**ATV Projects India Limited** is a specialized Indian engineering firm providing comprehensive **Project Management**, **Engineering Services**, and **Project Supplies**. The company is currently undergoing a strategic transformation, pivoting from a traditional equipment manufacturer to a diversified industrial player. This transition involves modernizing 35-year-old infrastructure, expanding into **Engineering, Procurement, and Construction (EPC)** services, and aggressively monetizing surplus land assets to fund growth. --- ### Industrial Manufacturing Capabilities & Specialized Certifications The company’s core operations are centralized at its **Mathura (Uttar Pradesh)** facility, which is equipped for heavy fabrication and precision machining of critical industrial equipment. * **Key Industry Verticals:** Chemical & Petrochemical, Hydrocarbons, Cement, Hydro Power, Steel, Sugar, and Power sectors. * **Specialized Systems:** Expertise in **Flue Gas Desulfurization (FGD)** and **DeNOX** systems for environmental compliance in heavy industry. * **Technical Accreditations:** * **ASME U, S, & R Stamp Certifications:** Enables the manufacture of high-pressure vessels of superior thickness meeting international standards. * **EIL (Engineers India Limited) Approval:** Enlisted for **Carbon Steel Pressure Vessels** (up to **100 mm thickness**), heat exchangers, and process equipment. * **PDIL (Projects & Development India Limited) Approval:** Approved manufacturer for the fertilizer and allied sectors. * **RDSO Approval:** Recently secured for heavy steel girders, allowing the company to bid for **Railway Bridge fabrication**. ### Strategic Modernization & Infrastructure Upgrades To maintain competitiveness and target high-value contracts, the company is reinvesting in its technical infrastructure: * **Precision Machining:** Installation of a new **Vertical Turret Lathe (VTL)** and the retrofitting of a **CNC Horizontal Boring Machine (Skoda make)** to enhance speed for cement and hydro project components. * **Tube Bending Technology:** Comprehensive retrofitting of a non-operational **Tube Bending Machine** via the OEM to secure high-margin orders for **economizers and superheaters**. * **Design Prowess:** An in-house **Design and Engineering** team executes complex drawings and designs, ensuring the company meets stringent tender eligibility for the hydrocarbon sector. ### Asset Monetization & Real Estate Diversification A core pillar of the company’s strategy is the monetization of unutilized land to fund modernization and debt reduction. The company has amended its **Memorandum of Association (Object Clause)** to include real estate development. | Asset Location | Size | Status / Strategy | | :--- | :--- | :--- | | **ATV Nagar, Mathura** | **3.29 Acres** | **MOU** executed with **Shri Vrinda Infracon Pvt. Ltd.** for **Rs. 47.75 Crores**. | | **Mathura Plant (Rear)** | **3.73 Acres** | Approved for sale, lease, or joint venture (JV) development. | | **Nagothane, Maharashtra** | **75 Acres** | **TPE Plant** land approved for sale/lease/JV following permanent closure. | ### Strategic Partnerships & Market Expansion ATV Projects is leveraging joint ventures and government policies to expand its order book, targeting **Rs. 100 Crores** in orders for **FY 2025-26**. * **EPC Alliances:** * **Avant Garde System & Controls:** Partnership for turnkey **EPC Boiler projects** in sugar, steel, and power. * **Korus Engineering Solutions:** Joint bidding for large-scale projects in the **Steel sector**. * **Ethanol Policy:** Exploring technology tie-ups to capitalize on the Indian government's **20% ethanol blending** mandate, targeting both domestic and African markets. * **Tier-1 Client Base:** Active relationships with **L&T, ISGEC, Voith, Andritz Hydro, FL Smidth, IOCL, GAIL,** and **Thyssen/NRL**. ### Financial Performance & Capital Structure The company achieved a significant financial turnaround in **FY 2024-25**, moving from consecutive years of losses to a net profit. | Particulars (INR in Lakhs) | FY 2024-25 (Audited) | FY 2023-24 (Audited) | FY 2022-23 (Audited) | | :--- | :--- | :--- | :--- | | **Total Income** | **1,845.32** | **1,142.17** | **1,008.45** | | **Total Expenses** | **1,748.15** | **1,154.35** | **1,045.22** | | **Net Profit / (Loss)** | **97.17** | **(12.18)** | **(36.77)** | | **Earnings Per Share (EPS)** | **0.18** | **(0.02)** | **(0.07)** | * **Revenue Growth:** Total income increased by **61.5%** year-on-year in the latest fiscal period. * **Taxation & Dividends:** No **Income Tax Provision** has been made due to significant **carry-forward losses** and **unabsorbed depreciation**. Profits are currently retained for growth; no dividends were declared for **FY 2024-25**. * **Capital Raising:** Approved the issuance of **2,500,000 Convertible Warrants** to **Mahalaxmi Import Export Pvt. Ltd.** (Promoter) at **Rs. 40.80 per warrant**, totaling **Rs. 10.20 Crores**. * **Shareholding:** **68.73%** of equity shares are dematerialized. Following a **BSE-approved reclassification** in June 2024, the total promoter holding stands at **26.95%**. ### Risk Profile & Contingent Liabilities The company faces operational sensitivities and significant historical legal challenges. **Operational Risks:** * **Input Volatility:** Exposure to **spiraling steel prices** and rising **energy/power charges**. * **Liquidity:** **Trade recoverables** are identified as a principal risk, requiring strict monitoring. **Legal & Regulatory Disputes:** The company is managing several high-value litigations that could impact future cash flows: | Dispute Type | Amount | Status / Forum | | :--- | :--- | :--- | | **GST Demand (FY 17-18)** | **Rs. 21.59 Crores** | Under appeal; relates to **MIDC office** sale. | | **Provident Fund (PF)** | **Rs. 263.15 Lacs** | Disputed before the **Tribunal**. | | **NBFC Term Loans** | **Rs. 305.74 Lacs** | Under finalization or litigation. | | **Inter Corporate Deposits** | **Rs. 250.00 Lacs** | Under finalization or litigation. | | **Sales Tax Deferment** | **Rs. 182.10 Lacs** | Under finalization or litigation. | **Solvency Note:** Despite these disputes, management and auditors state that no **material uncertainty** exists regarding the company's ability to meet liabilities falling due within the next **12 months**. The company has not been declared a **willful defaulter** by any authority.