Key Highlights

Domestically, the company continues to remain optimistic about the business. Industrial water treatment, drinking water treatment, sewage treatment, process water treatment, management of process water and solid waste management etc all the sub segments are doing well.

The company is the only company with one stop solutions for water in India. The company is planning to introduce surface water treatment solutions by closely working with Public Health Engineering Departments (PHEDs) and Rural Water Supply Departments of various states.

Chemical business is growing strongly and will continue to remain strong. There is not much competitive threat in this business, as the company is the leader in India and is well recognized in International market as well.

In consumer product business, the company is trying to register a break even in this segment, as it got crowded by the competition. It is also looking for a strategic partner in this segment.

Company's engineering division has an order book of around Rs 400 crore and many orders are in pipeline at various stages. These orders are executed in period of 3-6 months every year.

New government initiatives such as Swachh Bharat Mission, Cean Ganga, Smart Cities and National Rural Drinking Water Program will result in more opportunities for the company.

The company has global footprint with exports to several nations in Arica, Europe, Middle East, UK and USA. Africa and Middle East regions.

Company has 3 subsidiaries

Company's subsidiaries in Philippines, Srilanka, Indonesia and in Africa are in losses due to lot of country specific issues. Changes in government in Philippines and Srilanka have lead to delay in execution of the orders. Africa is a huge market, but payment issues have led to lower order book for the company.

Management is confident of a significant turnaround of the subsidiaries either by end of FY'17 or in FY'18 due to the orders which are in the pipeline.

The shares are traded in T group due to physical holding held by the promoters. This is a legal issue. The management will try to sort out the issue and it is expected to be out of T segment hopefully in FY 2017.

Overall, the company expects by end of FY'17 lot of clarity about international subsidiaries and Indian engineering operations and its demat share issues will be clear