Chairmans message (A.M.

Naik)

Chairmans message - A.M.Naik

During the financial Year 2006-07 the company has an excellent all round growth and Profitability. The economy is growing at 9.4% which helps the company in fuelling an uptrend in capital expenditure. The Companys order inflows & sales have grown by 37% and 19% respectively and it has also bagged its largest ever order in domestic & international markets such as expansion & modernization of Delhi International Airport and an offshore platform project in Qatar. In line with objective of growing in power sector, the Company has signed an agreement with Mitsubishi Heavy Industries Limited, Japan for super critical boiler technology. During the financial Year 2008-09 the company has a steady growth. Despite the economic slowdown the company has performed well in various sectors. The Company is expanding its capacity due to increase in demand like in AhmednagarMaharashtra, Hazira in Gujarat etc. And setting up a shipyard at kattupalli in south India which will enable the company to manufacture a defense ships. During the financial Year 2009-10 the company has registered a growth of 9%due to the good economic situation in the year 2010. There is a strong focus on technology in order to drive the R&D and also the capacity expansion of the plant is in progress. The company acknowledges its responsibility towards the sustainable development and initiates a project in solar photovoltaic power. The international Business is improving slowly and the company has yielded result in Middle East and Far