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संघवी फोर्जिंग एंड इंजीनियरिंग

बीएसई: 533411  |  NSE: SANGHVIFOR  |  ISIN: INE263L01013  |  Castings & Forgings

खोजें संघवी फोर्जिंग एंड इंजीनियरिंग कनेक्शन Mar 16
अध्यक्षीय भाषण साल : Mar '18

Dear Shareholders,

It gives me immense pleasure to present you the Annual Report 2017-18 of Sanghvi Forgings and Engineering Limited. We are one of the leading forging players in India serving to some of the reputed clients across the globe. In FY 2018, we continued to focus on increasing our capacity utilization as well as exports while aiming towards improving our margins.

‘Continuous Improvement’ is a corporate strategy that we have always followed diligently. Our challenge has been to adapt to the changing landscape as swiftly as possible, while continuing to accelerate the growth engine. It is encouraging for me to see every member of our family rising to the challenge and making SFEL stronger and more sustainable. Continuous learning and innovation has enabled us to think faster than the industry, evolve with smarter solutions for discerning customers and seek newer growth markets across geographies.

It was a transformative year with the introduction of the Goods and Services Tax (GST), an important development that has created a single national market that would benefit the industry. While trade conditions remained volatile during early implementation, it has since stabilized and there is a gradual improvement in overall industry.

During the year, the global economy strengthened owing to increase in economic activities, rise in the global demand and improvement in market sentiments. As a result, the economy grew at a rate of 3.8% in CY 2017 as against that of 3.2% in CY 2016. The growth of world economy was primarily driven by growth of emerging markets and developing economies including India and Brazil.

Emerging markets in Asia continue to be the primary growth driver globally. However, uncertainties surrounding the business environment preclude optimism, as monetary easing in some countries, protective policies in developed nations and sluggish growth of the Chinese economy require close monitoring.

The Indian forging industry experienced a growth of 12% during FY 2018 and the total production increased from 23.98 lakh tons in FY 2017 to 25.24 lakh tons in FY 2018. During the year, the growth of Indian forging industry was mainly driven by rise in sales of automobiles of different categories. The industry grew despite the rise in steel price that affected the export competitiveness in the global market of the players in forging industry. In FY 2019 the industry is expected to grow further at a rate of 10% with increase in demand by the automobile industry.

Performance

We received various order from different sector during quarter four of FY 2018. This will help us to increase our sales, improve our realizations and our efficiency. It will also help us to strengthen our position in domestic oil and gas sector while attaining the position of one of the leading players in the industry.

We believe with entry in new markets, we are now better placed to serve our Defence and Space Programme.

Strategic initiatives

As we embark upon another transformation year, I would like to take this opportunity to look back at what we accomplished so far; and address the key changes we are envisaging over the coming years. The preceding business transformations focused on technology up gradation, foraying into new sectors, widening of customer base, and more importantly, resulted in building a sound knowledge base about metallurgy and metal forming.

Expanding product portfolio:

- Opportunities in Space Program:

This sector continues to be of importance, despite its slower than anticipated pace of progress. We are confident of growing this business through new product development and customer acquisitions. This business has a long gestation period and does take time before seeing any major momentum.

- Defence components: The business primarily focuses on supplying critical components to various defence agencies. With the Government’s enhanced focus on indigenization, we expect this business to grow at a healthy pace, driven by new products and systems development. We are making steady progress in the business, and we are encouraged by the response of the defence establishment.

Over the past few years, we have developed a host of products with a significant level of indigenization, with the capability to scale up very fast as soon as a major maiden order comes our way.

Value Added Process

We aim to deliver quality products to our customers and continued to focus in this direction. Over the years, we have received various approvals and certification from both national as well as international institutions for the quality of our product.

We have Presence in more than 20 Countries and Having Subsidiary in Netherland to help us to make strong Market Presence in Europe.

People

We believe that people work best when there is a foundation of trust.

For Sanghvi, our most valuable assets are our employees. Their commitment to excellence, innovation and making the world a better and safer place is a key reason for our success.

We are fortunate to have so many talented people with different backgrounds, interests and skills who come together to make Sanghvi a strong and thriving company. Together, we develop the technologies, products and offerings of the future. Sanghvi is a place where teamwork is essential. Yet our employees also maintain the freedom to work on their own, be creative and make their own decisions. And, most of all grow both personally and professionally.

The collective capabilities of our people have taken us far, and we will continue to invest in developing our team to sharpen their capabilities and introduce industry-leading practices. We are also working to instill a corporate culture that enables teams to take initiatives and explore new opportunities. It is only through consistent innovation and empowerment of our people that we will be able to sustain our leadership in our focus areas. Our people are passionate about thinking ahead of the curve and accelerating the pace of innovation in this period of dramatic change.

We value each other’s individuality and system of beliefs and work together to enhance their own capabilities. It is this environment that enables us to incubate new ideas that can change the future.

Sustainability

The need for truly sustainable business model for twenty first century life remains one of the most critical challenges facing the global community. As an Engineering company, Sanghvi has the experience and expertise to put our work in ways that can executed timely with care of safety and the environment. We believe this is a direct route to a successful, profitable business that adds value to our customers, their customers, consumers, and the planet.

Sanghvi Forging & Engineering Ltd. believes that the day-to-day actions taken by each Sanghvi’s employee will ultimately demonstrate our commitment and progress towards sustainable growth. Our actions are driven by our partnerships and voluntary initiatives as well as by our policies, principles and positions. All are critical to integrating sustainability into our strategies and practices.

Our constant efforts to evolve from our present situation have enabled us to be creative and competent in every industry. We at SFEL have put in every effort to maintain a greener planet and leave as less carbon foot print as possible can.

In the coming years we will continuously work towards expanding our presence and improve our financial performance.

On behalf of my colleagues on the Board of Directors, I would like to thank our employees for their hard work, our shareholders to put their trust and faith upon us, our customers to appreciate our products and our management for their coordination and support. We hope for a better year ahead.

Regards,

Mr. Jayantilal B. Sanghvi

Chairman & Managing Director

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `271 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `309 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `58 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `299 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `413 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `124 Cr की बिकवाली की
  • HSBC ON CASTROL : BUY रेटिंग, लक्ष्य बढ़ाकर `165/Sh
  • MS ON FUTURE RETAIL : Overweight रेटिंग, लक्ष्य घटाकर `540/Sh
  • CREDIT SUISSE ON ITC : Outperform रेटिंग, लक्ष्य `330/Sh
  • MORGAN STANLEY ON GRASIM : Overweight रेटिंग, लक्ष्य `875/Sh

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