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
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