March 31, 2018
MD's Message

Looking forward, looking back....

As the current financial year comes to an end, we take this opportunity to express our gratitude.

This has been a positive, eventful year for the industry and a year of continued high growth for us. We could deliver superior customer experience and achieve our goals.

I would like to share some of the highlights with you and provide a glimpse into our future.

Looking back:

In a VUCA world, growth is as easy and as difficult. There are new opportunities and challenges at every turn. Availability of LM Guides and Ballscrews were a major challenge this year. Our modular product design and flexible manufacturing helped us to minimise our delivery schedule dislocations. However, despite our best efforts, we couldn’t meet every schedule demand and we thank our customers for their understanding. For the upcoming year, we have taken several pro-active actions to protect our commitments.

To cater to the growing demand, we are building a new manufacturing facility in Hosur, which will get operational from May. This facility will double our manufacturing capacity.

On the product front, Genex VMCs and Orion HMCs Machining Centers, Orbitur and Neo Turning products were very well received by the industry. Feedback from our customers helped us introduce Novell-H, Novell-V and completed our Prima range of HMCs.

In the course of the year, enhancement of our new service offering ‘IRIS’ continued and projects are running as expected with select customers. As you are aware, IRIS is our IoT-based offering for Smart Manufacturing.

Support and response to all these initiatives have been heartwarming. We are ready to deliver more.

Looking forward:

FY 2018-19 is going to be all about offering more and serving better. Our customers are at the centre of everything we do and we will work tirelessly towards ensuring that we meet their expectations in a fair and responsible way.

We are truly committed to reaching out to our customers across the country. We have set ourselves a target of expanding our presence from 27 locations to 52 locations. We will also be adding Ludhiana, Coimbatore, and Aurangabad to our network of Tech Centres. The Tech Centres will operate as application support, product demonstration, and knowledge sharing hubs. In keeping with our efforts to reach out to our customers on time, we are also ramping up the size of our Service team by over 50%.

Over the course of the current year, there have been powerful breakthroughs in the efforts of our team in Dr. Kalam Centre of Innovation, our R&D set up. In the near future, some of the benefits of our research through our products will be revealed.

Several of Govt initiatives – BS6, Vehicle Life Policy, stabilised GST, thrust on infrastructure, etc. will continue to drive the growth of manufacturing. Share the manufacturing challenges with us and we will work to deliver appropriate solutions.

Wishing us all a successful FY 2018-19.

Warm Regards,

Ravi Raghavan - MD & CEO

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