We think globally while we act locally; serving as a bridge between cultures and markets. Our manufacturing facilities are strategically situated across four continents to cater to global requirements. This expansive footprint not only enhances our global visibility but also ensures proximity to our diverse customer base thereby ensuring optimal cost efficiency, faster turnaround times and strict adherence to local sourcing regulations. Through our global network and local expertise, we not only deliver value to our customers but also enrich the communities in which we operate.

This year was one of strategic advancements, that will help in laying the foundation for robust year-on-year growth in the coming years. Our deliberate shift from large-scale projects towards a more sustainable business model has yielded positive results. Our relentless pursuit of efficiency and profitability has enabled us to maintain a net debt-free status while optimising cash flows.

The fourth industrial revolution has ushered in a host of organisational and ecosystem-wide changes. In these volatile times rife with opportunities, we understand that staying relevant requires more than just keeping pace with changes – it demands a proactive approach to reshaping the business practices and offerings to meet the evolving needs of customers around the world. We are steadfast in our commitment to not only surviving but thriving by aligning physical and digital technologies. We realise the importance of long-term investments. We are building a future-ready and resilient business by investing in renewable energy solutions, optimising resource utilisation and minimising our environmental footprint across the product lifecycle. Our dedication to delivering excellence and innovation while making a positive impact on the society and the environment remains unwavering.

One of our strategic initiatives over the past year has been the concerted effort to reduce our exposure and reliance on the low-margin and working capital-intensive Engineering, Procurement, and Construction (EPC) segment. Simultaneously, we have been bolstering our revenue streams through services and value-added products by shifting our focus towards high-margin contracts. This move has not only improved our cash flow and profitability but has also provided a more consistent revenue stream and enhanced our working capital. Moving forward, we remain committed to prioritising high-margin, profitable contracts that align with our strategic objectives and contribute to sustained growth and profitability.

As global markets rebound, we are leveraging our brand strength and reach across various industries to seize these exciting opportunities. This involves deploying targeted strategies tailored to each industry, harnessing synergies, and capitalising on emerging trends to ensure sustained growth. These strategic measures ensure sustained value creation for our esteemed shareholders as we navigate dynamic market landscapes.

Our growth trajectory is set to be dynamic and driven by several strategic factors. First and foremost, our robust order book for Made-to-Order and Engineered-to- Order products lays a strong foundation for sustained growth. These customised solutions not only meet the precise needs of our customers but also secure a reliable revenue stream and build enduring relationships. Additionally, the improving economic landscape presents numerous growth opportunities across various sectors, fuelling our optimism for the future.

Looking ahead, we are invigorated by the potential for ongoing growth and innovation. We owe a profound debt of gratitude to all our stakeholders, whose unwavering commitment and support have been crucial. Your faith in our vision drives us, steering us through challenges and towards new opportunities. We seek your continued partnership and encouragement. Together, we have reached significant milestones and together, we will surmount any challenges we may face.