Shareholders,
It is with great enthusiasm that I present to you our Annual Report for the year 2024,
a year that has been defined by resilience, transformation, and a steadfast commitment to
the excellence. As we move into a new era of industrial growth, we continue to push the
boundaries, embrace the cutting-edge technologies, and invest in the sustainable progress,
ensuring that our company not only thrives in today's dynamic market but also leads the
way for future generations.
India continues to be one of the fastest growing major economies in the world, with GDP
growth projected to reach 6.5%. This robust economic expansion is driven by infrastructure
development, digital transformation, and a strong emphasis on domestic manufacturing under
initiatives like "Make in India" and "Atmanirbhar Bharat".
The Indian manufacturing sector, contributing approximately 17% to the nation's GDP, is
undergoing a significant transformation through technology innovations. These
developments, coupled with government-backed Production Linked Incentive (PLI) schemes,
are positioning India as a global manufacturing hub.
At KSB, our culture is one of our most defining strengths. As a part of KSB group, we
are deeply committed to upholding a legacy of strong ethics, integrity and
professionalism. Throughout the year, we have taken deliberate steps to reinforce this
culture by ensuring robust governance frameworks and conducting regular compliance audits.
Our zero-tolerance approach to ethical breaches remains a cornerstone of how we operate,
and we continue to strengthen our systems to align with the highest standards of corporate
conduct.
As we advance towards 2030, our Group strategy continues to be firmly rooted in
Technology & Quality Leadership, with a strong focus on sustainability and aftermarket
services. These pillars form the foundation of our vision to drive long-term growth,
operational excellence, and value creation for our stakeholders.
We have enhanced our product portfolio with cutting edge innovations that not only
strengthen our market position but also reinforce our commitment to the technological
advancement and sustainability driven solutions.
The year 2024 year has been marked by significant strides in * government
projects, water projects, power sector advancements, digital transformation, and
sustainability initiatives. We could secure substantial orders under key government
schemes, and we become the first Indian manufacturer to supply an external firefighting
system.
Sustainability remains a key priority, with third party ESG certifications, zero waste
initiatives, underlining our dedication to a cleaner and more sustainable future. Big
milestone for which we are really proud to have won the 'ESG Champion of India 2024' Award
at the Dun & Bradstreet ESG Leadership Summit 2024.
At KSB, we continue to prioritise the safety, health, and well-being of our employees.
In line with our vision of ‘Zero Accident and Zero Harm,' we strive to maintain safe
working environments through consistent adherence to safety practices and regulatory
compliance. We are also taking steady steps to build a more diverse and inclusive
workplace, where different perspectives are valued and respected.
As we conclude yet another remarkable year, I would like to extend my heartfelt
gratitude to all our stakeholders, employees, customers, suppliers, partners, and
shareholders whose unwavering support and commitment have been instrumental in our
success. I am confident that we will continue to grow, evolve, and set new benchmarks of
excellence in everything we do. With your continued trust and collaboration, we look
forward to scaling greater heights and shaping a future filled with endless possibilities
"