Dear Stakeholders,
Over the past four decades, we have traversed several journeys in our
path to innovation and excellence. When we began this journey, the path forward was far
from clear. The landscape of our industry was rife with challenges, as we faced intense
competition amid adverse market conditions. There were internal challenges too. However,
one thing was clear. We were ready to embrace change as a constant and would continue to
innovate, adapt, and grow together as a team. And over the course of the last four
decades, we did exactly that. Our never-ending thrust for continual improvement has become
our hallmark.
While our core philosophy of continuous improvement and hard work has
brought us to where we are today, we are aware of the ever-evolving business landscape
that requires us to rapidly adapt – something we have always been adept at.
Technological advancements are breaking down barriers. Artificial intelligence is
challenging human intelligence. Customer aspirations are rising. Embracing sustainability
is becoming essential for survival. Hence, decision-making must now be both fast and
smart. This requires a novel way of working which is what we have termed "Build
Smart".
To me, ‘being smart' means being able to think on one's
feet and demonstrate the ability to approach complex problems with creativity and speed.
Our philosophy of "Build Smart", however, goes one step further - where the
culture of innovation and continual improvement is driven by a clear focus on customer
centricity and overall sustainable value creation, where the products have a high
sustainability footprint, where customers are supported in making the right choices, where
advanced IT tools and systems play a key role in decision making and where the entire work
culture is geared to make smart choices and contribute to the nation's growth.
We have always believed that we can stay in the game if we keep our
costs in check and keep trying novel solutions to build unique competence, which give us a
sustainable and competitive edge. Our drive to greening our energy supply sources has
helped us rationalise our costs as well has helped us to score an industry-leading mark of
56% green share in overall electricity consumption. When we were mandated to replace usage
of coal in our grinding units in the NCR area, the obvious choice was to opt for using
natural gas. Our team brainstormed and found agro-waste as an option. Naturally, there
were initial hiccups which were soon ironed out thanks to our collaborative efforts and
design thinking. The team then turned this into an opportunity. Today, the majority of our
grinding units use agro-waste. This has not only proven to be more economical but also
represents a small step from our side towards addressing the issue of stubble-burning. We
have, in fact, consumed 1.24 lac tonnes of agro waste in the year 2023-24. There are many
more such initiatives which have helped us in terms of better productivity, iency, and
cost optimisation, effic while contributing to the overall cause of sustainability. Our
customers are the key drivers of our business and its growth, and we rely on them for
their continual feedback so as to stay up to date with their needs and aspirations. We
know that the quality of our products and services differentiates us from competition. We
also know that the majority of our customers are the ones who build their houses for the
first time in their lives.
They have high aspirations of building smart houses. Keeping this in
view, we set up a separate vertical manned by around 700 people. They provide expert
advice and support on product usage based on need and types of construction. This
application engineering supports our customers in optimising costs and improving the
quality of their houses while creating greater customer value for us, which manifests in
higher customer loyalty and engagement. Our new smart digital solution to enhance the
business experience of our dealers, distributors, and channel partners has helped us forge
stronger ties with them and ultimately with our consumers. We thus contribute to smart
housing in a meaningful manner. Our "Build Smart" approach, with its focus on
sustainability and customer-service has a clear link to India's growth story also.
When our processes and equipment, through our smart practices, use less resources, drive
more output than their design, and consume more waste materials, we help in ensuring the
availability of such resources for future generations of the country. Similarly, through
our high-quality products that meet our customers' aspirations, along with our
technical services teams who hand-hold our customers in all their decisions, we contribute
to building smart houses, smart infrastructure, smart cities, and ultimately – a
smart nation.
"Build Smart" is not just a catchphrase; it is a fundamental
principle that drives innovation, productivity and continuous improvement through advanced
IT systems and tools. It is about leveraging cutting-edge ideas and newer technological
solutions for making faster and smart decisions. We are investing heavily in technology,
knowing that digital transformation is essential for our competitive edge and long-term
sustainability. However, mere investment in technology and upgrading infrastructure is not
in itself sufficient. "Build Smart" also requires strong conviction to move
beyond the status quo. Utilising real-time, accurate and relevant information will lead to
quicker and more informed decisions. This approach must permeate across our entire
organisation, from the bottom to the top, ensuring a seamless and effective transition to
the "Build Smart" culture.
As we embark on this exciting journey, I am confident that our
"Build Smart" motto will not only transform the way we
operate but also set new benchmarks for the entire industry. This guiding principle
embodies our vision for the future, emphasising innovation, sustainability, and excellence
in every aspect of our work. Together, we will create a future where excellence,
sustainability, and innovation are the norm, not the exception.
H.M. Bangur Chairman