Vishnu Prakash R Punglia has extensive experience in successfully executing water supply projects involving the construction and development of various vital infrastructures. To date, the company has completed more than 75 WSPs.
The company has executed WSPs for multiple states, including Rajasthan, Uttar Pradesh, Manipur, Uttarakhand, Gujarat, Assam, and Haryana, as of July 15, 2023.
As of July 15, 2023, ongoing projects amounting to Rs. 6183.58 crores are in progress. Among these, work worth Rs. 2384.05 crores has already been executed.
Over the years, the company has been actively involved in a wide spectrum of infrastructure projects commissioned by various departments of both Central and State Governments, spanning diverse locations and sectors.
The company has consistently secured multiple projects from the same clients, including 19 new projects from the Public Health Engineering Department (PHED) in Rajasthan over the past two years.
As of March 31, 2023, the company's fleet comprises approximately 499 construction equipment and vehicles.
The combined gross block value of the company's property, plant, and equipment stands at Rs. 136.12 crores.
The company has significantly enhanced its project execution capacity over time. In 2021, they secured a WSP from PHED in Manipur, valued at Rs. 433.29 crores. It's a substantial increase compared to a previous partnership project with PHED in Rajasthan back in 2002, which was worth Rs. 1.98 crores.
The company faces potential risks from ongoing litigation. If decided unfavorably, these could negatively affect its business.
The company primarily operates in Rajasthan. Any issues in this region could adversely affect its business.
Most of the company's projects fall under the water supply projects category. Focusing heavily on this segment brings business concentration risk, which could harm its financial condition and operational outcomes.
The company's free operating cash flow to debt ratio has been negative as of March 31, 2023, and March 31, 2022. If the company accumulates debt without generating sufficient free cash flows, it could negatively impact its financial condition.
There are potential liabilities that the company might face, and if these liabilities come to fruition, they could have adverse effects on its financial condition and profitability.
The company has taken an unsecured loan of Rs. 84.47 crores, which is repayable on demand.
The company relies on sub-contractors to carry out certain parts of its awarded contracts, exposing it to sub-contractor availability and performance risks.
The company also faces civil writ petitions in conjunction with Military Engineering Services.
Instances of delayed Goods and Service Tax (GST) returns and Provident Fund dues payments have been noted in the past.