Message from the Chairman

Dear Esteemed Shareholders,
I extend my sincere greetings to all of you and trust that this message finds you and your loved ones in good health and safety.
The past couple of years have indeed posed unparalleled challenges to individuals and enterprises alike. Raunaq EPC International has been no exception in this regard. Reflecting on FY 2022-23, it’s evident that India has demonstrated exceptional economic performance. Amidst a backdrop of global economic slowdown, inflation concerns, and geopolitical tensions, India has outperformed as one of the world’s fastest-growing economies. With a growth rate of 6.1% during FY 2022-23, following a notable 9.1% growth in the preceding fiscal year, India’s economy has showcased remarkable resilience.
This improved economic outlook can be attributed to a multifaceted approach. The Indian government’s focus on selfreliance and domestic manufacturing has gained significant momentum in the wake of the pandemic and global uncertainties such as the Russia-Ukraine conflict. The “China Plus One” strategy has further reinforced India’s advantageous position due to its manufacturing capabilities, research and development prowess, and the availability of skilled labour at a reasonable cost.
In tandem, the Reserve Bank of India’s (RBI) efforts have contributed to enhanced credit growth and a healthier financial sector, coupled with commendable tax collection and inflation control. The recent Union Budget for 2023 has underscored the significance of manufacturing and infrastructural development through augmented capital expenditure allocations. These strategies, coupled with a strong emphasis on digitalization, have the potential to drive India’s economic growth and usher in new opportunities.

Infrastructure Sector
The infrastructure sector serves as a pivotal driver for India’s economic advancement. The sector garners substantial governmental attention aimed at implementing policies for the timely establishment of top-tier infrastructure within the nation. This encompasses various domains such as power generation, bridges, dams, roads, and urban infrastructure development.
Within this context, the Indian government has earmarked significant funds-approximately US$1.4 trillion-over the period of 2019-23 for infrastructure initiatives to foster sustainable national development. Notably, a substantial investment of Rs. 5,000,000 crore (US$750 billion) has been proposed for railway infrastructure from 2018-30.


Power Sector
Electricity generation plays a pivotal role in national progress. To ensure steady economic growth, it is essential to fortify the electrical infrastructure. India’s power generation mix spans from conventional sources like coal, natural gas, and hydro power to renewable sources such as wind, solar, and bioenergy.
India’s power sector stands out for its diversification, encompassing both conventional and non-conventional sources. The increasing demand for electricity, set to surge further in the years ahead, necessitates substantial additions to the existing power generation capacity. As of 2021, India ranks prominently in wind, solar, and renewable power installed capacities, standing as a leader among G20 countries in fulfilling the Paris Agreement commitments.

Company Review
The past fiscal year posed certain challenges for Raunaq EPC International. Constraints in banking facilities hindered the company’s ability to bid for new projects. The company, however, persevered by completing ongoing projects, albeit with some disruptions due to the pandemic. To bolster revenues, the company engaged in trading activities. Standalone revenue for FY 2022-23 amounted to Rs. 778.96 Lakhs, marking a 24% decline from the previous fiscal’s revenue of Rs. 1024.28 Lakhs.
On the execution front, the company accomplished significant milestones in FY 2022-23, including the completion of projects such as the Large Dia CW piping system at NUPPL Ghatampur, the Additional Ash Water Re-circulation project at NTPC Ramagundam, and the LP Piping & FOHS project at NTPC/BRBCL - Nabinagar.

Business Outlook
Going forward, Raunaq EPC International intends to tactfully approach new EPC tenders while leveraging its extensive experience in the field. The company also seeks to explore opportunities within the trading and machining sectors, particularly in the auto component industry. Our commitment lies in timely project execution, fueled by top-notch engineering capabilities. We are equally dedicated to advancing our trading and machining activities alongside our EPC projects, all within the confines of our available banking facilities.

Closing Note
I extend my heartfelt gratitude to our valued employees, customers, partners, business associates, and stakeholders. Your unwavering faith and support have been instrumental in our journey. As we move ahead, our dedication remains steadfast in generating value for all stakeholder

Warm Regards,

Surinder Paul Kanwar
Chairman and Managing Director