Date: 18thMay, 2019

To,

The Manager (Listing), The Manager (Listing),The BSELtd. National Stock Exchange of India Ltd.Mumbai Mumbai

.Company's Scrip Code: 505700 Company's Scrip Code: ELECON

Sub Notice to the Shareholders for transfer of Equity Shares to Investor Education andProtection Fund (IEPF)Authority

Ref Intimation under Regulation 47 of SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015

Dear Sir/Madam,

With reference to the subject referred regulations, we would like to inform you that a Notice tothe Shareholders of the Company pertaining to transfer of its Equity Shares to Demat Accountof the Investor Education and Protection Fund (IEPF) Authority has been published in TheBusiness Standard Newspaper (English) & Jay Hind Newspaper (Gujarati) on 17thMay, 2019.

A copy of the said newspaper advertisements are enclosed for your reference & records.

Thanking you,

Yours faithfully,For Elecon Engineering Company Limited

Encl:As above

~Bharti IsaraniCompany Secretary & Compliance Officer

Cranes Rubber Industry Marine Industry Plastic Industry Power Industry Steel Industry Sugar Industry

Gearing industries. Gearing economies.

Mining Cement Industry

ELECON ENGINEERING COMPANY LIMITED, Post Box # 6, Vallabh Vidyanagar - 388120, Gujarat, India. Tel.: +91 - 2692 - 238701, 238702. Fax: +91 - 2692 - 227484.

CIN L29100GJ1960PLC001082 I infogear@elecon.com I www.elecon.com,

AHMEDABAD | FRIDAY, 17 MAY 2019.

VIVEAT SUSAN PINTOMumbai, 16 May

Two of the country’s top food serv-ice operators — Jubilant Food-Works and Westlife Development

— reported their lowest same-store salesgrowth (SSG) in six quarters as generalconsumption slowdown hit the sectorduring the January-March period (Q4).

The two companies, which are list-ed on the stock exchanges and runDomino’s and McDonald’s stores,respectively, reported SSG in the 5-6per cent region in Q4, down from 14-25per cent seen in the past five quarters.SSG is sales growth of stores one yearand above and is a crucial metrictracked by analysts, since it gives aclearer picture of top line growth on alike-to-like basis.

While the two companies did pointto a high base in the year-ago period,sector experts said lower consumer sen-timent, faster roll-out of stores and com-petition from online food aggregatorssuch as Swiggy and Zomato was takinga toll on the business. “Jubilant opened30 Domino stores in Q4 while Westlife’scount was lower at seven restaurants inthe period under review. At a full-yearlevel (FY19), the two companies haveadded stores at a rapid pace, Jubilant at102 (for Domino’s) and Westlife at 25

restaurants for McDonald’s. This isbound to cannabalise sales at existingstores, though Westlife has been push-ing its presence into newer cities in thesouth,” said Abneesh Roy, senior vice-president, research, institutional equi-ties, Edelweiss.

Amit Jatia, vice-chairman, WestlifeDevelopment, said the company hadbeen launching stores in Kerala andAndhra Pradesh over the past few quar-ters and the exercise would continue infuture. “According to our vision 2022 doc-ument, we are looking at 400-500 restau-rants (by calendar year 2022), with same-store sales growth in themid-to-high-single-digit range. Against a

compounding base, it will be difficult tohave double-digit SSG every quarter.What we’ve achieved in Q4 is a reflectionof that,” he told Business Standard.

At a full-year level (FY19), SSG forWestlife and Jubilant FoodWorks camein at 17 per cent and 16.4 per cent, respec-tively, a result, said analysts, of the blis-tering pace of growth (in terms of sales)seen during the June, September andDecember quarters. Pratik Pota, chiefexecutive officer and whole-time direc-tor, Jubilant FoodWorks, said his com-pany would continue to keep excite-ment levels going for consumers, withinnovations and new launches to ensurethere were footfalls into stores.

In the March qFoodWorks launchedpizzas as part of its iPizza League” initiatitinue with such themthe future. Westlife, orelaunched its everyintroduced rice as an and had aggressive pthe quarter.

Despite competifood aggregators, botbeen pushing aggressin keeping with the oing trend in cities. Oncentage of delivery scent for Jubilant FWestlife’s sales from t(as a percentage of dover 50 per cent in Q

Both companiesnewer areas for gFoodWorks, for instathe Chinese fast caswith its own restaurKitchen in March. Wgrowing that Westlifeand east McDonald’settlement between tfood major and Vikrmer partner, last weefocused on the southfor now and that he wbusiness there.

QSRs feel slowdown pangs in

AASHISH ARYANNew Delhi, 16 May

The Committee of Creditors(CoC) of Essar Steel India onThursday told the NationalCompany Law Appellate Tribu-nal (NCLAT) that of the ~42,000-crore bid amount of Arcelor-Mittal, only ~39,500 crore wasmeant for distribution amongthe various creditors of the com-pany. The rest ~2,500 crore waskept as a minimum guarantee inthe form of working capital forfinancial creditors of the com-pany during the pendency ofthe corporate insolvency reso-lution process.

“It is a fact that in the Sup-reme Court (SC) offer was madefor ~42,000 crores. But in thefinal judgment, the SC only

referred to the previous offer of~35,000 crore. After a discus-sion, it was raised to ~39,500crore,” Senior Advocate GopalSubramanium, appearing forCoC, told the NCLAT. Of the~39,500 crore kept aside for dis-tribution among the variouscreditors, the financial creditorswill be given the lion’s share astheir claims are higher than theoperational creditors, Subra-manium told NCLAT. He, how-ever, rejected Standard Chart-ered Bank’s allegation thatOrissa Slurry Pipeline Infra-structure’s debts were also beingincluded in the resolution planfor Essar Steel.

An amount of ~2,500 crorewas kept aside in case the firmdid not make any profit duringthe insolvency resolution pro-

cess. Despite the amount keptaside, the total upfront pay-ment of ~42,000 crore will notbe cut, he told NCLAT. “Wewanted a guarantee that if it wasa minus at ~2,500 crore youmust commit. Ifthere is actual profit,shares will be givento lenders. Whateverexcess of ~2,500 croreis there, it will be giv-en back to the credi-tors,” Subramaniumsaid, adding that thecompany had a made a profit of~3,498 crore.

The submissions by CoCcomes after Standard Charteredhad moved the NCLAT allegingthat lenders had accepted~39,500 crore from Arcelor-Mittal instead of ~42,000 crore-

bid, as approved earlier. Stand-ard Chartered had alleged theCoC had clubbed the debt ofOdisha Slurry Pipeline withEssar Steel in the auction torecover unpaid loans, which

would in effectreduce the up-frontpayment to be madeby ArcelorMittal.

This in turn,Senior Advocate Ka-pil Sibal appearingfor Standard Charte-red had then told

NCLAT, would mean loweramount for the financial credi-tors who were not part of thecore of CoC. “They short-changed us to benefit them-selves. The plan proposed~42,000 crore plus working cap-ital and not ~35,000 crore plus

working capiaccepted by tthe NCLAT~2,500 crore, been paid toered, has blenders of Oline India, whry pipeline, S

Questionof the memballeged hadunauthorisewith Arcelorsuch privatemental to theholders of ECoC is empaccept or rejit negotiate creditors,” NCLAT will StanChart on

We have only ~39,500 cr for distributamong Essar creditors, CoC tells NCL

CoC says ~2,500 crkept as minimumguarantee forfinancialcreditors duringpendency ofresolution process

Q3 Q4 Q1 Q2 Q3 Q4FY18 FY18 FY19 FY19 FY19 FY19

Westlife is the south & west India franchisee of McDonald’s;Jubilant Foodworks is the franchisee of Domino’s and DunkinDonuts in IndiaSource: Company results

SAME-STORE SALES GROWTHIN THE PAST SIX QUARTERS�JubilantFoodWorks �Westlife Development (%)

17.8

020

.70 26.5

025

.10

25.9

024

.10

20.5

0 25.7

0

14.6

014

.50

6.00

5.60

Corporation Bank( A Premier Public Sector Bank)

3FRIDAY • 17-5-2019JAI HIND-AHMEDABAD

GST