Dilip Buildcon Ltd

Dilip Buildcon Limited was incorporated as Dilip Buildcon Private Limited on June 12, 2006 as a Private Limited Company with the Registrar of Companies, Gwalior. Subsequently, the business of M/s Dilip Builders, a sole proprietorship concern was taken over by the Company as a going concern with effect from April 1, 2007. The Company then, was converted into a Public Limited Company and a fresh Certificate of Incorporation was issued by the ROC on August 26, 2010.Dilip Buildcon is a large road construction company with capabilities in roads, bridges, mining excavation, dams, canals, metro rail viaducts, airports, industrial, commercial, and residential buildings, with a presence in 19 states and 1 union territory in India. As a result of the natural growth of road construction business and rising opportunities in new business areas, it has expanded into irrigation, mining excavation, airports and metro rail viaduct businesses. The Company is presently in the business of development of of infrastructure facilities on Engineering Procurement and Construction basis (EPC) and undertakes contract from various Government and other parties and Special Purpose Vehicles (SPVs) promoted by the Company. Its business comprises of construction business, under which DBL undertake road, irrigation, airport, metro rail viaduct and mining excavation projects on an EPC basis and infrastructure maintenance and operations business, under which DBL undertake maintenance and operation of BOT road projects on a BOT basis with a focus on annuity projects. Apart from this, it develops infrastructure across the country in many diverse areas such as roads bridges, metros, dams, canals, mining, water sanitation sewage, irrigation, industrial, commercial residential buildings.The company completed some of the most complex challenging highway development projects in the country. The company has also won numerous awards recognition for the projects. The company believes in working at highest levels of efficiency have a created a world record in crushing the most tonnes of stone in a year for which the company was gifted a stone crusher by Metso, the market leader in making stone crushing equipment.Dilip Suryavanshi, a young civil engineer started the DBL as a proprietorship firm in Bhopal with focus on real estate construction in 1987. In the initial years of its operation the company focused on commercial residential buildings, creating many marquee projects in Madhya Pradesh. As business grew in the early 90s the company forayed into other types of construction as well. The first move was into water sanitation sewage. After that the company also did structural designing construction for clients in the oil gas industry. At the end of the 1990s when the new central government put forward a vision of connecting the country with roads, DBL saw it as a huge opportunity dived headfirst into it. After facing stiff resistance on multiple fronts by the established players stakeholders, DBL finally got a start in the sector with a small road project. After that DBL never looked back within a short period of six years became the largest roadfocused construction firm in Madhya Pradesh. All this was possible because of the companys policy of continuous innovation relentless pursuit of excellence. Then the company set its sight on becoming the largest roadfocused EPC player in the country started pursuing bigger projects across the country. In the meantime to fuel the nations growth, the government came up with the PPP model for roads, inviting attention from other industries into the sector. These players were interested in owning running these road BOT assets but had no expertise or infrastructure in building it. DBL saw itself positioned perfectly to provide EPC services to such players and worked tirelessly to improve its EPC capabilities invested heavily in procuring the best road building equipment from around the world. This strategy paid off DBL were able to go beyond the exacting demands of developers such as Essel, JMC projects, Sadbhav, Ashoka, Valecha, PNC, Topworth many more, all of who have given the company repeat orders. During the Financial Year 201617, Dilip Buildcon entered into the Securities Market through Initial Public Offering (IPO). The Public Issue comprised of Fresh Issue of 19,634,703 Equity shares of Rs. 10/ each at a premium of Rs.209/ per share aggregating to Rs. 43,000.00 Lakhs and an Offer for sale by promoters Mr. Dilip Suryavanshi and Mr. Devendra Jain of 1,136,364 equity shares each and also Offer for sale by the PE Investor BanyanTree Growth Capital LLC of 7,954,545 equity shares. Equity shares of the Company are listed at BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) and are regularly traded on both the exchanges with effect from August 11, 2016.On 30 January 2017, Dilip Buildcon informed the stock exchanges that the Ministry of Road Transport Highways, Government of India has recalled the project Rehabilitation and upgradation of Machilipatnam to Avanigadda section from Km 84/550 to Km 124/200 of NH214A (New NH216) to two lane with paved shoulder in the state of Andhra Pradesh under NHDP IV through an Engineering, Procurement and Construction (the EPC) basis where the company had been declared as the successful bidder (L1) for the project. The Ministry of Road Transport Highways, Government of India has recalled the project because L1 Bid price is higher than the departmental estimate i.e. 222.90 crore.On 7 February 2O17, Dilip Buildcon informed the stock exchanges that the Company has tied up with the Global IT major IBM for Strategic Transformational journey to address the business needs. IBM will do the process Standardization, Operational Excellence ERPSAP S4 HANA on Cloud, Implementation to leverage rolebased access to critical data, applications, analytical tools, effectively manage utilize the largest fleet more than 8,000 Vehicles and Machineries. It will streamline DBLs processes across procurement, projects, asset management, finance, and HR, improve stake holder collaborations. This will help to provide the core support service to drive business value, adoption, alignment of business and IT, strong and sustainable growth by having the all business data dashboard available online.On 30 March 2017, Dilip Buildcon informed the stock exchanges that it has received Letter of Award from the National Highways Authority of India (Ministry of Road Transport Highways, Government of India) for three projects valued at Rs 3269 crore in the state of Maharashtra. On 24 August 2017, Dilip Buildcon Limited (DBL) informed the stock exchanges that the company has signed a Term Sheet with Chhatwal Group Trust (the Investor) in respect of divestment of its entire stake in 24 of its Subsidiary Companies (SPVs)On 5 January 2018, Dilip Buildcon Limited (DBL) informed the stock exchanges that a new company has been incorporated named as DBLVPR Mining Private Limited for exploring sector of Mining Activities including but not limited to coal mining. The said company has been incorporated as a subsidiary of Dilip Buildcon Limited. The said company is jointly promoted by Dilip Buildcon Limited and M/s VPR Mining Infrastructure Private Limited, with equity participation of 74% and 26% respectively, in the Equity Share capital of the said company. The new company is formed following discussions between Dilip Buildcon Limited and M/s VPR Mining Infrastructure Private Limited who together have recognized the major synergies that both companies may offer each other in the field of various projects within the Mining Industry. On 1 March 2018, Dilip Buildcon informed stock exchanges that it has received Letter of Awards by the National Highways Authority of India for two new Hybrid Annuity Projects valued at Rs 4473 crore in the state of Karnataka. On the same day, the company announced that it has declared L1 bidder by the National Highways Authority of India for three new Hybrid Annuity Projects valued at Rs 5390 crore in the State of Karnataka and Jharkhand.On 16 March 2018, Dilip Buildcon informed stock exchanges that it has been declared L1 bidder by the National Highways Authority of India for a new Hybrid Annuity Project valued at Rs 1004 crore in the state of Madhya Pradesh. On 26 March 2018, Dilip Buildcon informed stock exchanges that it has been declared L1 bidder for new 4 Hybrid Annuity Projects valued at Rs 4114.5 crore by the National Highways Authority of India in the state of Karnataka and Maharashtra.On 28 March 2018, Dilip Buildcon informed stock exchanges that it has received Letter of Award by the National Highways Authority of India for new 3 Hybrid Annuity Projects valued at Rs 3272.80 crore in the state of Maharashtra. On 29 March 2018, Dilip Buildcon informed stock exchanges that it has received Letter of Award by the National Highways Authority of India for a new Hybrid Annuity Project valued at Rs. 1004 crore in the state of Madhya Pradesh.On 13 April 2018, Dilip Buildcon informed stock exchanges that it has incorporated 5 new special purpose vehicles companies for 5 projects awarded by the National Highways Authority of India valued at Rs 6306.9 crore. On 21 April 2018, Dilip Buildcon informed stock exchanges that it has incorporated 3 new special purpose vehicles companies for 3 hybrid annuity projects awarded by the National Highways Authority of India valued at Rs 2948.1 crore.Clarifying to rumors in the market relating to the resignation of statutory auditors of the company, Dilip Buildcon informed stock exchanges on 30 May 2018 that there is no truth in the matter and the rumors are baseless. The company has already declared Audited Financial Results for the Financial Year 201718 on May 30, 2018 and M/s Mukund M. Chitale Co., Chartered Accountants, Mumbai and M/s MSG Associates, Chartered Accountant, Bhopal, Joint Statutory Auditors of the Company have issued the Auditors Report for the Financial year ended March 31, 2018 with unqualified opinion in respect of the Standalone and Consolidated Financial Results, the copies of which has already been submitted to the Stock Exchanges.On 12 July 2018, Dilip Buildcon informed the stock exchanges that it has incorporated a new Special Purpose Vehicle (SPV) for Bellary to Byrapura section of NH150A on Hybrid Annuity Project under Bharatmala Pariyojana valued at Rs 1313.90 crore by the National Highways Authority of India in the state of Karnataka.On 12 September 2018, Dilip Buildcon informed the stock exchanges that its consortium with VPR Mining Infrastructure Private Limited has been awarded the contract of Mine Developer cum Operator (MDO) for the Development and Operation of Pachhwara Central Coal Block located at Rajmahal Coalfield, District Pakur, Jharkhand by Punjab State Power Corporation Limited (PSPCL). As per the terms of contract DBL Pachhwara Coal Mines Private Limited (a Special Purpose Vehicle SPV) was incorporated by DBL having shareholding of 74% and VPR having shareholding of 26% for execution of the project. The project is valued at Rs 32156.04 crore (excluding taxes).The Board Meeting of Dilip Buildcon at its meeting held on 28 September 2018 considered and approved to take the strategic initiatives by way of backward and forward integration which will add value addition to the company as well as to the stakeholders. The Board also considered and approved the alteration in the main object clause of Memorandum of Association of the company to start new business activity.On 10 October 2018, Dilip Buildcon informed the stock exchanges that it has been declared L1 bidder for a new OB Removal Contract Mining Project valued at Rs 1000.40 crore (including Taxes) by the Mahanadi Coalfield Limited (MCL), a subsidiary of Coal India Limited (CIL), Samleshwari OCP, Jharsuguda District in the State of Odisha.On 2 November 2018, Dilip Buildcon informed the stock exchanges that it has executed the Contract Agreement with Madhya Pradesh Metro Rail Co. Limited, Urban Administration and Development Department, Bhopal (M.P) for Bhopal and Indore metro rail projects PhaseI, valued at Rs 247.06 crore and Rs 228.96 crore respectively. Clarifying to media reports that Dilip Buildcon has been fined Rs 33.78 crore for excavation work in Maharashtra, the company said in a statement on 7 December 2018 that it has not received any such demand notice from the office of Tahsildar Majalgaon. Based on such media report, the company has approached to the office of Tahsildar Majalgaon and informed vide its letter dated 5 December 2018 the very fact that the company has already deposited Rs 60 lakh on 26 December 2017 as an advance Royalty amount on the basis of selfmeasurement, however this has not been taken into account by the office of Tahsildar Majalgoan before issuance of such demand notice as reported by the media. Furthermore, the aforesaid facts has taken into cognizance and is appreciated by the office of the Tehsildar, Majalgaon who in turn has requested vide their letter dated 6 December 2018 to the office of Additional Collector to withdraw the notice and penalty imposed thereof inadvertently.On 7 December 2018, Dilip Buildcon announced that it has received Letter of Acceptance (LOA) for a new OB Removal Contract Mining Project valued at Rs. 1000.36 crore (including Taxes) by the Mahanadi Coalfield Limited (MCL), a subsidiary of Coal India Limited (CIL), Samleshwari OCP, Jharsuguda District in the State of Odisha.In FY19, the Company entered into Tunnels Metro Segment. In the financial year 201819, it won several marquee projects which includes the metro projects of Bhopal and Indore worth Rs. 2,206 million and Rs. 2,044 million respectively as well as Mine Developer and Operator (MDO) contracts worth Rs 320 billion in the Mining segment. In the financial year 201920, it had completed 14 projects worth of Rs. 1,05,445 million. These projects had been completed across eight states in the road and the mining sectors. The projects completed in the road sector and mining sector is worth Rs.78,973 million and Rs 26,472 million respectively. Out of the 14 completed projects, 12 were road projects and 2 were of mining. Out of the 12 road projects, six projects worth of Rs. 51,992 million were completed before the scheduled time, entitling an early completion bonus of Rs. 1,282 million and remaining six road projects were completed on scheduled time.During the financial year 201920, DBL further divested 5 under construction BOT projects undertaken on hybrid annuity basis by entering share purchase and shareholders agreement with Cube Highways and Infrastructure III Pte Limited (Cube).In FY20, the Company won numerous new projects in various states and industries, valued at a total of Rs. 67,250 million. It completed 14 projects worth Rs. 1,05,445 mn, which is highest completion in a single year.In FY21, the Company completed four NHAI projects and won 15 new projects worth Rs. 2,19,581 million from NHAI, RVNL, NWRWS and Mahanadi Coalfields Limited and ventured into three territories, Bihar, Uttarakhand and Puducherry. In FY21, the Company installed regulatory and warning signs, direction and place identification signs, road studs and crash barriers in Madhya Pradesh, Maharashtra, Andhra Pradesh, Uttar Pradesh, Telangana and Karnataka. It also installed end connector, object hazard items, trafficahead items, doublemoulded shank and pipe post for road safety of general public in Karnataka. Apart from this, it renovated and maintained areas around the Bhadbhada Dam in Madhya Pradesh.During FY 202122, the Company completed SangliSolapur (Package II: Borgaon Watambare) HAM in Maharashtra DagamagpurLalganj (Pkg2) EPC in Uttar Pradesh Gorhar to Khairatunda in Jharkhand AnandapuramPendurthiAnakapalli HAM in Andhra Pradesh SangliSolaopur (PackageIV) HAM in Maharashtra Mangloor to Telangana/ Maharastra Border HAM in Telangana LalganjHanumanha (Pkg3) EPC in Uttar Pradesh SaonerDhapewadaKalmeswarGondkhairi EPC in Maharashtra Jayant OCP (OB Removal Project) EPC in Madhya Pradesh Bellary to Byrapura HAM in Karnataka Zuari Bridge (Package I and Package III) EPC in Goa.In 202223, the Company completed 8 projects consisting of Sangli Solapur (Package I: Sangli to Borgaon) in Maharashtra Chandikhole Bhadrak in Odisha Varanasi to Dagampur Pkg 1 in Uttar Pradesh Churhat Bypass of Rewa Sidhi in Madhya Pradesh Bundelkhand Expressway (Package VI) in Uttar Pradesh Nagpur Mumbai Super Communication Expressway (Pkg 12) in Maharashtra Nidagatta Mysore in Karnataka and Bangalore Nidagatta in Karnataka.