Today's Top Gainer
Note:Top Gainer - Nifty 50 More
4.01 The turnover of the Company was less than the preceding year mainly due to adverse economic environment in both, the domestic and global markets; and deferment of investment decisions by customers due to scarcity of finances.
4.02 In spite of the lower turnover the Company could maintain reasonable profit due to continued and intensive efforts towards cost control and value engineering.
4.03 The order book at the close of the year is good.
4.04 The Company has identified various growth strategy initiatives. One of the business opportunities identified is Air Pollution Control Equipment. The Company has concluded technology tie-up arrangements to cover almost the entire range of Air Pollution Control Equipment required for coal based power plants as also some equipment for other industries.
4.05 These include the incorporation of a Joint Venture Company named Isgec Redecam Enviro Solutions Private Limited, with Redecam S.P.A, Italy, for Bag Filters and Hybrid Filters for particulate Matter Reduction in Cement and Steel Plants.
4.06 The other technology tie-ups were for Selective Non-Catalytic Reduction Units with Fuel Tech, USA for reduction of Nitrogen Oxide (NOx) in Thermal Power Plants and Cement Plants, and for Wet Flue Gas Desulfurization Units with Babcock Power Environmental, USA for reduction of Sulfur Dioxide (SOx) in Thermal Power Plants.
4.07 Technology transfer agreements with regard to other equipment executed during the year are as under:-
A) Cement Machinery:
(i) Pyro Processing and Clinker Cooler Units for Cement Plants with Claudius Peters, Germany and Partner Teknik, Turkey.
(i) Hot Stamping Presses with AP&T, Sweden.
C) Water Treatment:
(i) Industrial Waste Water Treatment and Desalination Plants with RWL Water, Israel.
D) Process Plant Equipment:
(i) Screw Plug Heat Exchangers and Process Waste Heater Boilers with TEi, USA.
(ii) Process Fired Heater with Riley Power, USA.
4.08 Some of these tie-ups are expected to result in business in the years to come. No major investments are envisaged for the manufacture of these products.
4.09 In view of the adverse economic environment, the export order booking was less than last year. The appreciation of rupee also affected competiveness adversely.
4.10 However, our focus on exports continued during the year. The efforts included regular visits to existing customers as well as prospective customers, Engineering Procurement and Construction (EPC) companies, International Consultants and also participation in International Exhibitions and Conferences.
4.11 The Company was the Platinum Sponsor at the International Society of Sugarcane Technologists Conference. The officers and consultants of the Company presented six technical papers during the conference.
4.12 The company also participated in Metal Forming Exhibitions in Japan, Indonesia, Russia, Vietnam and Germany.
BOILERS AND AIR POLLUTION CONTROL EQUIPMENT:
4.13 The Boiler Division continued to be the leader in its range of large Industrial Boilers in the Domestic market.
4.14 The Company booked its first order for a Cement-Waste Heat Recovery Boiler and also for a large Blast Furnace Gas Fired Boiler.
4.15 With a focus on delivery, the Division was able to shorten the cycle time of its products. For instance, it commissioned a large Circulating Fluidized Bed Combustion Boiler of 300 tph capacity in less than 15 months.
4.16 Slop Fired Boiler, a pollution control solution for Distilleries, supplied by your Company have been operating well in India and abroad. This has enable the Company to secure more order for such Boilers.
4.17 Electrostatic Precipitators supplied with technology from Envirotherm GmbH, Germany, operated satisfactorily and gained widespread acceptance in the market.
SUGAR PLANTS & MACHINERY:
4.18 The Company continues to be a global leader for the supply of Sugar Plants & Machinery.
4.19 The Company successfully completed four Complete Sugar Plants and seven Modernization and Expansion Projects during the year under report.
4.20 The Company is executing orders for two large Falling Film Evaporators and one large Mill. When commissioned, these will be the largest such Evaporators and Mill to be working in India.
4.21 The business of Projects for Distillery and Sugar Refinery progressed well.
4.22 Orders of two Distillery Plants along with Boiler, Power Plant and Civil Construction (30 KLPD & 40 KLPD) were supplied and commissioned in a record time of 10.5 months. A fresh order for a Distillery of a capacity of 160 KLPD has been received recently.
4.23 The first Standalone Sugar Refinery project is under execution in Indonesia. Fresh orders for Standalone Refineries have been received from Central America. An order has also been received for machinery for a Standalone Refinery with a capacity of 2500 tonnes of refined sugar per day for supply to Saudi Arabia.
4.24 The Division has filed application for Patents for some Sugar Machinery items.
4.25 The EPC Division continues to be the leader in EPC Power Plants of less than 100 MW.
4.26 The Division has diversified into the projects of material handling and has secured its first such order, which is presently under execution. The Division has also secured its first order for construction of a factory for the Indian Railways, where the Division will supply equipment to the specifications given by the Railways.
PRESSES AND CONTRACT MANUFACTURING:
4.27 The Division, over the years, has developed a sophisticated and technologically advanced range of Presses. This has resulted in record orders.
4.28 The orders for Standard Mechanical Presses (SMP) manufactured at the Bawal Unit of the Company were also at a record level at the close of the year.
4.29 In addition to the Automotive Sector, your Company has secured good orders from Non-Automotive Sectors, including Defence, Dairy and Railways.
4.30 The technical agreement with AP&T, Sweden, will help the Division in getting business for Hot Forming Hydraulic Presses, which will enable car manufacturers to achieve higher safety standards.
4.31 The Government of India has taken initiatives to revive fertilizer units. The implementation of EURO VI emission norms will also involve investments in oil refineries. The market scenario for the coming years is, therefore, optimistic with new projects lined up in the fertilizer and refinery sectors.
4.32 During the year under report, the Company made a break-through in securing orders for High Pressure Exchangers for the Fertilizer sector and High Pressure Feedwater Heaters for the Power sector. Repeat orders for Condensers and Low Pressure Feedwater Heaters were also received.
TUBING AND PIPING:
4.33 As reported last year, the Company increased its Piping manufacturing capacity substantially.
4.34 During the year, the Division received approvals to become a supplier for projects of NTPC, EIL and other reputed Indian and International customers.
4.35 The Division also obtained ASME PP certification and received orders for execution with PP stamping.
4.36 The Division hopes to book substantial business from both domestic and export markets.
LIQUIFIED GAS CONTAINERS:
4.37 The Company continues to be the leader in the world market for the supply of Chlorine Ton Containers.
4.38 The Division has successfully developed and tested new models of Containers for new generation of Refrigerant Gases. These have also been approved by the Government of India. The Containers supplied for the Refrigerant Gases are working well.
4.39 The Iron Foundry Division had a record turnover during the year. The efforts towards export have fructified and the Division could book good orders from the European market.
4.40 The market for Steel Castings for Steam Power and Hydro Power sectors was depressed during the year. However, the Unit was able to get good orders from other Sectors such as Pump & Valves.
4.41 Efforts in the recent years to develop sophisticated grades such as duplex, super duplex and nickel based alloys helped the Company to increase its market share.
4.42 As many of the customers want Castings in a finish machined condition, the installation of a finish machining facility by the Unit is in progress.