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John Cockerill India Ltd.

BSE: 500147 Sector: Engineering
NSE: FLATPROD ISIN Code: INE515A01019
BSE 00:00 | 27 Jan 1307.25 55.20
(4.41%)
OPEN

1298.00

HIGH

1332.00

LOW

1227.55

NSE 05:30 | 01 Jan John Cockerill India Ltd
OPEN 1298.00
PREVIOUS CLOSE 1252.05
VOLUME 6561
52-Week high 1525.00
52-Week low 750.00
P/E
Mkt Cap.(Rs cr) 646
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1298.00
CLOSE 1252.05
VOLUME 6561
52-Week high 1525.00
52-Week low 750.00
P/E
Mkt Cap.(Rs cr) 646
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

John Cockerill India Ltd. (FLATPROD) - Chairman Speech

Company chairman speech

Dear Shareholders

We all have faced health human and economic challenges throughout thepast year. I would therefore like to start with a deep and heartfelt thought for each ofyou your families and your friends.

Over the course of the past year the world has been mired in two deepcrises: a pandemic and a worldwide economic meltdown. Dealing with all of this hasdominated much of our energy attention and for many of us even our emotions.

After these toughest slap-in-the-face moments in recent history theworld finally sees the silver lining and we are slowly moving past the worst moments ofthis pandemic - which makes it a good time to take a deep breath and assess the changesthat have occurred.

As of the beginning of the health situation John Cockerill India justlike the rest of the Group has put in place all necessary precautionary measures and hasextensively mobilized to mitigate any potential impact on our employees clientssuppliers and partners to contribute to the collective effort and to ensure thecontinuity of our activities. And while no one would be displeased if we could magicallyerase this whole pandemic experience it has been the crucible of our lives for a yearand we have much to learn from it. We now are to go beyond the headlines to make sure thatwe use the learnings to make our Company more competitive and render itself future proofwhile we recover and adapt to the post-COVID era.

We have seen that we have been able to very quickly implementteleworking that has helped us to keep our Company up and running throughout thischallenging past year. Additionally and very importantly our staff on site continued tohelp all of our clients be it in India Bangladesh Myanmar Nepal or Spain to keep theirprojects on going. Many of them stayed on site for months as the worldwide travelrestrictions would not allow for travelling back and forth during the pandemic. We owe abig debt to all these employees who have not seen their families while their relativeswere fighting the virus at home. At the same time the remote assistance of our IndustrySector's technology experts from all over the world has helped to weather the pandemicstorm as it allowed our Company to continue the successful erection of the sold equipmentand lines.

All of these efforts have been awarded amongst others by thesuccessful production of the first coil on the Push Pull Pickling line sold to NetworkSteel in Spain and a letter of appreciation explicitly thanking our teams for theircontinued support signed by our client in Myanmar JFE Meranti.

We are proud to have proven our clients right when they put their trustin us. Our Company being able to serve our clients also under extremely difficultconditions is not only the most meaningful aspect of our work but an ideal opportunityto further build our profile as an industry expert and another component of a sustainabledevelopment. Now with all our historical clients quickly recovering from the crisis onthe back of a drastically increased steel demand and steel prices at an all time highthis is also a strong sales argument and a real value proposition.

Over the years in close cooperation with John Cockerill Industry'sworldwide entities John Cockerill India has developed advanced designs and technologythat helped to strengthen our position as a leading technology and knowledge intenseCompany in India. Additionally our 2 manufacturing sites in Taloja and Hedavali arestrategic assets for the entire John Cockerill Group in its quest to create customervalue in India and worldwide. Our Group's clearly set goal is to help its Indian clientsto consistently tap new opportunities by increasing production capacity diversifyinginvestments and venturing into new businesses.

At the same time we are unwavering in our determination to safeguardthe health and safety of our employees. Our Company has achieved notable safety resultsalso last year. John Cockerill India's Operating & Maintenance team at the TataTinplate site in Jamshedpur has recently completed 10 years of service without any LostTime Accident (LTA) and have been awarded a 3-star rating in the client's ContractorSafety Management Assessment program. 2 tangible successes perfectly illustrating that theefforts that we put daily into the deployment of a health and safety culture are payingoff. Additionally on March 31 2021 our workshops in Taloja and Hedavali haverespectively completed 2808 and 1091 safe working days without LTA. With the protection ofall our employees' health and safety being our number one priority we are determined tocontinuously take appropriate actions individually and collectively to ensure to preventaccidents and diseases related to all our activities. In the current context the healthof our employees is more than ever at the center of our concerns.

Another highlight was the visit of the Belgian Consul General inMumbai Mr. Pierre-Emmanuel Brusselmans who visited our workshop in Taloja in Januarythis year to learn more about our Company's products and services portfolio as well asits production capacity in India.

The title of this year's annual report "Contributing to a moresustainable world" is rightly emphasizing that it is important as never before toassume our role as a Citizen of the World. For us this means to continue to pay dueattention to designing the technologies of the future and to further shift the focus tosustainable development.

We are convinced that more than ever the John Cockerill Group and ourCompany are to become relevant actors in the local national and global movement towardssustainability.

Our Company's ultimate goal is to consistently exceed customerexpectations. This year despite the pandemic John Cockerill India emphasized on trainingits employees in 'Lean Transformation' for better and newer ways of problem solving aswell as to foster customer centricity but also to continuously improve our operationalefficiency by reducing and ultimately eliminating any " Waste" or in otherwords reduce rework and increase productivity. As such the management team under the helmof our new Managing Director Vivek Bhide used the time during lockdown to have ouremployees learn about Visual & Daily Management as well as Problem Solving Processusing the proven "5-Why" technique. Led by a cross-functional dedicated teamthis process demonstrates our Company's true commitment to driving improvements.

We already have a capable organization with immense trust and loyaltyof our clients as well as stakeholders. As we move ahead in our journey we may need swiftadaptation and tough decisions especially for evolving to a product portfolio that ismore focused on innovation and value-engineering.

As we look ahead we see a year of continuing challenges but at thesame time we are geared up to make the organization more efficient to take on the currentand future competitive challenges. I am convinced that your support and cooperation willstrengthen John Cockerill India.

This year my special thanks goes out to the exceptionally resilient menand women who are part of our Company's staff and who's devotion and determination havehelped us stay firmly on course in these unprecedented circumstances. I am confident thatwith this solidarity and this determination we will emerge from this stronger together.

On behalf of the Board of Directors and myself I would also like toexpress my heartfelt appreciation to each of you for your support and understanding as wemove on into the new financial year with great hope.

Nevertheless the new financial year will be no different in thechallenges it will pose but I am optimistic and remain committed to all our stakeholdersfor sustainable profitable growth.

My thoughts are with you and your families and I thank you again foryour confidence!

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