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Welcome to the Sunil Hitech family:
We completed yet one more financial year together. This was a year of global economic slowdown and full of challenges.
The unprecedented prospects facing frontline companies like ours are reflected in the fact that India added over 14,000 MW of generation capacity in 2011–12 compared with only 9,585 MW in 2009–10. The private sector accounted for almost 55 percent of the total capacity incorporated during the year under review.
If you appraise this success considering the several challenges plaguing the country – land acquisition and right–of–way issues, political and corporate scams, rising inflation and tightening monetary policies – you will appreciate the enormity of this accomplishment.
India's capacity addition in the Tenth Plan (FY02–07) was 21.1 GW against a targeted 41.1 GW (50 percent realisation). The government set an ambitious target of 78,700 MW capacity addition in the Eleventh Plan period (FY07–12) and added 41,297 MW (53 percent) in the first four of the five years. This indicates that India is adding considerably larger capacities over the years, a trend that is likely to sustain.
To deliver a sustained GDP growth of 8 percent till FY 2031–32, India's generation capacity needs to grow to 962,210 MW, multiplying manifold the current generation capacity. This implies an 8.6 percent CAGR over 22 years and an average capacity addition of over 36,000 MW every year – almost four times the capacity addition rate in the current Five Year Plan.
At Sunil Hitech, we are rightly positioned to capitalise on this massive projection on account of our ability to provide integrated end–to–end services including power plant maintenance. We possess a brand–enriching base of 34–plus customers, a robust balance sheet and a reputation for integrity.
Besides, our subsidiary SEAM Industries Limited manufactures critical products that represent the backbone of power plants. Our group company Gangakhed Sugar and Energy Limited enjoys an entrenched presence in the manufacture of sugar, power and allied products. Our institute I–Com focuses on the development of power plant professionals. In view of growing opportunities in the real estate sector, we are in the process of forming a partnership with a company possessing rich expertise in the sector.
In recent times we were awarded with prestigious awards like 'Best Safety Performance' award from JSW Energy Ltd. for the Bellary Project on occasion of National Safety Day 2012, 'Best Safety Implementation Award' from MAHAGENCO for Khaperkheda Project. 'Best EHS Performance Award' from L&T Power for the Champa Project during April–September 2011 and 'Accident Free Safety Certificate' from Tata Projects Limited, which demonstrates our ability to leverage effective planning and control to achieve our goals.
As we broaden our horizons to strategically diversify into other businesses, we invite you to be a part of one of India's attractive growth proxies.
Wishing all of you a very happy year ahead.
Ratnakar Manikrao Gutte,
Chairman and Managing Director