The meet was chaired by Aurana Advani, Executive Chairman of the company.

Highlights of the call:

The company crossed sales of Rs 500 crore for the first time in FY 2019.

In FY 2019 the company sold high volumes in consumables and equipment business.

It produced over 40000 MT of welding in FY 2019.

The company strengthened its industrial leadership.

Welding and automation business performed well due to new launches in FY 2019.

It hopes to achieve sales of Rs 800 crore by FY 2022.

The company started offering 3 years warranty on selected products which received response in the market.

Its RD has helped it develop new products for railways, defence and infrastructure.

New products and providing solutions to customers played a critical role in strengthening market presence and addressing new markets.

The company aims to be best-in-class company on the back of innovation in welding and product solution and hopes for a good growth in FY 2020 notwithstanding the economic environment and market conditions.

The company has 300 distributors on PAN India basis apart from 11 sales offices.

The company continued to grow in both the segments and improve market share.

Government initiatives to attract investments in the manufacturing sector provide new business opportunities for the company.

Make in India initiatives and generate employment will open up new business opportunities for domestic industry.

It is witnessing a strong demand for its products from its traditional segments like Oil & Gas, Power, Heavy Engineering, as well as new segments such as Defence and Railways.

The company continues to explore new markets for exports but concentrate efforts in the GCC countries.

Slowdown in GDP, if any, will impact demand for its products.

In FY 2019 Project engineering business was impacted due to the tapering of revenue in case of a large project, which was nearing completion.

There was also delay in finalization of new orders for its Project engineering business.

The management expects FY 20 to be better than FY 2018-19 with respect to economic growth, inflation, and investments.

The company incurred capex of Rs 22.39 crore in FY 2019.

The capital work-in-progress as at 31st March, 2019 was Rs 1.07 crore.

Capex planned for FY 2020 is Rs 17.72 crore largely for automation and increasing capacity for new products.

Outlook for FY 2020 looks good and the momentum in demand looks sustainable.

It sells its product in 70 countries.