how confidence comes back in capital and infrastructure segment, management expects the delivery of lot of orders that are hung up to occur by the end of the year.

Order book is not encouraging but is hopeful of orders in H2 especially by the end of FY'15, if the investments start happening in Oil and Gas and infrastructure segment side. Meanwhile the company is focusing and executing some export orders which is helping in some execution of the business.

Management is confident that FY 16 will see spurt in investments in Oil and Gas and Refinery segment

Company has got all the necessary certification on RoadRailer business and if orders come in, it has plan to manufacture and sell Road Railer Rake in FY 2014-15 somewhere around the end of the year 2014-15.

Overall, management expects better results in FY 2015-16, while in FY 2014-15 depending upon execution and offtake of delivery, management is hopeful of better H2 FY'15.