Mewar Hi-Tech Engineering Limited is an Udaipur-based manufacturer specializing in the design, assembly, and supply of comprehensive stone crushing, screening, and customized size-reduction equipment. Operating within the **Construction Equipment** segment, the company serves as a critical partner to the Indian infrastructure and mining sectors. --- ### **Core Product Portfolio & Customization Capabilities** The company manufactures a diverse array of heavy machinery and related spare parts designed for high-durability industrial applications. Its product line is categorized into four primary areas: * **Crushing Equipment:** A full suite of reduction machinery including **Jaw Crushers, Cone Crushers, Roll Crushers**, **Vertical Shaft Impactors (VSI)**, and **Horizontal Shaft Impactors (HSI)**. * **Mobile & Specialized Plants:** **Mobile Crushing Plants** designed for rapid deployment and **Sand Washers** for material processing. * **Auxiliary Machinery:** Essential support equipment including **Impactors, Vibrators, Vibrating Screens**, and **Conveyors**. * **Service & Spares:** Integration of professional advisory services with a robust supply chain for spare parts, ensuring long-term equipment uptime for clients. --- ### **Strategic Infrastructure & Asset Base** The company’s operations are centralized in the **Sukher Industrial Area, Udaipur (Rajasthan)**. Its manufacturing footprint is supported by significant immovable assets: | Asset Description | Area / Detail | Acquisition Year | | :--- | :--- | :--- | | **Factory Land (Araji No. 1863/414)** | **0.21 Hectare** | **2008** | | **Factory Land (Araji No. 1862/414)** | **3 Bighas** | **2010** | | **Total Land Book Value** | **₹1.13 Crore** (as of March 2022) | - | | **Asset Status** | Mortgaged/Pledged with **Corporation Bank** | - | --- ### **Financial Trajectory & Performance Metrics** Mewar Hi-Tech has successfully transitioned from a loss-making entity in **FY 2021-22** to a period of accelerating profitability. Management has adopted a policy of **zero dividends**, opting to retain earnings to fund future growth and capital requirements. **Comparative Annual Performance** | Metric (INR) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Revenue from Operations** | **₹50.53 Crore** | **₹44.28 Crore** | **₹52.36 Crore** | | **Profit Before Tax (PBT)** | **₹3.45 Crore** | **₹1.23 Crore** | - | | **Net Profit / (Loss)** | - | - | **₹80.85 Lakh** | | **Earnings Per Share (EPS)** | **7.31** | **2.56** | - | **Balance Sheet Strength (As of March 31, 2024)** * **Total Assets:** **₹45.98 Crore**, dominated by **Inventories (₹24.97 Crore)** and **Trade Receivables (₹10.74 Crore)**. * **Equity Base:** **Share Capital of ₹3.90 Crore** and **Reserves & Surplus of ₹4.87 Crore**. * **Liquidity Recovery:** Net cash from operating activities improved to **₹36.52 Lakh** in FY24, rebounding from a significant negative cash flow of **(₹6.92 Crore)** in the prior period. --- ### **Market Dynamics & Growth Catalysts** The company is positioning itself to capture a larger share of the expanding Indian stone crushing equipment market, which is projected to reach **$264.8 million by 2032** with a **CAGR of 10.72%**. * **Infrastructure Tailwinds:** Growth is primarily driven by **Government of India** funding for roads, highways, and transportation projects. * **Sectoral Expansion:** Rapid growth in the mining sector and the **7-8% growth rate** of the broader construction industry. * **Operational Innovation:** Implementation of **data streaming, hyper-localization**, and "Make in India" strategies, such as mobile crushing solutions that reduce plant relocation costs. * **Strategic Positioning:** Tapping into the **start-up ecosystem** and state/central utility markets to diversify the client base. --- ### **Governance & Leadership Continuity** To ensure long-term stability, the company has secured its key leadership for a **5-year term** effective **September 1, 2024, through August 31, 2029**: * **Mr. Chatrsingh Harisingh Rathore (Managing Director):** Leads with an annual salary of **₹18,00,000** plus statutory perquisites. * **Mrs. Reena Rathore (Whole-time Director):** Re-appointed to maintain executive continuity. * **Shri Ghanshyam Joshi (Independent Director):** Re-appointed for a second term to ensure board-level oversight and compliance. --- ### **Risk Profile & Mitigation Framework** Investors should note the specific regulatory and operational risks associated with the company’s recent history and industry environment. **1. Regulatory & Listing History** * **BSE SME Platform Status:** Trading was suspended in **August 2022** due to SEBI non-compliance. Following a delisting order in **July 2024**, the company successfully applied for revocation, paid penalties, and resumed trading on **December 26, 2024**. * **Tax Liabilities:** Operates under **Letter of Undertaking (LUT)** for exports; failure to export within **3 months** of invoice triggers immediate **CGST** liabilities plus interest. **2. Operational & Internal Controls** * **Inventory Management:** Auditors have noted that inventory records for **Work in Progress (WIP)** have historically been inadequate or unreliable. * **Resource Constraints:** The industry faces high costs and periodic **unavailability of raw materials**, alongside a critical shortage of **skilled labor**. * **Environmental Oversight:** Stringent noise and dust regulations, combined with periodic **mining bans**, pose a threat to consistent demand. **3. Financial Risks** * **Liquidity:** While auditors expect the company to meet short-term liabilities, there have been past delays in statutory payments due to **fund shortages**. * **Market Competition:** Low barriers to entry for tech-enabled services and a continuous influx of new entrepreneurs exert pressure on margins. **4. Mitigation Strategy** The Board utilizes a formal risk framework to address internal (staff attrition, infrastructure) and external (interest rates, tax regimes) threats, focusing on **operational efficiency** and **tightened financial controls** to sustain the current turnaround.