NSE Symbol: | BSE Code: | ISIN: | Sector:
- Add to Portfolio
- Add to Watchlist
- Add to Alert
I am pleased to inform you that during the year 2012–13 we accomplished better results and our winning streak of new orders continued. This year we focused on effecting organizational change that can deliver the required growth to meet our aspiration in making SPML as one of the most preferred infrastructure developer in the country.
I am happy to inform you that despite slow market conditions, we managed a healthy growth and company's overall turnover increased by 23% and profit after tax increased by almost 300% as compared to last year. We expect this trend will continue in current financial year as well. With the economic reforms and moderate pace of growth in the country, SPML is ideally
positioned through its water, power and environment sectors to meet the infrastructure
requirements of rapidly growing cities and urban areas.
During the year, we completed and commissioned a number of projects which is going to provide millions of people with drinking water facility and illuminating their lives with power connections at their homes. Despite challenges, the SPML team is working very hard to ensure timely completion of all the ongoing projects to build state of the art infrastructure facilities. Certainly this would enhance SPML's market positioning and generate good returns for the shareholders. This year we have also entered into a number of joint venture agreements with renowned water companies from the world to provide best–in–class services to our clients and to be a preferred partner for utilities across the country.
I am very happy to inform you that the year was especially good for our company as we received large orders from the states of Delhi, Rajasthan, Bihar and Karnataka among others. We ventured into two new segments; installation of consumer and bulk water meters in Delhi and a project for power distribution in Bhagalpur, Bihar. These new businesses have opened new avenues and we are hopeful that we will be able to secure more such projects in future. The order book position for our company crossed the mark of Rs. 4000 Crore with the contribution of new orders worth over Rs. 2200 Crore during the year. The new orders are an authentication of our capabilities in executing large projects with quality and consistency and the trust, our esteemed clients' places on us.
Our performance has continued to be recognized by the media and a large number of interviews and media stories were published about our projects in national and international publications. SPML being a thought leader has been invited to speak at various national and international forums and conferences. SPML has been on the forefront in number of policy deliberations and committees constituted by different ministries of Govt. of India and also chairing various expert committees set up by leading industry associations at national and state levels.
I am also pleased to inform you that our efforts towards nation building has been recognized and several esteemed awards such as Infrastructure Excellence Awards and Construction Week India Awards were received by the company during the year. These awards give us much needed morale boosting to continue doing the excellent work.
We perceive Corporate Social Responsibility (CSR) as a very important part of our business. Our approach has been to make enduring social impact through programs that build sustainability. We have created a comprehensive and integrated network to provide effective healthcare and eye care facilities to rural and economically deprived community at all our project areas and beyond. We are also supporting education and environmental initiatives that can raise the awareness level and teaching standards in rural schools.
SPML believes in fairness, transparency, professionalism, accountability and decency in total functioning of the Company, which are pre–requisites for attaining sustainable growth in this competitive scenario. With strong legacy of ethical governance practices, we followed the fundamental ideologies of Trust, Value and Service. The Company has been practicing the principles of good corporate governance over the years and lays strong emphasis on constantly improving on these aspects.
In conclusion, I would like to place my appreciation to board members, the management, our shareholders, bankers, lenders, partners, suppliers, associates and especially our dedicated employees for their consistent support and commitment as well as our esteemed clients for their confidence in us.
Subhash Chand Sethi
SPML Infra Limited