MD's
Message
Romesh Kaul – M.D.
Dear All,
As I reflect on the year gone by, I am encouraged by some of the positive developments that have taken place at Mahindra Gears, whether it is our investment in strategic recruitment for building a ‘future ready organization’ or our initiatives for staff welfare in line with the Mahindra value of ‘caring for people’.
At the group level, our parent company and other group companies have performed fairly well in 2009-10. At the macro level, the green shoots of recovery were finally visible and other Indian companies both within and outside our industry have shown good growth.
As I reflect on the year gone by, I am encouraged by some of the positive developments that have taken place at Mahindra Gears, whether it is our investment in strategic recruitment for building a ‘future ready organization’ or our initiatives for staff welfare in line with the Mahindra value of ‘caring for people’.
At the group level, our parent company and other group companies have performed fairly well in 2009-10. At the macro level, the green shoots of recovery were finally visible and other Indian companies both within and outside our industry have shown good growth.
It was unfortunate that we couldn’t exploit these opportunities fully due to a variety of reasons including product mix and capacity constraints.
However, the good news is that the window of opportunity is not lost yet – the slowdown in the western economies has given new opportunities to Indian industry as it has accelerated and reinforced the shift towards sourcing from low cost countries (LCCs). As Shakespeare put it so eloquently, “There is a tide in the affairs of men, which taken at a flood, leads on to fortune”. Now is the time for us to seize that opportunity and grow.
I would like to conclude my message with the following thoughts. The company & the Gear vertical are in an expansion mode with substantial investments being planned in plant, machinery, key people resources etc. Investments are being made not only at Rajkot but at other parts of India as well, including a Greenfield project in Pune. I am convinced that this will help us exploit the opportunities I mentioned before and help put the company back on the growth trajectory. However, the onus is on each one of us to ensure that we reward the investors’ trust in us with sufficient returns on investment. This can happen only if every employee of the company works together as one to achieve the maximum output.
However, the good news is that the window of opportunity is not lost yet – the slowdown in the western economies has given new opportunities to Indian industry as it has accelerated and reinforced the shift towards sourcing from low cost countries (LCCs). As Shakespeare put it so eloquently, “There is a tide in the affairs of men, which taken at a flood, leads on to fortune”. Now is the time for us to seize that opportunity and grow.
I would like to conclude my message with the following thoughts. The company & the Gear vertical are in an expansion mode with substantial investments being planned in plant, machinery, key people resources etc. Investments are being made not only at Rajkot but at other parts of India as well, including a Greenfield project in Pune. I am convinced that this will help us exploit the opportunities I mentioned before and help put the company back on the growth trajectory. However, the onus is on each one of us to ensure that we reward the investors’ trust in us with sufficient returns on investment. This can happen only if every employee of the company works together as one to achieve the maximum output.
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