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Igarashi Motors Chairman's Speech > Engineering - Heavy > Chairman's Speech from Igarashi Motors - BSE: 517380, NSE: IGARASHI
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Igarashi Motors

BSE: 517380|NSE: IGARASHI|ISIN: INE188B01013|SECTOR: Electric Equipment
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Chairman's Speech (Igarashi Motors) Year : Mar '16
Dear Shareholders,
 
 With immense happiness and pride, I would like to mention that FY16 has
 been the best ever year for your Company since inception.
 
 This has been possible due to growing confidence of customers, focused
 technology & product development, proactive & energetic people
 engagement and sound financial management.
 
 This is strongly backed by the re-entry of Igarashi, Japan as Promoter
 during the year, with a significant investment to buy the shareholding
 from Blackstone in the Holding Company. During the tenure of
 Blackstone, they have played a vital role in improving all aspects of
 your Company''s performance along with the team. I express sincere
 gratitude to the Blackstone team for the strong backing of your
 Company.
 
 Your Company continues to add products and customers in the Automotive
 Torque Actuator Motor space in Power Train applications, arising out of
 the growing demand for such products in the Market.
 
 Together with Igarashi Global infrastructure, your Company continues to
 work on electric motors for new applications which is growing at more
 than twice the rate of vehicle growth.
 
 Over the last five years, your Company''s team has endeavored to
 continuously improve manufacturing engineering and operational
 performance improvement which is evidenced in the financial performance
 improvement over the last five years.
 
 I would like you to join me in complimenting your Company''s team and
 Igarashi for creating a business model to drive towards being the
 lowest cost producer in the world in the chosen niche application. This
 is well recognized by the Global Tier-1 Customers and with the re-entry
 of Igarashi, Japan as Promoter Shareholder in the Company, larger
 opportunities are being addressed by customers.
 
 I remain as always, grateful to you our dear shareholders for continued
 patience and confidence in the Company.  I am very happy to announce
 that this has been well rewarded by the highest dividend paid so far
 since the beginning.
 
 I continue to believe that there is much more value in the business
 opportunities being prospected in the future.  Yours sincerely
 
 K K Nohria
 
 Chairman
Source : Dion Global Solutions Limited
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