Dear Shareholders,
We are here to convey sustainable worth for all our stakeholders. Our optimism is
derived from the fact that your Company have a vigorous balance sheet and consistent
positive cash flows, we will be able to exploit on the Government's initiatives to revive
the infrastructure sector.
The Government has taken various initiatives to boost development of infrastructure in
the Country. These include setting up of infrastructure targets for various sectors,
putting in place an institutional mechanism to monitor and hasten the progress of PPP
projects at the Central and state levels.
The Indian economy is expected to grow at the rate of 7.5 % in fiscal year 2017 and an
estimated 7.7 % in 2018 and growth will gradually accelerate to around 8% over next three
to four years, to follow this, the demonetization has led to indeed a temporary slowdown
in economic activity but the indicators that we have such as that the economy has been
more resilient than we previously expected. We at this stage we would think that is
probably kind of a steady medium term growth rate for India, that growth rate should be
higher if we see greater effectiveness of some of the measures that are being implemented
in promoting productivity and for instance the implementation of GST in July could over
time boost productivity growth and overall GDP growth on a sustained basis according to
Moody's.
It gives me pleasure by sharing my views on the infrastructure industry i.e., The
Government of India is keen on developing the infrastructure sector in the country. This
is clearly evident through the numerous initiatives announced for this sector as part of
Budget 2017-18. A provision of Rs 2.4 lakh crore has been set aside for the transportation
sector as a whole. This includes the Indian railways, shipping and roadways.
Your Company have registered a 20% growth in revenue. The company's revenue for the
FY16-17 was Rs. 338.35 crores as against Rs. 308.76 crores in the previous financial year.
The networth of the Company reached to Rs. 116.30 Crores. Our construction and renewable
energy order book stands at Rs. 1022 Crores, as on March 31, 2017.
I take this opportunity to thank the talented & devoted team of MIPL for their
consistent efforts and commitment. I also congratulate and thank each and every
stakeholder of the Company for reposing their faith and confidence in us, which enabled us
to take the Company onto the next growth phase. Together, we would continue to focus on
creating value for all of us.
Amit Khurana
Chairman and Managing Director