Technofab Engineering Limited

Climate Impact & Sustainability Data (2019-04 to 2020-03, 2021-04 to 2022-03)

Company is accredited to ISO 9001:2004 and ISO 14001:2004 for Health, Safety and Environment and OHSAS 18001:2007 for Occupational Health and Safety Assessment series.
Company is in the process of merging these three standards into single document i.e. IMS (integrated Management System)

84.73% drop in turnover.
Loss of Rs. 240.66 Crore (compared to Rs. 29.16 Crore previous year).
Enhanced Working Capital Limits not being made available by Member Banks.
Some contracts terminated and Bank Guarantees invoked.
Unable to fund and roll over project execution activities.
Default on repayment of dues of Lenders / Banks.
Accounts classified as non-performing assets.
COVID-19 pandemic severely impacted operations due to office and project site closures.

Submitted restructuring proposal to Banks.
Holding Operations arrangement with Member Banks to focus on project closure and Bank Guarantee recovery.
Continues to execute EPC projects in water and electricity sectors.
Management is confident of maintaining 'Going Concern' status with restructuring plan implementation.

Committed towards ensuring safe working and eliminating hazards and in protecting the environment including reduction in paper & power consumption and proper disposal of construction & electronic waste

Enjoyed cordial relations with the employees during the year under review and the Management appreciates the efforts and dedication shown by all employees of the Company in offering their support and expects their continued support for achieving higher level of productivity to enable meeting the targets set for the future.

The Company is in absolute compliance with all notified Secretarial Standards as issued by the Institute of Company Secretaries of India (including amendment(s) and subsequent modification(s) therein).

COVID-19 pandemic impacted normal business operations (supply chain disruption, personnel unavailability, lockdowns).
Company incurred losses and negative net worth.
Inability to complete projects on time, leading to invocation of bank guarantees.
Bank accounts classified as Non-Performing Assets (NPAs).
Irregularity in depositing statutory dues.

Submitted a Restructuring Proposal to lenders.
Closely monitoring material changes arising from future economic conditions and impact on its business.
Focus on closing existing projects, collecting outstanding payments, reducing bank exposure, and reducing operational costs.