A mar Kaul
Chairman, Ingersoll-Rand (India) Limited
Dear Shareholders,
2021 was a year to acknowledge and feel proud of our 100 years journey
and accomplishments with our purpose - Lean On Us to Help You Make Life Better.
We are celebrating our 100 years in India with our focus on continuous
innovation and deployment of advancing technologies across industrial air compressors of
various capacities and related services, as well as complete machines and spare parts.
During our journey, we always have been focused on understanding the market, providing
quality products and being futuristic in our customer commitment. Well continue our
promise, ensure to make our customers successful, and help make life better of communities
where we operate. Things have changed over 100 years, but what remains consistent is our
history of innovation and sustainability. As a stronger company, we deliver more
sustainable products, solutions and services, and we continue to build a great future and
culture in the company.
As we close another year of pursuing excellence while driving
sustainable innovation, I would like to express my gratitude to our employees who,
embraced our value to think and act like owners. Delivering on our commitments quickly
became a cultural norm and a competitive advantage. With our trust in employees and
commitment to live by Ingersoll Rand Execution Excellence (IRX) daily, we delivered strong
results and stand ready to grow in 2022-23 and beyond. Together, we are confident of
achieving new milestones while being committed to reduce the carbon footprint.
Poised for Sustainable Growth
Our portfolio transformation aligns with global megatrends:
digitization, sustainability, energy efficiency, and quality of life. These megatrends are
expected to have meaningful growth, and we're capitalizing on them through our own organic
growth enablers: demand generation, Industrial Internet of Things (lloT) and product and
service innovation. Also, we share our pride in our employees, customers and shareholder
achievements. As a stronger company, we deliver more sustainable products, solutions and
services.
We have transformed our product and services portfolio, becoming more
focused on sustainable end markets to meet customer needs by adding and launching 5 new
products to portfolio for industries like Air Separation, Hospital, Pharma, F&B. With
our 'made in India' products through numerous channel partners, Ingersoll Rand has helped
mission critical industries gain better efficiencies, even during the lockdown phase.
The opportunity to help customers is extraordinary. Ingersoll Rand
provides IOT enabled products through Helix and iConn, expanding channel footprint and
other industry-leading efficiency products that enable customers to reduce the energy
costs from air compressors up to 50% and air treatment solutions, or dryers, up to an
incredible 90%.
We have also launched our solar plant at Naroda, Gujarat manufacturing
facility aiming to accelerate our sustainability commitment and reducing dependence on
conventional energy by almost 40% with almost 1800 solar panels' installation at the
facility totaling capacity of 800 kWp.
Impact Begins with our Employees
Ingersoll Rand employees are the foundation of our success. We commit
to core values that foster a culture that celebrates diversity, equity and inclusion, and
promotes an ownership mindset.
Our employee engagement efforts produced substantive progress in 2021.
In our last engagement survey, all of our questions scored above the manufacturing
benchmark collected by our engagement survey partner.
2030 and 2050 Environmental Coals
Our pursuit of sustainability continues to be bold and transparent. Our
products and services provide a unigue opportunity and contribute to solving many of the
environmental issues. We are proud to share our 2030 and 2050 environmental goals, focused
on improvements in water, air and land quality. Our teams collaborate and brainstorm
together to meet our goals.
Many companies are focusing on Sustainability in an environmentally and
socially conscious manner, but we are focusing on addressing climate change, assess
climate risk and other sustainability related issues and determine ways to find solutions
as a business. In our efforts to make this happen, our company's goals underscore
strategic priority to operate sustainably across key areas of our business where we can
make a powerful and lasting impact. The commitments further unite our employees through a
shared sense of responsibility and purpose, bring value to our customers through product
innovation and stewardship and make a positive difference toward protecting our
communities. We prioritize the integration of sustainability principles into every
product, innovation we design, including a robust governance model and a focus on
fostering social and environmental improvement in our communities.
Looking Ahead: 2022 and Beyond
In the pages of this report, you'll witness the pride of our progress
and our excitement for the future — I want to extend a sincere thank you to all of
our employees. We believe the unique IR culture, differentiated with an ownership mindset,
will accelerate execution and performance in 2022 and beyond.
Sincerely,
Amar Kaul
Chairman