Dear Shareholders,
I am pleased to reconnect with you after another year of outstanding
growth and success for the Automobile Corporation of Goa Limited (ACGL).
This past year has seen strong market growth in the auto industry,
which has positively impacted ACGL's performance. I am proud to announce that our company
has excelled across all metrics, from the number of buses produced to the profits
generated. In the FY 2023-24, your Company achieved a significant milestone by selling
6,511 buses, with 36% destined for the export market. This represents the highest number
of buses sold since the company's inception, highlighting our expanding presence and
competitiveness in the global market.
As we navigate the dynamic automotive landscape, we continue to pioneer
innovations that redefine industry standards. Our strategic focus on sustainability
extends beyond electric mobility to encompass eco-friendly practices and resource
optimization. By leveraging innovative technologies and strategic partnerships, we
continue to lead by example in promoting sustainability across our operations. As
associated with Tata Group, we are committed to sustainability and our goal of zero
emissions. ACGL's initiatives in this area align closely with the Tata Group's broader
sustainability objectives, reflecting our dedication to environmental stewardship.
Our commitment to Corporate Social Responsibility (CSR) remains
steadfast. Since 2015, ACGL has positively impacted more than 80,000 individuals with
contributions totalling of Rs. 425.28 lakh. We have invested in educational programs,
healthcare initiatives, skill development workshops, and infrastructure
improvements, ensuring that our contributions lead to sustainable and lasting benefits.
Our educational programs have provided e-learning platforms, scholarships, and school
supplies to underprivileged students, while our healthcare initiatives have facilitated
the provision of medical equipment to health centres. Our skill development workshops have
empowered local communities by providing training in various trades, enhancing
employability, and fostering economic independence. Infrastructure improvements have
significantly enhanced the quality of life in the regions we serve. These efforts go
beyond regulatory requirements, reflecting our dedication to making a positive impact on
society and the environment.
I extend my heartfelt appreciation to the management and employees, led
by our CEO, for their resilience and dedication in achieving this performance.
Lastly, I sincerely thank our esteemed shareholders, vendors,
government and local bodies, and all stakeholders connected to ACGL for their continued
trust in the company and its management. We look forward to another successful year ahead.
Warm regards,
Shrinivas V. Dempo