WE ARE CHARTING A PATH TOWARDS A BRIGHTER HORIZON FOR OUR CUSTOMER, MINDFUL OF THE
IMPACT WE CREATE. WHEN WE ACHIEVE OUR GOALS, WE WILL HAVE POSITIONED OURSELVES AS A
PREFERRED PARTNER TO ALL OUR STAKEHOLDERS
DEAR SHAREHOLDERS,
I AM pleased to report another year of satisfactory performance. As we reflect on FY24,
we acknowledge the impact of the intensifying geopolitical stress and the resultant
economic upheaval on our customers and user sectors. During the year under review, we
deftly maneuvered through these headwinds. Our progress in a year of global volatility is
a testament to the team's hard work, resilience, and unwavering commitment to move
forward. Beyond the visible achievements, FY24 was an important milestone as we embarked
on a multi-year journey of strengthening our core, a critical initiative that will go a
long way towards sustaining profitable growth over the long term.
The core of our business is our customers. In our business, which is primarily capital
equipment manufacturing, our transaction initiates the relationship with our customer,
which in most cases extends for decades. For us, Strengthening the Core means solidifying
our ethos of customer- centricity. The blueprint of our journey will focus on three
aspects: 1) Strengthening our focus on the customer landscape,
2) Strengthening our commitment to our values, and 3) Strengthening our commitment to
deliver.
Strengthening our focus on the customer landscape
Our customers' world is evolving swiftly owing to the rapidly changing trends,
intensifying geopolitical stresses, and growing fragilities prevailing worldwide. Under
the circumstances, we recognise that our primary responsibility is to provide compelling
solutions that allow our customers to operate with ease and grow their businesses
sustainably. We are taking a new approach.
We will deliberately endeavour to reposition ourselves as a comprehensive solution
provider to address our customers' evolving changes in products and processes. This is an
ambitious goal because it will require us to integrate all our business functions as a
cohesive force to envision the changing ecosystem and ideate and develop sustainable
solutions.
Strengthening our commitment to our values
For graduating into a lifecycle solution provider to our customers, we will need to
sharpen our commitment to our values appreciably.
We will need to up our excellence quotient across the value chain- in ideating and
designing our products, manufacturing our products, servicing our customers and conducting
our business and customer relations with integrity. In a nutshell, we will need to raise
our excellence ranking on the customer experience chart a few notches.
To make this a reality, we will need to, individually and collectively, unlearn legacy
practices, relearn and institutionalise contemporary processes, and infuse digital
solutions in every aspect of our business to upgrade us into a smart enterprise that is
alive, alert and agile to the ever-evolving sectoral and customer ecosystem.
Strengthening our commitment to deliver on our values
This would be the ultimate test of everything we aim for. We need to make it happen for
our customers, stand up and deliver, and make every customer feel special by embedding the
culture of continuous excellence, learning and integrity into everything we do at LMW.
I am happy to state that we have taken some definitive steps in our journey, which has
been appreciated by our customers. This encourages us to move forward towards creating an
exceptional experience for them.
In closing
The change which we have visualised is genuinely invigorating.
It is our opportunity to learn, grow, and push the boundaries of what's possible. While
there will be challenges and moments of uncertainty, we will approach them with a spirit
of curiosity and a relentless drive to succeed.
We are charting a path towards a brighter horizon for customers, ourselves, our
Company, and the impact we create. When we achieve our goals, we will have positioned
ourselves as preferred partners to our customers in all our businesses. By making their
businesses successful, we will make our business growth sustainable.
Acknowledgment
As we move forward in our aspirations positively, I would like to gratefully
acknowledge the unwavering support of our customers and the dedication of our employees,
both of which have been instrumental in the steady progress the Company has made thus far
and would like to assure you of our continuing endeavours in reaching new heights together
on our journey year after year.
I THANK THE BOARD MEMBERS FOR THEIR CONTINUED SUPPORT AND GUIDANCE, OUR SHAREHOLDERS FOR THEIR CONTINUED FAITH AND ALL OUR STAKEHOLDERS, NAMELY CUSTOMERS, VENDORS,
GOVERNMENT AUTHORITIES AND THE LOCAL COMMUNITY FOR 1 THEIR CONTINUED SUPPORT.
Regards,
Sanjay Jayavarthanavelu
CHAIRMAN & MANAGING DIRECTOR