In the power sector, India’s transition towards renewable energy is a key driver of growth. The country’s ambitious target of achieving 500 GW of non-fossil fuel capacity by 2030 will lead to a surge in investments, particularly in solar and wind energy. This is expected to double the renewable energy investments over the next five years, presenting substantial opportunities for EPC companies like ours to contribute to this transformation . We are also seeing a 1.6 to 1.7 times increase in overall power sector investments during FY2025-2029, with EPC contracts forming 40-50% of these projects .

The water sector is similarly primed for expansion, with government programs such as the Jal Jeevan Mission and Smart Cities Mission driving large-scale projects aimed at improving water distribution and treatment. With water projects expected to attract 14-15% of total infrastructure investments, we are perfectly positioned to contribute to sustainable solutions in water treatment, groundwater extraction, and surface water management .

In line with the positive industry outlook, we have filed our Draft Red Herring Prospectus (DRHP). These funds will enable us to fund working capital requirements and general corporate purposes.

The Company is also pursuing the opportunities to expand its business in Africa. The African market, with its growing infrastructure needs in power distribution and water management, offers immense potential, and We believe our experience and qualifications in domestic power transmission and distribution projects will help us to gain customer base in other countries and capitalize on emerging opportunities.

With this favourable environment, coupled with our strong values and clear vision, we are poised for sustained growth. I extend my heartfelt thanks to all our stakeholders for their continued trust and support as we embark on this exciting journey.

Sincerely,

Rakesh Markhedkar

Chairman & Managing Director