Dear Stakeholders,
It gives me great pleasure to share with you key developments and performance
highlights of the Company in 2018-19. Your Company witnessed yet another year of
remarkable growth in the key focus area of manufacturing. We managed to put up a resilient
performance despite fluctuation in demand, volatile polymer prices and instability of
Indian Rupee against US Dollar.
With our belief in "Jal hai to kal hai", we are committed to foster a culture
of innovation at work, continuously enhance our product range, and increase our production
capacities with minimal capital outlay with the ultimate goal of developing a business
that brings joy to all our stakeholders..
We are pleased to announce the successful expansion in our production capacity. The
expanded capacities have now stabilized and are running smoothly. The enhancement in
the capacity has been implemented both in the infrastructure as well as in the irrigation
lines. Irrigation capacity has now increased by 35% whereas capacity for production of
HDPE high pressure pipeline has increased by close to 100 percent. Now your company is
amongst the very few companies which can produce upto 650mm of HDPE Pipes. We are also
pleased to inform that we have successfully commissioned a production line for double wall
corrugated pipes for diameters upto 500mm. The expanded technologies are "top of the
line" and world class.
These additional capacities will speed up the delivery schedules of the current order
book and additionally enable us to cater to the growing demand opportunity which will aid
in building up larger order books due to delivery visibility.
We continue to witness tremendous growth opportunity. This growth is primarily fuelled
by Government's initiative of Smart City Projects, conversion of traditionally laid metal/
cement pipelines and Amrut Yojna Projects. In a short time, Signet has emerged as one of
the major suppliers of pipelines for this government initiative. Your Company's
infrastructure has been appreciated and applauded by its customers who have approved
Signet as their prime supplier.
Your Company is now not just a manufacturer of the system but has also emerged as a
"complete solution provider" to our farmers. We will continue to focus on this
high growth opportunity with huge untapped potential.
Our proven track record of world class quality products and implementation of stringent
quality processes makes us the preferred choice among our customers. In irrigation sector,
we continue to maintain and further strengthen our dominance in various states in the
country. Further, we are pleased to announce the receipt of orders worth Rs. 230 cr. in
the infra segment from companies like L&T Limited, Tata Projects Limited and GA Infra
Pvt. Limited. This award is a testament to our high standards in terms of products and
processes. These orders are for high pressure pipelines and uPVC pipelines to be used in
various infrastructure projects in the States of Madhya Pradesh, and Rajasthan.
As I look forward, I see immense opportunities for growth at Signet. Our team's
excellent commitment to growth and innovation has helped grow Signet as a world class
manufacturing business and I am excited to see these efforts getting converted into
results in near future.
On this note, let me take this opportunity to thank our management team, our dedicated
employees, suppliers, customers, partners and shareholders for their unabated support and
faith in the company. Your support, through thick and thin, has been a great source of
strength for us.
We look forward to your continued support in the coming years.
| Yours Sincerely |
| Mukesh Sangla |
| Chairman & Managing Director |
| Signet Industries Limited |