SUBHASH SETHI
Chairman
SPML Infra Ltd.
Dear esteemed shareholders,
It is with immense pride and
gratitude that our Company has completed another successful year in business. This annual
report serves as a testament to the relentless efforts and dedication of our entire team,
from the boardroom to the construction sites, who have worked determinedly to shape the
future of our nation's water landscape. It will reflect upon the achievements,
challenges, and aspirations of our esteemed organization in the fiscal year 2022-23.
The Indian economy exhibited
robust resilience in 2022-23 amidst a global turmoil following the war in Ukraine. It
recorded a growth of 7%, the highest among major economies in the world. The
infrastructure sector witnessed the highest capex allocation, total cost of projects
sanctioned by banks and financial institutions during 2022-23 increased to a record high
of Rs.2,66,547 crore, highlighting the effect of the government's efforts to push for
robust infrastructure development. A Reserve Bank of India (RBI) report suggested that the
infrastructure sector continued to attract the maximum capex projects.
Over the past year, we have
continued to uphold our commitment to delivering world-class projects that redefine the
landscapes of clean drinking water to people. Our unwavering focus on quality,
sustainability, and cutting-edge technology has enabled us to overcome hurdles. From
groundbreaking bulk water supply project in Gujarat to water loss management project in
Bengaluru, our projects stand as testimonials to our dedication to water sector and
transforming projects into sustainable and tangible realities.
I am elated to share that we
have made substantial progress. We've sharpened our focus on water segments and
completed a number of water supply projects in Rajasthan, Gujarat, Delhi, and Manipur.
These projects have helped us providing clean drinking water facilities to several million
people in these states. During the year we have also completed a number of power
substation projects funded by the World Bank, in Tripura, that have helped our esteemed
clients to augment the quality of electricity supply in the designated areas, thus
illuminating the lives of people. By adopting smart technology for project and operational
management, we've positioned ourselves to ensure consistent project delivery.
It was an immense pride for us
that we were chosen to play a pivotal role in the nation's water infrastructure
development under the Jal Jeevan Mission. During the year, we were entrusted with a number
of new projects under this flagship scheme in different states. I am confident that these
high value projects, along with several others coming our way will help our company to
write a new story of accomplishments and pride.
We are infusing innovation and
modern technology and streamlining our processes to seamlessly execute projects and
transitioning them into the digital realm. We have made substantial investments in
advanced tools, automation, and digital platforms that have helped us for having seamless
collaboration among project, procurement and finance teams. This collaborative approach
empowered the Company to monitor each project's progress individually, identifying
risks, and make well-informed decisions with the use of real time information. Our long
term objective is to achieve incomparable project execution efficiency and enhanced
productivity.
I am happy to inform you that
the Company is recognised for its deep industry knowledge, integrated value proposition,
sound business practices and strong project delivery parameters through a coveted Infra
Focus Awards 2022 as Most Admired Company in Water Infrastructure conferred to us by The
Economic Times. It is also moment of pride for us that our company has been featured
amongst India's Top 100 Real Estate and Infrastructure Companies, according to a
report published by the leading industry publication, Construction Week. Considering the
extraordinary growth that we have achieved, it's no wonder that our Company is
counted among the Best Infra Companies in India. The result is that SPML Infra has been an
innovator and pioneer in India's water infrastructure sector. It is also a preferred
partner for a number of esteemed departments and agencies under the aegis of central and
states' governments and bilateral organizations for water related projects.
The health, safety, and
well-being of our team members have remained paramount. We have implemented robust safety
protocols to ensure the protection of our employees at all our project sites. Their
unwavering commitment has been instrumental in driving our projects forward, even in the
most challenging conditions.
Environmental sustainability
has always been integral part to our business philosophy. As responsible corporate, we
have integrated eco-friendly practices into our operations and management and using
renewable sources as much as possible, reducing our carbon footprints and contributing to
the development of greener and more sustainable future. Our social responsibility
initiates has also been unwavering, as we continue to invest in healthcare, and other
community development initiatives.
As you are aware, the past
three years have been significantly challenging for the infrastructure sector in India.
Naturally, these challenges have had an impact on our Company's performance as well.
However, despite these obstacles, the Company has managed to maintain profitability and
sustain growth, albeit at a slower pace. In the fiscal year 2022-23, our recorded revenue
stands at Rs. 883.14 Crore, accompanied by a profit of Rs. 2.93 Crore. This positive
trajectory is indeed a favourable development, especially considering the Company's
unfavourable profit figures in the previous fiscal year, primarily attributable to
unforeseen circumstances.
My optimism remains steadfast,
rooted in the fact that our Company has navigated even more formidable challenges in the
past, during times when the organization was smaller and more vulnerable. Yet, we
confronted those trials and emerged with increased strength. Our Company has since grown
into a larger and more robust entity, and I have full confidence in both the resilience of
our business model and the resourceful spirit of our team to successfully navigate this
challenge as well.
As we move forward and embark
on the next fiscal, I am confident that our values, our experiences, our strategies, and
our people will continue to propel us to newer heights. Our collective efforts, guided by
a shared vision of excellence, will ensure that we remain at the forefront in the water
industry.
I extend my heartfelt
gratitude to everyone who has played a part in our achievements this year. My gratitude to
the board of directors for their valuable guidance, to our esteemed clients for continuing
their trust on us, our bankers for their unwavering support, our supportive partners and
suppliers, our dedicated employees, and our esteemed shareholders for being an integral
part of our journey.
Your dedication, hard work,
and belief in our mission are truly inspiring. Let us move forward with renewed energy,
confidence in our ability to shape a brighter water future of the nation through our
endeavors.
Warm regards,
Subhash Chand Sethi
Chairman