Amid a transforming industry landscape to retain a di3erentiated edgerequires a visionary focus and a futuristic approach. At Triveni Turbines we have evolvedon both these counts to further boost the momentum of our growth.
led strategic agenda led by a powerful thrust on sustainable value-ledgrowth. Blending a deep understanding of the evolving customer needs with a holisticoutlook on innovation the Company has raised the bar across every facet of its businessvalue chain with pioneering breakthroughs designed to boost operational and costeffciencies through product excellence and exemplary service.
Revival in consumer sentiment propelled consumption even as theeffects of demonetisation faded away while the introduction of GST led to betterconsolidation in the organised sector. The global growth scenario aided this accelerationwith improving fiscal conditions and a favourable market sentiment enabling a markedpositivity in both the advanced and the emerging economies. All these factors augur wellfor the upturn in the investment cycle in the economy and we believe this could lead toimproved capex cycle as well.
While the domestic market remained muted during FY 18 the improvedenquiry and order booking situation witnessed from many markets globally helped TTL tohave significant improvement in order finalisation which validated the success of theCompany's differentiated business strategy in capturing the opportunities for growthunleashed by the changing industry scenario. Our strong global footprint across variousmarkets and geographies is helping us to offset the slow domestic market growth which isevident through significant increase in exports order booking in FY 18. We are seeingsigns of revival and subsequent growth in the domestic market.
The industry as is evident is moving aggressively towards a low-costhigh-efficiency model and keeping pace with this transition necessitates the creation ofa new business ecosystem designed to deliver these efficiencies in a sustained andsustainable manner. TTL's value proposition with its exceptional focus on drivingdifferentiation through innovation is centred on delivering customised solutions to matchthe specific needs of customers.
The dedicated efforts of our people who remained unwaveringly alignedto the Company's vision and goals once again played a pivotal role in leading thisperformance which was pillared on a strong focus on innovation. TTL has successfullybrought in a new scale of efficiencies to cater to the dynamically evolving needs of itscustomers for the power generation.
While design innovation is ensured by partnering with some of the topglobal design houses technology disruption is achieved through deployment of the latestmachines and tools. Innovation is also used extensively to streamline systems andprocesses to bring in greater agility into the organisation thereby making it moreresponsive to market changes and consumer needs.
This innovation edge is what in my opinion will continue to drive theCompany's success in the coming years as it engages itself more deeply with its customersto create innovative products and solutions across sectors and geographies. We maintainconstant communication with our customers to gauge their needs and strive to developcustomer-centric solutions. We remain committed to ensuring total customer satisfactionwith our value-accretive business model which is structured to map higher productivityand efficiencies for our clients at lower lifecycle costs.
At the same time we also remain steadfast in our commitment to createvalue for all our stakeholders through our service excellence which we shall continue toaugment with our distinctive approach to business. To all of them as also to ourcustomers and employees I would like to convey the heartfelt gratitude of the Board fortheir continued cooperation and trust in the Company's differentiated growth strategy. Hadit not been for their resolute support TTL would not have embarked on thisinnovation-driven journey of differentiating and of making a difference to the world.
With best regards
Dhruv M. Sawhney
Chairman & Managing Director