The world has been impacted severely by lockdowns on account of COVID19. This was a"Black Swan" event that severely impacted society and the economy. This periodin the history has completely changed the way we live work and interact. Given theuncertainty created by this pandemic it has been extremely challenging to makepredictions in terms of the economy going forward.
However it is in these challenging times that the "tough get going".Companies with value based leadership strong business fundamentals and a loyal workforcewill be able to innovate their business models plan and execute accordingly.
It gives me immense pleasure and a great sense of pride to inform all our stakeholdersthat Everest is reimagining the way we think of "spaces" to provide premierbuilding solutions.
Our reimagined Vision is "To Improve People's Lives by Reimagining Spaces".Along with this new Vision we have crystallized our Core Values into three simple andfundamental ones:
RESPECT EXCELLENCE AND INTEGRITY
We are absolutely committed to living out these values consistently and comprehensivelyacross all aspects of our company and towards all our external stakeholders. We areengaging every employee in workshops to discuss the value of these Core Values andinternalize them deeply. We believe this approach will drive a deep transformation ofEverest for the better.
REIMAGINE is our new brand "mantra" that pushes all our stakeholders to think"out of box" and push the envelope to create novel ways of construction of theirhomes offices and commercial premises with Everest solutions. REIMAGINE encompasses theentire spectrum of our stakeholders - our target consumers thinking of innovative designswith our range of products and services; our channel partners with improved and efficientways of retailing and distributing our products; our team at Everest creating betterprocesses in all areas for the maximum positive impact. REIMAGINE also means that thestatus quo is not good and that good is not good enough. This mantra is bringing all thepeople and activities at Everest together and is becoming a part of our DNA. It is byREIMAGINING our business model our structures and our processes that we have found theresilience to navigate through and emerge successfully in these extremely challengingtimes.
It has been more than a year since the pandemic disrupted the economy and createduncertainty in terms of a recovery. We believe that as the restrictions and lockdowns arelifted businesses will reopen and economic activity is likely to recover back topre-COVID levels in the first half of FY 2023 thanks to significant pent up demand as wellas stimulus packages and actions on the monetary front by governments across the world. Asthe world emerges from the current crisis we are likely to experience higher commodityprices and inflation in the short to medium term. The pandemic has accelerated"digitization" significantly. This is expected to change consumer behavior andoperating models of organizations across the world. Virtual engagements work from homehybrid methods of working and online commerce transactions are likely to be the order ofthe day.
Non Executive Chairman