2016-17. At Shanthi Gears the year was marked by a focused drive for steadysustainable growth. Despite the domestic market registering a slowdown reacting to thedemonetisation and currency correction initiative of the Government your Company recordeda turnover of ' 203.82 Crores overcoming hurdles with growth-led strategies of enhancingefficiencies exploring new markets and enlarging the customer base.
In line with this the Company followed a roadmap of capacity enhancement new productinnovation market and channel development customer partnering and value added servicesto grow the business.
During the year the Company rolled out the OPEX model of work practices for optimisingefficiencies reducing downtime managing cost and adhering to best-in-class standards inquality and execution. Training and capability building programmes enhanced peopleefficiencies gearing them for greater responsibilities and growth.
At Shanthi Gears the future holds great promise. The Companys reputation as amanufacturer of quality gears and its technical expertise has positioned it as a reliablesupplier to large OEMs Government Undertakings End-Users and
Distributors. The Governments Make-in-India thrust and infrastructurebuilding programmes will further provide us the opportunities in conventional and emergingmarkets.
Across Shanthi Gears there is a strong focus on building sustainable and profitablegrowth. The team has charted out an aggressive growth map and is well on the way to meetambitious targets that it has set for itself.
Our People are our greatest assets. I thank the respective teams across the Company fortheir diligence and dedication and look forward to the achievement of greater goals.
In our journey the members of the Board have been a great source of strength andsupport. I thank them sincerely for their active involvement support and guidance to theCompanys Management Team and to me personally.
I thank all of you dear shareholders for your continued support and for the confidencereposed in us. We will do our best.
M M Murugappan