B. K. GOENKA
Growth drivers
Sectors like power, oil & gas, space and defence are growing
exponentially in India. Policies like Make in India and Atmanirbhar Bharat are
necessitating that pipes and tubes for such critical applications also have to come from
Indian sources only. We continue to participate in many such requirements coming up and
are also now qualified for supplying supercritical boiler tubes in various grades to BHEL.
We are currently the only facility in India that can produce certain grades of boiler
tubes right from steel bars to final tubes in an integrated manner.
With many accreditations and focus on developing and delivering new
grades and products, we are set to drive a robust growth for our Company in coming times.
While export markets are of great essence for the business, let me
reaffirm our sharp focus on the domestic market as well. There is a strong push and budget
allocation for infrastructure projects and key sectors like powergen, energy, defense,
space, among others. These are major avenues for our products. We can see great
opportunities for the Company going forward. We will continue to focus on geography and
territory expansion during coming years as well.
Way Forward
We have a strong focus on all the three aspects of environment,
social and governance. During FY 24, our Company sourced about 30 per cent total
electricity from renewable sources and our endeavor is to increase this in future.
The Company achieved zero water discharge and is committed to zero
waste to landfill in our manufacturing facility. As we move forward, I can see the Company
gradually firming up its position based on strategy and the strong foundation created
during FY24.
We look forward to improving our performance and market positioning by
increasing our penetration in niche and value-added segments and products. We believe this
will also help in insulating the business risks in case of challenging external
environments. We are confident that the performance of the Company will sustain and
further improve. This will be due to our relentless focus on penetrating into newer
markets and customer acquisition, developing and delivering new value-added and critical
products, strategic cooperation and securing approvals and accreditations, nurturing
innovation and digitization of processes which are part of the Company's growth strategy.
On behalf of Welspun Specialty Solutions' Board of Directors, I
want to thank all our shareholders for their sustained support, and all our customers and
business partners for their firm faith in our endeavors. Let me also take this opportunity
to thank our employees, who have powered our growth and success in FY 24 through their
commitment and dedication. Together, we look forward to building a strong, sustainable
future for our Company and continue to deliver value to our shareholders.