There is no strong performance without a little fanaticism in the performer
It gives me great pleasure to report that the Company has performed exceptionally welldespite economic challenges and subdued growth in the manufacturing segment.
Our passion to identify the growth areas and customer expectations has been our growthmantra. We are passionate to understand the clients requirements with sensitivityand bring to life technology-driven innovations that deliver value with efficiency. Ourstrong after sales service further ensures constant customer engagement to know theirrequirements closely. The result is higher customer satisfaction index anddifferentiation that is essential for businesses to survive and grow in acomplex world.
FY 2015-16 performance
During FY 2015-16 our revenues increased by 5.2% and reported EBITDA and PAT marginsof 11.4% and 5.6% respectively. We delivered high volumes in both consumables andequipment further strengthening our industrial leadership. Automation business and PEBperformed exceptionally owing to the launch of new products and successful commissioningof projects during the year.
Innovation and automation
Innovation is in our DNA. We have imbibed the culture of innovation among employees toconstantly focus on improving our products and services. Our
DSIR recognised R&D Centre works closely with our customers and deliversexceptional solutions. This makes us invulnerable to competition and helps us improve ourcustomer relations.
Automation is our important focus area considering the aggressive infrastructuredevelopment plans of GOI. The Make in India campaign has alreadystarted showing improvements especially in Railways Infrastructure and Defence sectors.We have been consciously putting our efforts towards developing products with high levelsof automation. This will allow us to enhance our market share in these segments.
With Indias GDP growth at 7.6% our nation is steadily outperforming othereconomies. With high investor sentiments improving relations with CIS countries and thepossibilities of introduction of GST bill we envisage huge investments in infrastructureespecially in oil & gas ship & port building. This will culminate in goodbusiness opportunities for us in the years to come. We have also received CE Markingcertifications for some of our products which comply with EU safety health andenvironmental requirements thus opening up growth avenues in the European region.
We aim to become the best-in-class enterprise known for continuous innovation inproducts & solutions and significant growth by FY 2018-19 notwithstanding theeconomic or market scenario. We will focus on sustaining the initiatives taken over thepast three years in addition to the following:
Capitalise our customer relations technical and manufacturing capabilities
Build synergies with our current capabilities and resources in order to offernew products across domestic and export markets
Create value through forward as well as backward integration
Imbibe innovation culture & implement advance lean manufacturing process tomaximise efficiency and zero wastage
Level workload across all processes through line balancing so as to identifybottlenecks and excess capacity
Enhance focus on Project Engineering Business and strengthen the customer base
Strengthen IT for implementing digitisation across our processes and systems
Proud of our Adorians
Our outstanding achievements would not have been possible without the support of ouremployees. A constant zeal of finding avenues to add value to the organisation is thespirit of our employees. This is what leads us to such innovations at multiple levelstranslating to organisational growth as a whole.
Ador Welding Academy
Our Ador Welding Academy encourages young and fresh talent to make a career in weldingand offer them exciting opportunities and freedom to experiment. We nurture talent underthe guidance of seasoned Adorians with a special emphasis on establishing processes andimproving weld quality. We strive to move forward in the industry in both thought andaction as well as inspire new generations to see the exciting career opportunitiesavailable today.
We have consistently maintained high levels of corporate governance and ethicalstandards across our operations. We continue our endeavours towards corporate socialresponsibilities in the fields of education skill development water conservation andbetterment of society around our factory premises.
I would sincerely like to thank our valued customers and vendors for their constantfaith & belief in us our Board of Directors & the Management Team for theirconscientious guidance and all our talented Adorians for contributing immensely to theorganisational growth. We look forward to your continued support and expect your vitalinvolvement in the Companys journey towards achieving its goal.
Satish M. Bhat