Dear Shareholders,
I would like to present our performance for the financial year 2016-17 and the future
outlook for the company.
Our engineering services related to HVAC and infrastructure / real estate markets
continued to face challenges. The real estate markets witnessed muted demand. The Union
Budget 2016-17 did earmark huge outlay for infrastructure sector but the much needed
take-off momentum did not happen on expected lines.
However we expect the infrastructure spending to happen soon leading to revival of
economic recovery. This would aid in creating demand for HVAC and engineering solutions.
This would put your company in a better economic and financial path.
| SAJID MALIK |
| MANAGING DIRECTOR |