KEY STRATEGIC PRIORITIES

During the year, we embarked on our transformation journey aimed at unlocking our full potential and delivering sustainable value to all our stakeholders. To make KBL more competitive within the context of a challenging macroeconomic environment, we devised strategic ambitions and priorities by thinking ahead, by proactively engaging with our stakeholders, and by exploring opportunities for sustainable growth in the future.

Our strategies and key priorities are aimed at strengthening our offerings, enhancing our geographic presence, increasing market share, focussing extensively on our smart and innovative solutions, and setting new standards in product innovation, efficiency, reliability and sustainability.

Widening Market Reach

Key Enablers

• Leverage global presence and focus on high-growth market segments
• Increased business through channel partners. Extensive channel partner network is one of KBL’s key strengths
• Dedicated R&D set-up to develop new products or enhance existing ones to meet evolving customer demands
• Strong brand building activities

Material Aspects

Product Stewardship And
Innovation
Supply Chain Management
Marketing &
Communications
Market Presence
Economic Performance

Capitals Impacted

Improving Profitability

Key Enablers

• Product portfolio analysis, products consolidation and new product development
• Pricing and margin optimisation through competitive pricing, value-based pricing, upselling of products
• Production cost and process improvement by reducing rework and rejection costs, optimising workflow and eliminating inefficiencies
• Optimising green energy generation for reducing overall energy cost
• Working capital management, cost control, budgeting and continuous financial analysis

Material Aspects

Economic Performance
Product Stewardship And
Innovation
Energy Management
Materials
Supply Chain Management

Capitals Impacted

Digital Transformation

Key Enablers

• Offering digital technologies through innovative solutions like KirloSmart^TM
• Augmented Reality (AR) roadmap
• Advanced engineering softwares for product research and development and system engineering
• Intelligent automation of software systems and platforms for increasing operational efficiency and employee productivity

Material Aspects

Cyber Security and
Digitisation
Marketing &
Communications
Corporate Governance
Supply Chain Management

Capitals Impacted

Environment Protection

Key Enablers

• Conducting carbon footprint study
• Conducting awareness sessions for stakeholders
• Developing energy-efficient and lowest life-cycle cost products
• Conserving biodiversity at plants
• Energy Management System (ISO 50001:2018) certification for all manufacturing plants

Material Aspects

CSR and Local Communities
Emissions
Supply Chain Management
Waste Management
Water and Effluent
Management

Capitals Impacted

Talent Management and Competency Development

Key Enablers

• Identify high-potential employees
• Training and skill upgradation
• Succession planning
• Performance management and career development
• Employee engagement
• Diversity and inclusion

Material Aspects

Diversity, Equity and
Inclusion
Talent Attraction and
Retention

Capitals Impacted

Improving Plant Productivity

Key Enablers

• Implement roadmap of TPQM initiative
• Emphasising the importance of quality and adoption of TPQM as a foundation for Lean transformation
• Deployment of 8 pillars of TPQM activities
• Identify and eliminate the inherent losses in manufacturing processes
• Integrate autonomous maintenance to improve equipment reliability

Material Aspects

Raw Material
Human Capital
Development
Customer Safety And
Product Quality

Capitals Impacted

Supply Chain Management

Key Enablers

• Continuous supply chain assessment program
• Optimising and reducing transportation cost
• Category structure to monitor quality, cost and delivery
• Cross-functional teams for deployment of procurement strategy
• Procurement process tools and levers for cost optimisation

Material Aspects

Supply Chain Management

Capitals Impacted