THANE, India--(BUSINESS WIRE)--
Ducon Infratechnologies Limited (BSE: 534674, NSE: DUCON), an emerging technology company providing solutions in the Industrial, infrastructure & digital space to multiple business segments across varied industries provides an update on its business activities.
The Company indicated that in its Infrastructure business segment, it is diligently working with customers in securing projects in its legacy businesses of material handling systems and electrification systems and is seeing a normal amount of activity in its business. The Company also continues to submit new bids and revise previously submitted proposals for its Flue Gas Desulfurization (FGD) systems required for power plants and industrial boilers. The Company is hopeful that some of these bids will soon materialize in firm orders. However, the industry per se has not witnessed too many orders being placed and hence the build up with respect to orders in this segment continues to be poor.
In its digital & Information technology (IT) business segment the Company is selectively focusing on areas in online ecommerce in India and abroad. The Company’s IT business segment currently only deals with network & hardware solutions, marketing initiatives, distribution, volume procurement and end to end technical support. The proposed move to services and platforms in the IT business is expected to see the Company gain traction in this segment by the end of the next fiscal.
The Company remains cautiously optimistic that the current scenario in the FGD space should definitely see improvement and even an order or two can provide a huge fillip to the revenue and profitability.
Commenting on the occasion, Mr. Aron Govil, the Managing Director said, “We remain committed to building a Company that would bring technological expertise and experience in areas of industrial, infrastructure and digital space.”
He also added, “I am aware that the performance at the bourses in the recent past has not been particularly pleasant from a shareholder perspective but as a promoter holding over 70% of the Company’s outstanding shares, investors should realize that it is in my best interest to ensure that we create lasting value for the shareholders and I want everyone to know that we are putting our best efforts to make that happen.”
About Ducon Infratechnologies Limited
Ducon Infratechnologies Limited (BSE: 534674, NSE: DUCON) is an emerging technology company based in India for providing solutions in the Industrial, infrastructure & digital space to multiple business segments across varied industries. In the digital space, Ducon offers distribution services to its clients related to marketing initiatives, distribution, volume procurement and end to end technical support. On the infrastructure sector, it intends to offer complete solutions including execution of turnkey projects in rural electrification, environmental control & material handling areas across India and neighboring regions. The Company is led by a team of young and dynamic professionals with technical, marketing and sales know-how and has an objective to become a leading solution provider in the digital and infrastructure business sectors.
Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors. that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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