AT 9TH ANNUAL GENERAL MEETING
MANAV INFRA PROJECTS LIMITED
CHAIRMAN MESSAGE
Dear Shareholders,
It is my privilege to present the 9th Annual Report of your company
for the year ended March 31st, 2018. In a challenging external
environment, your company performed well and delivered another year of consistent,
competitive, profitable and responsible growth.
INITIAL PUBLIC OFFER
Last year also happened to be a landmark year for your company as your company go for
IPO (Initial Public Offer) and got listed on NSE (National Stock Exchange of India
Limited) on SME Platform. Further, I am happy to inform you that investors have shown
tremendous confidence in your company as your IPO was oversubscribed.
I wish to inform that proceeds from this IPO have been used for the fulfilment of
working capital requirement as per listed purposes. I am confident that the proceeds of
the IPO have been such prudently invested which will further boost our business and
profit.
A STRONG PERFORMANCE
Your Company is basically into excavation and piling service provider also deals in
road construction and rental of heavy machineries such as JCB, Poclains, Piling rigs etc.
Company has reported sterling growth in Turnover, EBITDA & net profit. Your
company's net Profit before exceptional item rose by 58% from Rs. 79 Lacs in the previous
year to Rs. 126 lacs in the current year and turnover increased 16% from Rs. 2114 Lacs as
compared to Rs. 1830 Lacs in the previous year. This reflects our improved confidence in
the position of the company and the outlook.
COMMITTED TO SUSTAINABILITY
We seek to create further value by developing the opportunities embedded in our
existing operations which represent the most attractive options. Presently we have Major
Piling Projects with MMRDA (Mumbai Metropolitan Region Development Authority) Metro
Construction Line No. III associated with Dogus Soma at worli, Metro Line
No. II and VII associated with J. Kumar at Andheri to Kandivali and Malad to
Kandivali for Hiring of Equipments and Pile cap Excavation, Metro Line No. VII
associated with Simplex at Andheri Western Express Highway to Goregaon for Hiring
of Heavy Equipments.
We also have residential projects of Excavation, Piling and rental of Heavy Equipments
at Marol, Andheri (E), Borivali (E), Juhu and around the western suburbs Mumbai.
First, we strive to operate our business with a sharp focus on safety, producing
profitable tonnes and pursuing sustainable cost improvements. To this end the company has
been through a period of change which included the introduction of a new operating model
to strengthen our internal capabilities
LOOKING AHEAD WITH CONFIDENCE
We have taken advantage of the downturn and our financial strength and made investment
in the Machinery and Heavy Equipments such as Mait HR 300 Piling Rig, PC 450 and other
poclains, in the upcoming year also the Company is planning to add some giants in the
machinery fleet such as Mait HR 180 and huge range of JCB These recent investments
will account for about 25% of our total production/turnover and will make a significant
contribution to our business.
We look beyond our core business for other growth opportunities to develop our
portfolio, based on profitable returns. Our focus is to provide basic infrastructure
services in Mumbai. We have a strong balance sheet that allows us to consider a range of
opportunities.
TURNING INTO CORPORATE GOVERNANCE
Our Company has always maintained the highest governance standards and practices by
adopting the norm for all constituent, The Company has falling under the ambit of
Corporate Governance we have made required Policies and Code of Conduct in the Board
during the year 2017-18 the same is mentioned in the Report on Corporate Governance as
well; the same is available on the Company's website www.manavinfra.com.
In compliance with the Corporate Governance Two Independent Directors joined the Board
and other officials and Key managerial Personnel were appointed; Managing Director,
Company Secretary and Chief Financial Officer also made a part of the Boardroom.
Composition of Various Committees of Board also took place in the year.
Although we believe that our current governance structures support the representation
of stakeholder views and interests in our decision making, we will continue as a Board to
ensure the transparency.
TO SUMMARIZE
To summarize, 2017 has been a year of good progress for our company. We have come out
of the downturn stronger with a restructured organization that positions us well to
continue executing our strategy over the coming years.
I would also like to take this opportunity to thank all our Stakeholders, our Bankers,
our Investors employees and contractors that work across the Group for their trust and
faith I must acknowledge huge contribution from entire team of MIP whose contribution has
helped to make Manav Infra what it is today.
With Warm Regards,
Mahendra Narayan Raju
Chairman