The beginning is always the hardest......

Amit Bhatnagar Diamond Power Infrastructure MD

2014-15 was among the most testing years since our inception. Having seen our fair share of downturns, we are certain of one thing – times change. However, we continued to do what we do best – make the change instead of waiting for it. But in doing so, the adversities were much higher than anticipated. The Indian economy, which had a long road to recovery, started moving, but lacked momentum. Being at the middle of investment cycle, our high leveraging coupled with lack of new orders and longer receivables cycle, led an adverse impact on our fiduciary condition.  Having built an integrated business model, comprising of scale, diverse products and flexible production capability, we were to a large extent able to fend off major repercussions emanating from economic and business slow down. We also used the downturn yet again to strengthen our processes, systems and businesses. We are confident that the impact of the same will be more visible with the impending upturn in the economy in the coming months.

We have always believed that the night is darkest when the dawn breaks. The year was full of landmarks and milestones for the country as well as the economy. Never before in the history of democratic India, did we witness the rise of a leader such as our Hon. Prime Minister, Shri Narendrabhai Modi. Having taken over the reigns of a fledging economy, Shri Modi has been persistent to try new initiatives, garner public awareness and push his vision for sustained development across the country and relevant international platforms. However, the beginnings are always the hardest. The year 2014-15 was also a year of new beginning for us at Diamond Power. Ever since the company’s inception, Shri S N Bhatnagar, founder and Mentor, has been the driving force of the Diamond Power Infrastructure . In his leadership that spanned more than four and a half decade, the company has evolved from a small entity to a globally renowned integrated power solutions player. He has not only served the company with great resolve, but more importantly has helped create a superior team which has largely remained intact as well as shared his vision for growth and sustained excellence. Owing to his age, Shri Amit Bhatnagar has vacated the Chairman’s position and will now guide us through his advisory position on the company’s Board. I am well aware that his shoes are too large to be filled by me, but being with the company since past twenty five years makes me confident to further drive his vision to greater glory.