SHRI MATRE POWER & INFRASTRUCTURE LIMITED,
(Formerly  Shri Shakti LPG Limited)

Shri Shakti LPG Ltd (SSLPG) was an integrated LPG Company with its own dedicated port facilities, bulk storage terminals, network of bottling plants and distribution outlets and also manufacture of LPG conversion kits for 2-wheelers, 3-wheelers & Gensets.

SSLPG’s brand Shakti Gas in a short time established itself as the private sector market leader despite stiff competition both from Government Oil Companies and various MNCs.  However SSLPG incurred huge losses thereafter as the entire private sector LPG industry ran into rough weather.  It is due to the fact that the Government did not honor its commitments for phased withdrawal of subsidy on LPG over a period of three years and in the meantime reserving the commercial market to the private sector.

As the future prospects in LPG continue to be not so encouraging, It is decided to diversify into power generation and solar power to begin with in view of the tremendous potential therein.   This would be followed up with a foray into the infrastructure arena. To enable the company to do the same, the Main Objects and Other Objects of the Memorandum of Association of the Company have been changed along with the change of name to Shri Matre Power & Infrastructure Ltd (SMPIL) after duly obtaining the shareholders approval through the postal ballot process and securing the requisite statutory approvals.   SMPIL is staging a turnaround having settled all its loan liabilities which at one time stood at Rs 115 crores through One Time Settlements. SMPIL which has thus become a virtually debt free company also substantially brought down its accumulated losses.

The Government of India has recently announced Jawaharlal Nehru National Solar Mission (JNNSM) for promoting solar power projects in various parts of the country. The above opens very good opportunity for diversification into solar power generation wherein the raw material is the solar radiation and there is one single customer viz., the Government who would be buying the entire production at a price which permits a healthy ROI and assured profitability. However there are two critical requirements viz., accessing the technical expertise and acquiring land with highest amount of solar radiation along with water availability. SMPIL has ready access to the technical know-how and also acquired 146 acres of land near Pokhran in Rajasthan where solar radiation is amongst the highest in the country.

Thus SMPIL is fully geared to implement quickly the above diversification plans while continuing its presence in LPG.  SMPIL which has already become a debt free company is now relentlessly pursuing its objective of being a profitable company at the earliest.

SMPIL’s objective is to totally revive the company and put it on a firm profitable track.  SMPIL has come a considerable way in reaching the present stage from the earlier stage wherein its accumulated losses as well as loan liabilities both were far in excess of Rs 100 crores each.  From such losses and liabilities, SMPIL has now reached a stage wherein it is a virtually debt free company and with the measure viz., proposed reduction of share capital, it would become a company with nil losses. Further SMPIL’s share is now trading on the Bombay Stock Exchange wef 29th June, 10.  SMPIL would like to confirm that no stone shall be left unturned and no effort will be spared to take the company forward and profitable.