Shareholders,
It is with great enthusiasm that I present to you our Annual Report for
the year 2024, a year that has been defined by resilience, transformation, and a steadfast
commitment to the excellence. As we move into a new era of industrial growth, we continue
to push the boundaries, embrace the cutting-edge technologies, and invest in the
sustainable progress, ensuring that our company not only thrives in today's dynamic market
but also leads the way for future generations.
India continues to be one of the fastest growing major economies in the
world, with GDP growth projected to reach 6.5%. This robust economic expansion is driven
by infrastructure development, digital transformation, and a strong emphasis on domestic
manufacturing under initiatives like "Make in India" and "Atmanirbhar
Bharat".
The Indian manufacturing sector, contributing approximately 17% to the
nation's GDP, is undergoing a significant transformation through technology
innovations. These developments, coupled with government-backed Production Linked
Incentive (PLI) schemes, are positioning India as a global manufacturing hub.
At KSB, our culture is one of our most defining strengths. As a part of
KSB group, we are deeply committed to upholding a legacy of strong ethics, integrity and
professionalism. Throughout the year, we have taken deliberate steps to reinforce this
culture by ensuring robust governance frameworks and conducting regular compliance audits.
Our zero-tolerance approach to ethical breaches remains a cornerstone of how we operate,
and we continue to strengthen our systems to align with the highest standards of corporate
conduct.
As we advance towards 2030, our Group strategy continues to be firmly
rooted in Technology & Quality Leadership, with a strong focus on sustainability and
aftermarket services. These pillars form the foundation of our vision to drive long-term
growth, operational excellence, and value creation for our stakeholders.
We have enhanced our product portfolio with cutting edge innovations
that not only strengthen our market position but also reinforce our commitment to the
technological advancement and sustainability driven solutions.
The year 2024 year has been marked by significant strides in * government
projects, water projects, power sector advancements, digital transformation, and
sustainability initiatives. We could secure
substantial orders under key government schemes, and we become the
first Indian manufacturer to supply an external firefighting system.
Sustainability remains a key priority, with third party ESG
certifications, zero waste initiatives, underlining our dedication to a cleaner and more
sustainable future. Big milestone for which we are really proud to have won the 'ESG
Champion of India 2024' Award at the Dun & Bradstreet ESG Leadership Summit 2024.
At KSB, we continue to prioritise the safety, health, and well-being of
our employees. In line with our vision of ‘Zero Accident and Zero Harm,' we
strive to maintain safe working environments through consistent adherence to safety
practices and regulatory compliance. We are also taking steady steps to build a more
diverse and inclusive workplace, where different perspectives are valued and respected.
As we conclude yet another remarkable year, I would like to extend my
heartfelt gratitude to all our stakeholders, employees, customers, suppliers, partners,
and shareholders whose unwavering support and commitment have been instrumental in our
success. I am confident that we will continue to grow, evolve, and set new benchmarks of
excellence in everything we do. With your continued trust and collaboration, we look
forward to scaling greater heights and shaping a future filled with endless possibilities
"