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The company held its AGM on 26th April 2017 and was addressed by Mr. G Swarup Chairman
Key Highlights
Order book for CY 2017 is up by around 10% YoY.
Total capex for the new facility is around Rs 200 crore which will be in 3 phases. The first phase will commercialize in CY 2017 for executing the Alstom Bharat Forge JV order which will be executed in H2 of CY 2017.
The company is still waiting for Nuclear Power orders and other large orders which may come by the end of the year.
Management expects margins to improve going forward as execution picks up.
As per the management, execution will pick up every quarter. Power sector, Mining, Nuclear and other sectors should do well which in turn will help the company in gaining better and large orders going forward.
Parent will continue to decide on export prospects of the company. While potential for India continue to remain high and Parent sees the Indian subsidiary predominately to use its capacity for Indian market, it is open for exports.
Overall, CY 2017 year will be better than CY 2016.
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