It always gives immense pleasure while interacting through Maitri. Congratulating the entire team member personally for the marvellous year achievements starting from performance to culture where we achieved highest ever Revenue and bottom line and achieving the award of Great place to work in top 50 manufacturing industries in India. Always delighted working together as a team.
Just to illustrate 2022–2023 was a crucial year for the team since we set a number of new benchmarks for growth, sales, and profitability. This year has been amazing with all your efforts as we exceeded our real goals by approximately 104% on the top line and 92% on the bottom line. This has only been achieved because of your diligent teamwork. We made several new records and also set out to expand the company in India as well as abroad. I believe together we can hit a number of milestones with your hard work, support, and determination.
This financial year brought a lot of good news and it’s a privilege for us to be named among the Top 50 Best Workplaces in Manufacturing 2023 and honoured as a Great Place to Work for the current year. Great people create excellent workplaces, I am grateful to each of you for making this possible. Our company has also received numerous awards, including the Water Efficient Unit by CII, and the topmost energy conservation unit in the pulp and paper sector by UPNEDA this year. Once again thank you all for making this happen, and I’m sure we will have more feathers in our cap this year.
In February, we got an opportunity to participate in the Paper One Show, Sharjah. We participate and got a chance to meet long-term satisfied customers from the Gulf region as well as explore new territory. I am happy to see a positive response from the customers and would like to congratulate the team for putting up a great show.
Furthermore, representatives of Guatemalas 3 largest sugar producing industries visited the plant in March. The team was impressed by our energy and hospitality. They even celebrated Holi with us and were delighted by our culture and values. Feedback of investors seems positive and we hope to align things in the right direction. This is an achievement for us, and we all will get an opportunity to expand ourselves further. The great news came up
as I am writing this for raw material MOU signed by Guatemalans, and this venture would lead Pakka to new horizons.
This financial year has been very crucial as we have predicted to achieve the highest profit ever and finalised Project Jagriti in India. I’m sure that this project will have a great positive impact after its execution which will take our company to new heights. In March, all leaders met in Goa to set Annual Operating Plan (AOP) for the upcoming financial year 2023-24. We also discussed the previous year’s performance to celebrate our wins and also understand the gaps to achieve higher targets. The team presented inspiring targets for this year and will now plan, and implement them in more detail together with you. Few of the key highlights of AOP:
1. Organizational structure – The restructuring of the organization is done for better functioning under the One Pakka vision. While global business will be headed by Ved, I have been assigned the daunting task of handling domestic operations. I will continue to work towards our goal, and try to do justice to the belief that you all have
in me. Hope with all your unified efforts we will keep working towards our goals.
2. Targets – This year, we have set an audacious target for the team. A topline of 550 crores and a bottom line of 111 crores have been set as a target for this financial year, and we will try our best to achieve these targets this year. I’m sure you will do your best to achieve these targets this year.
3. Projects – Project Jagriti a much awaited project got finalized this year after a lot of contemplations. This project will cost around 527 crores. Gurunath Reddy will ensure effective execution of the project and I’m sure he will do his best with the team to complete and execute the project. We need to put our best foot forward for this
project.
Now that we are entering FY2023-24, the Leadership team has set their team goals for the upcoming year, and now we need to align these goals with Lakshya Patra’s goals for team members to achieve our targets. We need our sight on the next target. While it seems challenging, I believe we can do it if we put all our energy and focus together as a team. We will continue to draw on our collaborative spirit to transform and ensure the resilience of
our Company through new challenges in the coming years. There is much to do, and we have a clear direction and a strategy for the future. I have strong faith in our leaders and team members, who continue to effectively execute strategy, and deliver sustainable value to all our stakeholders.
This year we have set an ambitious target for our Indian business, and I’m sure with all your support we can achieve these targets or even surpass them. Following are Indian business targets for 2023-24:
1. This year we target to achieve a turnover of 550 Crore and a PBT of 111 Crore.
2. To develop Flexi pack development < 5 Water Vapor Transmission Rate (WVTR)
3. One of the significant targets is to execute Project Jagriti effectively, which includes Pulp Mill Debottlenecking, ETP, and Recovery Support Function completion. A complete roadmap for Project Jagriti is to be prepared by March 2024.
4. Digital Display – To create effective dashboards and data availability across the organization for real-time decision making.
5. Leadership development across the organizations is set as one of the vital targets for 2023-24. We target to develop 56 leaders across the organizations in this financial year.
The targets set are audacious, and I hope we can achieve this as a team. Now functioning under one umbrella as the One Pakka team, I’m sure we can achieve more incredible milestones this year.
Once again, I want to thank you all for your continued commitment and effort. Every one of
us has an important role to play in the work ahead, and I’m confident that together we will
achieve great things.
Together and united, let us do things our way to achieve excellence!