As we face the future, let us continue to display the striving for excellence and rising to challenges as we have done before. Let us be more aggressive in incorporating expansion possibilities in our growth plans. And let us ensure that our strategies and our actions will enable us to always LIVE THE FUTURE! I am confident that we can count on the continued support and commitment to achieve greater heights in the years ahead.
I am very pleased to report back that we ended the year on a positive note, when the global and country’s economy remained adversely affected; Fedders Lloyd continued to maintain its growth strides. The Company posted total revenue of Rs. 9061.79 Million, registering a growth of 6.81% over the previous year. The Net Profit, however, was lower by 3.96% at Rs. 446.65 Million, due to higher interest and depreciation for the investments made by the Company to secure its future. The revenue generated from Steel Structure & Engineering business registered a growth of 150% while the Profit before Tax from this business grew by 84.26% as compared to the Previous Year. During the year, the Total Revenue generated from Power Projects business registered a growth of 67.20% while Profit before Tax from this business registered a growth of 63.40% as compared to the Previous Year. On the operational front, our focus during the year remained to drive excellence across all aspects of the business to improve profitability
The year 2011-12 was a land mark year for Fedders Lloyd. As a part of our focussed Business Strategy, during the year, the Company achieved a major milestone forward with the Company’s presence in the State of Gujarat with a grand inauguration of its integrated state-of-art manufacturing facility for manufacture of Wind Turbine Towers and Heavy Precision Fabrication and machining facility in Bharuch District, Gujarat. I’m pleased to inform that it is indeed a remarkable achievement that the plant was set-up in a record time of 9 months, which clearly reflects our clear strategic focus and the Company’s philosophy of ‘timely execution and implementation’, to meet the evolving needs of markets, customers and other stake holders. The plant has an initial annual production capacity to manufacture up to 250 nos. of Wind Turbine Towers up to 3 MW and Heavy Precision Fabrication of components up to 80 MT weight and is one of the biggest Precision Machine Shop equipped with floor boring (21 mtrs travel) & vertical turret lathe (8.5 mtrs diameter) sourced from UK & USA.
While global markets reverberated from developments in the Euro zone, and the Rupee depreciated significantly, we acted both quickly and decisively to position our business domestically as well as in high growth, developing geographies across the globe. The Company's performance in the international markets was noteworthy with bagging of various prestigious contracts in Ethiopia, Myanmar, Nigeria, Uganda, Rwanda, Ghana and Kenya funded by various multilateral and bilateral funding agencies.
We hold sustainable development at the core of our identity and purpose. This embraces all parts of our business, including interface with the individuals and communities that we live and work with. The Lloyd Group implements its Corporate Social Responsibility initiatives through the Pandit Kanhiya Lal Punj Trust, a philanthropic, non-profit body within Lloyd group.
At Fedders Lloyd, we are driving a focused strategy to develop technology, products and solutions that are ahead of the curve and positioned to meet emerging demands of the market. All our efforts are directed towards positioning Fedders Lloyd to leverage emerging opportunities in the market place to accelerate our growth in the future.
The energy in our leadership team and the high passion levels in our employees give us the confidence that we are well on our way to building a strong and sustainable business. I sincerely thank our customers, employees, partners and supporters for their continued trust in building Fedders Lloyd for this exciting future.h3
Mr. Brij Raj Punj