The Company's business aligns closely with the megatrend of
Automation, driven by Digitalization and Sustainability.
Dr. Ganesh Natarajan
Independent Director and Chairman (Non-Executive) - Board
Dear Shareholders,
I am delighted to present the 41st Annual Report of the
Company for the Financial Year 2024-25.
The financial year 2024-25 reflected a balancing act between growth
aspirations and persistent challenges for India, where the emphasis was on resilient and
sustainable growth amidst ongoing global uncertainties and domestic adjustments.
India's GDP growth is estimated to have moderated in the Financial Year 2024-25, with
an estimated rate of 6.4%. Projection for FY 2025-26 indicate a GDP growth of 6.4%.
(Sources: S&P Global & Press Information Bureau). Indian government is believed to
continue to prioritize capital expenditure, particularly in infrastructure projects,
energy security, and urban development, while reducing subsidies to accommodate increased
spending.
The Company's business aligns closely with the megatrends of Automation,
driven by Digitalization and Sustainability. The Company is committed to being at
the forefront of India's transformation towards a sustainable future, evidenced by
Honeywell's goal of achieving carbon neutrality across all its facilities and
operations by 2035. Digital transformation remains a central focus in the strategic
priorities of the Company, where the Company leverages its expertise in process control,
cybersecurity, and managing performance to optimize operations, enhance remote visibility,
and drive safety, reliability, and efficiency.
The Company has Honeywell Accelerator as its operating system for
governing and managing our business – which contains all the best practices, tools,
and digital platforms to deliver best-in-class performance and enhances the way we manage,
govern, and operate our business day-to-day.
The Company's CSR initiatives, environmental efforts, and
commitment to ethical corporate governance are integral to fulfilling its environmental,
social, and governance (ESG) responsibilities. The Company has made significant
contributions across healthcare, education, rural infrastructure, and community
development, striving to enhance the lives of people, families, and communities we serve.
Through its state-of-the-art facilities, leading technologies, and
skilled personnel, the Company constantly delivers superior products, projects, and
services that meet quality standards and exceed customer expectations.
On behalf of the Management and Board of Directors of Honeywell
Automation India Limited, I extend our heartfelt gratitude for your trust and confidence
in the Company's ongoingjourneyandgrowth.Welookforwardtoyourcontinued support as we
propel the Company toward future success. The Company and its #Futureshapers remain
committed to providing greater value to our customers, delivering strong financial results
to our investors and ultimately making a positive impact in our communities.