Key Highlights

Around 71% of total revenue for FY 19 came from domestic market and rest was from exports. This is largely due to Srilankan order execution.

Engineering segment accounted for 56% of total revenue, chemicals around 35% and rest was from consumer products.

Order inflow in engineering segment in FY 19 stood at Rs 800 crore as compared to Rs 450 crore in FY 18. Despite elections order flow was good. Lot of tenders are in the pipeline and expects order inflow in FY 20 to be even better.

In engineering segment, momentum will continue. Present order backlog has better margin portfolio and expects the margins to sustain going forward

Bid pipeline is of more than Rs 6000 crore.

Order backlog as on Mar 19 is around Rs 900 crore excluding Srilankan order.

Revenue recognition of Srilankan order was very strong as shared earlier that some dispatches of Dec 18 quarter got shifted to Mar 19 quarter. Total billing of Srilankan order in Mar 19 quarter stood at Rs 100 crore and total billing for entire FY 19 was at Rs 145 crore.

No delays in Srilankan order execution and civil work contracts.

On Srilankan orders, Rs 344 crore so far is recognized in past 21 months, Rs 900 crore is the pending outstanding order book which will be executed in FY 20 and in FY 21.

The company has started the exercise of demat of Promoters shares and is hopeful to complete in next 6 mths.

Current turmoil in international market makes more business opportunities for the company in engineering segment. International orders have better margins and scope of work. Competitive landscape in global favour improved in company's favour. Overall it should continue to favour going forward as well.

Increased volumes seen in chemical division. Capacity utilization is around 75%. Expects growth momentum to continue. The business is seeing good demand and the increased capacity is for exports which have better realisation.

Capex for FY 19 was around Rs 30 crore largely on chemical segment.

Not much plans for consumer durable segment. Aim is to reduce the losses. Some plans for restructuring and other activities. The company would continue to expand in rural and institutional segment.

On subsidiaries performance, expected losses of some of the subsidiaries have come down in FY 19 itself. Also forex conversion has also helped.

Expects all the subsidiaries to breakeven in FY 20 and form a base. The process can get delayed ig international markets get affected by any macro factors.

There is some seed money still put in each of these subsidiaries and progressive improvements are visible.