Our prudent capital allocation strategy remains focused on investments
in research and development, technological advancements, and strategic initiatives.
These efforts lay a robust foundation for sustained long-term grouuth
and reaffirm ^ our commitment to A delivering first-to- market products and
solutions.
Dear Shareholders,
This year has been marked by extraordinary events impacting a
significant portion of the global population. Global inflationary trends and geopolitical
conflicts are causing supply chain disruptions and driving volatility in commodity prices.
Despite these pressures and other global headwinds, macroeconomic indicators for the
Indian economy have been positive. India has experienced overall economic growth and an
upward trend in consumer spending, leading to steady urban demand for consumer durables.
Despite a varying business environment, we have delivered robust growth
with improved gross margins on the back of continued investments in our strategic drivers.
Our impressive growth this year in both our ECD and Lighting and Switchgear segments was
driven by an improved product mix and cost reduction initiatives. Our continued commitment
to customer- centricity, innovation, technology and adherence to sustainable business
practices form the cornerstone of our success. These efforts also reflect our pioneering
commitment to shaping the future of our industry.
I am happy to share with you the commencement of our new greenfield
manufacturing plant in Hyderabad, which adheres to Industry 4.0 standards. This
state-of-the-art facility for TPW and ceiling fans will enhance our capability to deliver
top-quality products and enable us to better serve the market, especially in southern
India.
We have been awarded the Great Place to Work (GPTW) certification for
the fifth consecutive year, underscoring our dedication to fostering a positive and
inclusive workplace culture.
Talent diversification continues to be a cornerstone of our growth
strategy, allowing us to harness diverse expertise and drive innovation.
As we look ahead, we are dedicated to building a future-ready
organization.
Our prudent capital allocation strategy remains focused on investments
in research and development, technological advancements, and strategic
initiatives. These efforts lay a robust foundation for sustained long-term growth and
reaffirm our commitment to delivering first-to- market products and solutions. At Orient
Electric, caring for our consumers is ingrained in our philosophy, and we persistently
strive to empower them with solutions that cater to their evolving needs and enhance their
daily lives.
I extend my gratitude to our dedicated team, partners, customers and
shareholders for the unwavering support and trust in Orient Electric. Your confidence and
partnership fuel our progress, and we remain committed to delivering both value and
growth.
| Regards, |
| CK Birla Chairman |