Letter from the Executive Chairperson
I am extremely proud of what we were able to accomplish.
Our foundational strength and the agility of our operating model coupled with theunparalleled commitment and support of a resilient workforce allowed us to finish theyear with a satisfying performance.
The financial year 2021-22 marked yet another year of extraordinary events during whichthe world continued to remain under the grip of successive waves of the pandemic.
It was further characterised by unexpected supply chain challenges aggravated byadverse geopolitical situations. In spite of such adverse conditions I am extremely proudof what we were able to accomplish. Our foundational strength and the agility of ouroperating model coupled with the unparalleled commitment and support of a resilientworkforce allowed us to finish the year with a satisfying performance.
In that spirit we continued our sustained efforts towards making Gabriel India thesafest place to work in. We achieved 100% vaccination (with both the doses) for our entirestaff of 2556 employees across seven locations. Moreover we continued to practiceCovid-19-specific precautionary measures and regularly monitored the health status of allour employees. We also undertook several community care initiatives for their well-beingand safe-living.
At Gabriel India we are stepping towards stability and sustainability in order toachieve our vision of being amongst the top five shock absorber manufacturers in theworld. To that end we have been working intensively on the technological transformationsto cater to the emerging needs of the Electric Vehicle (EV) customers. Our first moveradvantage has allowed us to gain market leadership across the electric 2 & 3-Wheelerssegments. Our R&D efforts are further aligned towards developing technologies thatfocus on light-weighting noise reduction and automation to improve product quality andreliability. Additionally we have made improvements in our capex and stepped towardssetting up a state-of-the-art Technology Centre at Chakan that will allow us to strengthenour design and engineering capabilities to help meet the evolving technological needs ofthe Automotive industry.
Technology through the lens of sustainability
Climate change is the defining challenge of our times and Gabriel India is whollycommitted to playing its part in addressing it. Our sustainability roadmap helps us to bea leader in environmental stewardship. We aim to become carbon neutral by 2025 by reducinggreenhouse gas (GHG) emissions energy conservation and water conservation withzero-wastage. We are giving our teams the freedom to take responsible decisions that willpromptly meet customer needs. Additionally we are investing to make our services moreinnovative and competitive and building on the capabilities of our people supported bybetter systems and processes and focusing on delivering digital technology at scalewhere we can play to our strengths.
Transforming with technology
The Automotive industry is undergoing transformative changes because oftechnology-driven trends. This technological advancement is further transforming the wayin which the auto component players react to the emerging needs of consumers to bringabout a change by integrating automation digitalisation and the IoT (Internet of Things)with the manufacturing processes. The industry is also witnessing an increasing tractionof EVs especially in the 2-Wheeler and 3-Wheeler segments. Notwithstanding the lowpenetration of EV (less than 1%) in the overall Auto markets we are anticipating thatthis sector will see a stronger growth translating into an incremental demand for newgeneration components.
Future Ready To stay ahead of the industry developments we will continue tostrengthen our manufacturing capabilities by integrating digitalisation acrossdepartments. Our efforts towards automating processes and systems underpins our vision ofachieving zero- defect backed by 'Garuda': The level zero automation. This approach willenable us to develop newer products for newer models while leveraging latest technologies.With this we will carry on exploring newer opportunities in the EV space and in adjacentareas while leading from the front in the market. Thereby creating value for thestakeholders sustainably.
With all our strategies and strengths we are standing tall to adapt to the evolvingmacro trends and optimise results regardless of external factors to remain on track forlong-term growth. I would like to thank all our stakeholders for their support andinterest and investment in our Company. With your support we will step ahead to executeour strategic plans and focus on maximising value-creation. With my best wishes
Anjali Singh Executive Chairperson
Gabriel India Limited