We thrive under visionary leadership
We thrive under experienced, proficient and visionary leadership. Our Board of Directors, with their diversified skills and competencies, guide us to anticipate and stay ahead of the trends and the competitive landscape. An experienced management team, with their deep understanding of respective businesses, implement strategies to seize opportunities and ensure sustainable growth.
We have invested in capacities and people
We are confident of the industry’s future and have invested a significant capex of ₹ 357 crore during FY 24 towards expanding capacities and capabilities. We added to the workforce to align with future opportunities, with plans to significantly augment headcount in the Power Transmission business.
Key Updates from FY 24
Sugar
Sabitgarh sugar unit expansion by 2,000 TCD to 9,000 TCD
Process change to DRP (refining process) at Milak Narayanpur unit
Modernisation, debottlenecking and efficiency improvements across units toward cost optimisation
Alcohol
New multi-feed 200 KLPD distillery at Rani Nangal
New modern bottling plant at Muzaffarnagar alco-chemical facility to produce premium Indian Made Foreign Liquor (IMFL)
Power transmission
Announced further investment, of ₹ 180 crore towards capacity enhancement in gears segment (excl. Defence). Coupled with previously announced investments, the gears segment’s annual business potential to increase from ₹ 250 crore to over ₹ 500 crore
New dedicated defence multi modal facility at Mysuru
We have reinforced our financial foundation
Our disciplined approach to capital allocation ensures attaining long-term objectives, maximising shareholders’ return and sustaining financial health. This has ensured a solid business model, with steady growth and healthy cash flow generation, strengthening our balance sheet position despite significant capex commitment. Our improved financial strength and outlook further resulted in an upgrade in our long-term credit rating to AA+ (Stable) ICRA, reinforcing our ability to invest in the future at a lower cost.
We are scaling technology excellence
Through our digital transition journey, we have embraced cutting-edge technologies to significantly ramp up capabilities including enhancing operational efficiency and decision-making. Our field-related technologies empower farmers towards better crop management while enabling us to effectively manage the supply chain. In the Engineering business, we remain focussed on investing in advanced technologies to enhance our competitive edge.
