Greetings to all.
It is with immense pride and deep gratitude that I present to you the 60th Annual
Report of Raunaq International Limited for the Financial Year 2024-25.
After enduring a prolonged series of global economic shocks, the world economy appears
to have stabilized, though growth remains moderate and below expectations.
The January 2025 World Economic Outlook (WEO) has revised global growth projections
down due to factors such as persistent inflation, rising tariff barriers, and geopolitical
uncertainties, especially in Europe and East Asia.
In this challenging global landscape, India's economy continues to show remarkable
resilience. Despite these external challenges, India's GDP is projected to grow at
around 5.9% in 2024, underpinned by government-driven infrastructure development,
strong reforms, and efforts to boost employment across sectors. The country remains a
bright spot in the global economy, with the government's continued focus on infrastructure
and manufacturing playing a central role in sustaining growth.
Infrastructure: A Key Enabler for India's GrowthIndia's future economic growth,
including the aspiration of becoming a US$ 26 trillion economy by 2047, is
significantly supported by infrastructure development.
The Gati Shakti National Master Plan, alongside the National Infrastructure
Pipeline (NIP), continues to accelerate systemic reforms, enabling multimodal
connectivity, and transforming the infrastructure landscape.
The ongoing push towards infrastructure development also drives complementary sectors
such as housing, urban development, and construction, fueling the growth of allied
industries like EPC and logistics.
The Power Sector: Essential for Growth
In line with these national priorities, India's power sector remains fundamental
for economic prosperity. The country has transformed its power industry from one with a
shortage of electricity to a power-surplus nation, with a strong emphasis on renewables
and achieving universal electrification. With India's energy demand expected to
continue rising, the development of power infrastructure will remain a critical
focus for years to come.
Performance Highlights FY 2024-25
I am pleased to share that FY 2024-25 marked a significant turnaround for Raunaq
International Limited.
Total revenue rose sharply from 465.11 Lakhs in FY 2023-24 to 2,206.43
Lakhs, reflecting the successful execution of our strategic initiatives and
operational focus.
Despite challenges in securing Bank Guarantees due to tighter banking norms in the EPC
sector, we secured a prestigious contract from Adani Power Limited for the 2x800 MW
Ultra Supercritical Thermal Power Plant (Phase-II) in Chhattisgarh, valued at 16.80
Crores.
Additionally, we secured a new work order in FY 2025-26 for the Mahan Ultra
Supercritical Thermal Power Project in Madhya Pradesh amounting 15.40 Crores,
to further reinforcing our market presence.
Expanding into Trading Operations
Alongside EPC activities, our trading operations in alloy steel for auto
components contributed 899.92 Lakhs, demonstrating potential for continued growth
and diversification.
Looking Ahead
With a solid performance foundation, we are confident that securing improved banking
facilities will further enable our ability to pursue new EPC contracts and strengthen
working capital for trading operations. We are well-positioned to continue our growth
trajectory in both sectors.
Gratitude and Commitment
I extend my heartfelt thanks to all our stakeholders-employees, partners, customers,
and shareholders—for their continued trust and support. We are committed to building
a resilient, sustainable, and future-ready business, focused on long-term value
creation.
Let us look forward to a stronger and brighter future-together.
| Warm regards, |
Surinder Paul Kanwar |
| Chairman and Managing Director |