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This is the second full financial year of the Company post the financial re-structuring when it became a subsidiary of NBCC (India) Ltd.

I am happy to inform that in these two years, HSCL benefitted greatly from the synergies emanating from such an elite parent company - NBCC (India) Ltd. There have been allround improvements in efficiency, expertise and execution. Leveraging the strengths of NBCC, HSCL has expanded its infrastructure business into several new verticals where NBCC has a strong presence.

Performance Review

It was indeed a year of challenges for the entire construction and infra-structure sector. Project delays due to factors like liquidity and an overall sluggishness in demand led to many projects getting stalled and stagnant, and in many cases, stopped altogether. For HSCL too, it was a challenging operating environment. Despite these adverse conditions, the Company delivered a satisfactory financial performance. The Total Revenue for the year was Rs. 694.77 crore against Rs. 1,030.92 crore in the previous year. Net Profit for the year was Rs. 34.30 crore against Rs. 35.76 crore last year. The Total Net Worth as on 31st March, 2019 was Rs. 100.03 crore compared to Rs. 107.34 as on same date last year. Reserves and Surplus as on 31st March, 2019 were Rs. 30.03 crore compared to Rs. 37.34 as on March 31, 2018.

The Company has recommended a dividend of 33% or Rs. 3.30 per paid-up equity share of Rs. 10/- each face value, subject to the approval by shareholders at the Annual General Meeting of the Company.

HSCL Today

HSCL has a rich and diversified experience of over 55 years in construction. Over the years, the Company has created niche strength in the implementation of integrated steel projects. Today, it has a pan-India presence and diversified infrastructure port-folio. The Company is ISO 9001:2015 certified.

HSCL is a pioneer in implementing specialised and complex steel projects, which contribute to almost 30% of its total revenues. The Company also undertakes Annual Maintenance Rate and other perennial projects with major steel plants.

In the infrastructure sector, HSCL offers premier Project Management Consultancy to clients across civil, structural and mechanical areas for a range of projects like roads, bridges, dams, highways, powerplants, hospital and educational infrastructure, opencast mining, creation of sports facilities and solar power installation, among others.

Proven Track-Record

HSCL has an impressive track-record across projects in various sectors. In the Steel sector, the Company has provided construction and repair & maintenance support to Bokaro, Bhilai, Durgapur, Burnpur and Rourkela steel plants.

In the north-eastern part of the country, the Company has pioneered many infrastructure projects under the Bharat Nirman Programme of the Government of India. This includes construction of rural roads. It has successfully completed the pilgrimage centre at Solopok and the cultural centre at Yangang in Sikkim. It has also been entrusted with the implementation of hospitals and auditorium in Mizoram.

In addition to the above, the Company has executed key projects in the Power sector and completed important projects that include hospitals and roads in Tripura, roads in Jharkhand under PMGSY, schools and hostels for SC/ST students as well as barracks and residential & non-residential quarters for the Indo-Tibetan Border Police in Odisha, residential & non-residential quarters for NDRF Vadodara & Haringhata.

Looking Ahead

With the Government’s renewed focus on boosting the country’s infrastructure, HSCL is poised for a sustained phase of growth and expansion both in the steel as well as infrastructure verticals. In the steel sector, the Company already has in place, an approved rate structure with Bhilai Steel Plant. As new med to high-value projects of SAIL and RINL start, the Company is confident of leveraging its strong relationships and proven leadership. Another promising growth avenue is diversified businesses like Solar Installation, creation of Sports Facilities and educational sector.

With a strong and healthy order book comprising of diversified projects, the overall outlook for the near and medium term is both positive and promising.

Governance and People

HSCL has always believed in and adhered to the highest standards of corporate governance. It is this strong and structured governance framework that ensures value is both safe-guarded and sustained.

The Company is proud of its people, who are its key and most important resources. It is this committed and dedicated workforce of around 450 employees guided by the richly-experienced leadership team that ensures HSCL’s continued progress and consistent performance.

As I conclude, I would like to take this opportunity to express my sincere gratitude to the members on the Board as well as officials of various state and central ministries for their continued support. A vote of thanks is particularly due to all our supplier and vendor partners, without whose help, the Company would have been unable to deliver stellar execution of projects and most importantly, to the each and every employee of HSCL for the unquestionable commitment and unflinching effort they bring in everyday - thank you!

I would also like to thank all our shareholders and our bankers for their sustained faith and trust in HSCL, and assure you that we will leave no stone unturned to continue delivering value.

Yours sincerely,
Shiv Das Meena

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