BRIEF HISTORY OF HINDUSTAN STEELWORKS CONSTRUCTION LIMITED (HSCL)
- Established in 1964 as a construction organisation under the Ministry of Steel
- Diversified into a versatile infrastructure portfolio all over the country
- Major player in implementation of integrated steel plants
- Pioneer of infrastructure projects in the North-Eastern Region including projects under Govt.'s Bharat Nirman Programme.
- An ISO 9001: 2008 company.
It is matter of immense pride and privilege to share with you the extraordinary journey of HSCL through the past three years, particularly the last year 2011-12; the year that was witness to the company's unwavering commitment to excellence resulting in one of the most impressive annual returns in HSCL's history with considerable improvement across all the performance parameters. The highlight of the year was undoubtedly the turnover figure of INR 1200 Crore, a remarkable achievement given the adverse market realities and on-ground challenges. The market share also had been remarkable with orders worth INR 1900 Crore secured during the year. The rich Order Book of more than INR 4000 Crore, provides a strong base for achieving higher growth in future. The growth rates of all the major performance parameters during the last six years since 2005-06 had been much more than the overall industry growth rate of the country. Turnover and Order Booking grew at CAGR 23% and 28% respectively. Operational profit clocked growth at CAGR 16% whereas earning per employee had grown at an imposing rate of CAGR 51%. With cash balance rising at CAGR 21% to Rs.326 Crore as on 31.3.2012, HSCL stands on a firm financial footing to take up high value projects needing considerable investments.
BUILDING CREDENTIALS. BUILDING A NATION
With a vision of emerging as one of India's premier construction companies, HSCL renewed its commitment to contribute to the infrastructure development in remote areas of the country under the Govt.'s Bharat Nirman Programme. The company has taken up the construction of new rural roads and up gradation of existing links in the North Eastern State of Tripura and extremists affected districts of Jharkhand. The company expects to be nominated as a PIU for the implementation of rural road projects under PGMSY in other parts of the country as well. With the pilgrimage centre at Solopok and cultural centre at Yangang in Sikkim successfully completed, HSCL has been entrusted with implementation of hospitals and auditoriums in the state of Mizoram.
HSCL is one of the three PSUs identified by the Ministry of External Affairs to carry out the construction and repair of 50,000 low-cost houses in Sri Lanka as a part of the commitment of Govt. of India for resettlement of Internally Displaced Persons (lDPs) and the Plantation Community of Sri Lanka, a country recovering from a long and devastating war spanning decades. Scheduled for initiation soon, the project is likely to usher in a new era of overseas presence for the company. Recently signed MOU with the Togolese Republic for implementation of Housing projects bears the testament of faith imposed on HSCL by the countries overseas also.
GETTING TOGETHER FOR GREATER VALUE
HSCL has signed MOU with EdCIL for implementing education infrastructure in the country. An MOU has also been signed with TPE, Russia for taking up integrated steel plants, which the Company has expertise in. The Company has tied up with Cimprogetti, an Italian based Company, which deals with the design and supply of equipment and plants for the lime industry. The MOU between HSCL and Institute for Steel Development & Growth (INSDAG) has put the company on track to effectively pursue implementation of steel intensive projects in India, a policy of the Govt. to promote usage of steel in the country. The INSDAG Building in Kolkata and Textile Marketing Complex in Delhi are two such steel intensive projects under execution by HSCL. The Company has also tied up with Zarubezhugol a Russian Company for cooperation in implementation of coal washery projects in India. This tie up with Zarubezhugol will also put HSCL in the running for taking coal blocks on lease for extraction and trading in coal.
A TESTAMENT OF BEST PRACTICES
With growth comes responsibility. As a responsible public sector organisation, HSCL pledges to comply with the framework of transparent Corporate Governance. The performance rating in respect of compliance to the DPE guidelines on Corporate Governance is 100, a true indicator of equitable Corporate Governance. It also adopted the Risk Management Policy that covers various aspects and lists the steps to be taken by the company to mitigate risks. A well conceived Environment Policy and Sports Policy in line with that of Ministry of Steel have been adopted by the Board of Directors.
Ensuring transparency in company's business operations, a well constituted Audit Committee has been made functional. This has been supplemented with applicable accounting standards in the preparation of annual accounts. To cap it all, the "NIL" comments from CAG bears the testament of transparent business ethics of the organization.