Chairman’s Message

Greetings to all the Shareholders!

In my earlier communications with you, I have remarked on the ever-changing and dynamic nature of this world. In such an evolving world, our lives must be like water that constantly pursues its course and changes the environment it encounters. Life at KBL is no different, as we prepare to transform in all senses of the term.

This new chapter of our evolutionary journey is truly exciting. For us, transformation is not merely a shift in routine, but an overall process of growth. This journey that commenced with the genesis of the company, robustly marches ahead even today, with every new system we develop, every new process we command and every new team member we add. We had promised our great nation a service, and we have kept our word. Moving forward, we will strive hard to continue the good work in the future, which is even more promising and will make our nation and our people even more proud.

This is a transformation led by technology. As the world becomes smaller, we grow bigger with the exchange of knowledge systems and precision in our work. We continue to develop the latest innovations in fluid management and make them work where most needed.

Nonetheless, a fundamental transformation like this cannot be achieved through technology alone. It goes beyond materials and machines and is truly reflected in the spirit of the teams that developed these machines. Consequently, each valued member of Team KBL is at the very foundation of this transformation. New thoughts, new ideas and newer avenues find greater expression and implementation in this new phase of transformation within the Company.

We have set new benchmarks and explored fresh opportunities for growth by being responsible, proactive and focussed on innovation and technology. We have also established higher standards of innovation, efficiency, reliability and sustainability. To give an example, our water solutions for diverse industries across the world serve Millions of people every single day – assisting them in moving water where it is most needed.

With strong underlying demand from domestic industries and a favourable order mix in the overseas markets, we strengthened our offerings with smart pumping solutions and expanded our services portfolio. We have also leveraged our brand and presence across industries by focussing extensively on our innovative digital solutions, besides expanding our presence in the renewable energy products market. We have introduced a new era of intelligence in pump systems. Our mission is to ensure that India becomes self-reliant in fluid management in all core sectors and strategic areas, and we are pleased to have been able to accomplish this purpose every single day.

The year marked the centenary of the Kirloskarvadi Railway Station, and we were elated to be honoured by India Post and Indian Railways for KBL’s contribution in nation-building over the years. India has received some of the earliest engineering products from Kirloskarvadi, which has made a substantial contribution to its economic development.

Due to its connectivity and mobility, Kirloskarvadi Railway Station has played a critical role in the successful and remarkable journey of our Company, as it facilitated our reach into all corners of the world. In the initial years, the railway station and India Post served as the cornerstones of our primary operations and communications at Kirloskarvadi.

We are grateful to India Post and Indian Railways for releasing two special covers, ‘100 Years of Kirloskarvadi Railway Station’, and a unique pictorial stamp featuring an image of KBL pump to acknowledge and highlight the significance of Kirloskarvadi. We are honoured, yet humbled, to receive these accolades that have been bestowed upon us.

We are taking significant steps in our ESG journey aiming at long-term resilient and sustainable value. In FY 2022-23, our sustainable initiatives were targeted at enhancing the share of renewable energy (currently 23% in FY 2023; to be increased to 30% by FY 2025) in our total energy consumption, incentivisation of operational and value chain emissions, training suppliers on ESG aspects and our ESG-based principles, and exploring the sustainable alternatives for raw materials and packaging materials, among others.

Our main objective remains on designing and manufacturing energy-efficient products and services. We are also imbibing the aspects of circularity through encouraging reclamation of used products. Our employee well-being programmes focus on constant upskilling and providing regular career development reviews for enabling an agile and dynamic workforce. We have been instrumental in providing a safe working environment for our workforce with zero reportable incidents in FY 2023. We strive to conduct business in a transparent and accountable manner, including a strong oversight for ESG material topics and timely compliance with regulatory codes.

We are committed to building a sustainable and prosperous future, while staying true to the core values established by our founders. We firmly believe in the importance of responsible business practices that encompass environmental stewardship, social responsibility and strong governance. By maintaining a stringent focus on these principles, we aim to create a positive impact and contribute to the well-being of our communities, employees, customers and the environment.

Through our ‘One KBL’ strategy, we endeavour to streamline our operations, optimise efficiency and strengthen our customer-centric focus. We value our customers’ trust and loyalty, and this strategic integration is a testament to our dedication to their satisfaction. We are excited about this new growth phase and look forward to continue our journey of providing unparalleled products and services to our valued customers.

My great-grandfather, Shri Laxmanrao Kirloskar, was one of the earliest proponents of the government’s recent ‘Make in India’ motto, as he envisioned and contributed to make India AtmaNirbhar. Keeping the spirit of ‘Swadeshi’ philosophy at the forefront of his thinking and planning, he established the first-of-its-kind industrial township ‘Kirloskarvadi’ for manufacturing engineering products ‘in India by Indians’.

Our purpose of ‘Transcending Boundaries, Enriching Lives’ keeps serving as the guiding light, a beacon that inspires us to go above and beyond to create meaningful experiences and contribute to the betterment of society.

Committed to delivering on our promises, we strive to uphold the trust and honour bestowed upon us, as we continue to move closer to this purpose. By remaining dedicated to our core values, we aim to exceed expectations and make a positive impact on the lives of our stakeholders.

I would like to take this opportunity to express my gratitude to all our stakeholders for their unwavering support and ongoing association with KBL. Your support has been invaluable to us.

Once again, I extend my sincere appreciation to all our stakeholders for their trust and continued partnership. Your collaboration inspires us to strive for excellence in everything we do.

Together, we can forge a path towards a sustainable and inclusive future.

Warm Regards,

Sanjay C. Kirloskar Chairman and Managing Director
Kirloskar Brothers Limited