Chairman's Message

Mr. P.K. Kunhalikutty

Chairman, Hon'ble Minister for Industries, Commerce, IT & AI

I am happy to address you as Chairman of INKEL Limited, following my appointment after the formation of the new Government.

Looking ahead, the Government of Kerala views INKEL as a key institution in advancing the State’s infrastructure and industrial development through the Public–Private Partnership (PPP) model. Recent policy measures and budget announcements reinforce this vision and create significant opportunities for the Company.

I encourage INKEL to build on its strengths and pursue opportunities in logistics, renewable energy, waste management, integrated industrial parks, and other strategic infrastructure sectors. With its technical expertise, execution capability, and institutional credibility, INKEL is well positioned to emerge as one of Kerala’s leading infrastructure development platforms.

I am also pleased to note that the Board has recommended a dividend of 5.5% for Financial Year 2025–26, marking the fourth consecutive year of dividend distribution. This reflects the Company’s commitment to delivering value to shareholders while investing in future growth.

With this strong foundation, I am confident that INKEL will further strengthen its position as a trusted partner in Kerala’s development. Guided by excellence, innovation, transparency, and long-term value creation, the Company is well placed for the journey ahead.

On behalf of the Board, I thank all shareholders for their continued confidence and support. I look forward to your partnership as INKEL enters its next phase of growth.

From the Desk of

Dr. K Ellangovan

Managing Director, INKEL Limited

INKEL Ltd, a PPP initiative by the Government of Kerala and various private investors for infrastructure development in the State has completed 15 years of operations. With the objective of scaling up its operations in infrastructure development in its onwards journey and to become an efficient and competent agency in PMC and EPC contracts segments by substantially as well as to diversify into new sectors, INKEL is in the process of developing an Operational Strategy.

The rapid urbanization in the state and other drivers such as increased demand for warehouses, other logistic facilities, public and industrial infrastructure, development of mega projects and initiatives focused at higher economic activity in the state, and the shift towards green & sustainable infrastructure are giving rise to a plethora of opportunities for INKEL. Through offering a wide spectrum of services such as Engineering Design, Project Management Consultancy, Renewable energy implementation, Asset Management, Green Construction and Sustainable Infrastructure Management, INKEL is envisaging a greater role in future, either directly or through collaboration.

Going forward, it is important for INKEL to have strong quality centric processes & effective knowledge management tools in service centric business lines. Further, establishing clear frameworks & standard operating procedures, developing systems for cost recognitions, cost controls and segment level profitability reporting, and technology assessment and revamping exercise are proposed as part of operational roadmap. Formation of appropriate, dedicated teams for driving the transformation efforts is also recommended. Key Performance Indicators (KPI) to measure the effectiveness in achieving the company’s business objectives are identified along four streams – Services Growth, Profitability & Cashflow, Efficiency and Organizational Focus which will be tracked and monitored through a dashboard system with appropriate access control to different levels in the organization.

INKEL with a renewed approach towards a larger role as a ‘total solution provider’ (TSP) for all infrastructural issues will focus on achieving excellence in designs, ESG focus and a diversified outlook to emerge as a strong facilitator for infrastructure development of Kerala.

Management