"Our design-led manufacturing approach remains our guiding principle and we are
thrilled with the increasing customer interest in sustainable solutions. The demand for
efficient and eco-friendly designs and power systems presents us with ample opportunities
to add value and meet evolving needs".
Dear Shareholders,
Following our successful initial public offering (IPO) and listing on the stock
exchanges, it is my pleasure to present our maiden annual report to you. My heartfelt
gratitude goes out to our investors and shareholders for believing in our vision and
investing in our capabilities with unwavering faith. It is your support that has propelled
us forward and fortified our position in the market.
SyrmaSGS is a design-led manufacturing company with deep domain expertise in Mobility,
Hi-Tech, Healthcare, Consumer, Industrial and other solutions. Flexibility is built into
our operating model, so we can cater to small and large-scale production requirements.
Working with leading startups and established industry leaders, we have harnessed our
innovative electronic system design and manufacturing capabilities, thus becoming their
preferred value creator. At the heart of it, we believe it is our commitment to
collaboration, innovation and customer success that gives us a distinct edge over our
peers.
The big picture
Despite the challenges posed in the past and some that continue, including a prolonged
pandemic, geopolitical unrest, soaring inflation and supply chain constraints, we remain
optimistic about our prospects and that of the Indian economy. At SyrmaSGS, we believe in
turning threats into opportunities and that approach is why we continue to experience
steady demand from aLL our clients. Our industry diversification and new products and
application efforts, have enabled us to sustain our growth momentum amidst adversity.
Bourgeoning electronics manufacturing landscape
Another element of SyrmaSGS's differentiation is our strong presence in both domestic
and export markets. As India witnesses unprecedented demand from global companies seeking
manufacturing bases outside China, we are well-positioned to cater to this nascent,
burgeoning electronics manufacturing landscape. Our nation's favorable economic climate,
government support for manufacturing, industry maturity and skills set us apart from other
economies. The increasing need for electronic equipment across products, driven by the
push for e-mobility, smart metering, energy efficiency, connected health and 5G, presents
abundant opportunities for SyrmaSGS to excel.
Making responsible choices
Our business strategy prioritises sustainability and ethical practices. Environmental,
Social and Governance (ESG) principles are enshrined in all our endeavors, aligning with
the UN's Sustainable Development Goals to contribute positively to the environment and
society at large. To reduce our environmental footprint, we have set organisation-level
targets for GHG emission reductions and actively adopt renewable energy sources and
efficient waste management practices. Our product, design, operations and sustainability
teams work collaboratively to develop greener manufacturing methods, while cutting waste
across our value chain.
Inclusivity and sustainability are integral to our corporate values. We are committed
to grooming women leaders and ensuring adequate representation within our workforce, where
women currently account for approximtely 50% of our work force. Our 'Great Place to Work'
designation attests to the healthy, conducive and safe work culture at SyrmaSGS, which
fosters employee growth and success. Our CSR spends reinforce our inclusivity and
sustainability foundations.
To sustain our growth momentum, we will continue to invest in technology
infrastructure. We are excited by the increasing customer interest in sustainable
solutions. Embracing the integration of sensors and loT devices, we will empower our
customers with valuable insights, enabling them to make informed decisions.
Our expansion into geographical and vertical markets with promising growth potential,
combined with strategic acquisitions and investments, will diversify our portfolio and
consolidate our position as a preferred global supplier.
Aligning priorities
Our ethical approach, global vision, design- led manufacturing, flexibility in
production, sustainability, industry specific approaches, innovation and
customer-centricity define as well as differentiate us.
As we look ahead, we are thus confident about our ability to be agile, seize
opportunities, enhance efficiencies, drive profitable growth and create value for
shareholders in this dynamic operating environment.
To our customers, business partners, shareholders, investors and communities, we count
on your partnership as we unlock the next phase of development and growth for our
organisation. Together, we will continue to make clear, firm and positive strides.
We look forward to the years ahead with utmost confidence.
Regards,
Sandeep Tandon
Executive Chairman