It is my pleasure to introduce to you our third Sustainability report following GRI G4 guidelines, covering the reporting period April 2016 to March 2017, disclosing our sustainability processes and performance. We endeavour to uphold sustainability values as laid down by the Group while ensuring long term sustainability of the unit.
At IPT, 2016-17 was a challenging year, not only from market perspectives but also operational issues including a fire that broke out in our acrylic dye house. The team rallied despite tough situations to continue operations and serve our customers. We believe that our focus on sustainability aspects has prepared us to face the challenges.
Our major focus in the reporting period was on safety and hygiene. Safety teams were formed in our acrylic, cotton and textile mills. Our fire hydrant systems and our emergency preparedness were strengthened. Safety and health awareness programs were conducted for all our employees. We focussed on energy and water conservation, conducted electrical audits and brought in external safety experts. We received the OHSAS 18001 certification for our unit. You will read more about these efforts as you go through the report.
We have also conducted manpower studies through experts as a part of our cost optimisation programme. Our focus is to increase our Value Added Products (VAP). We have organized our facilities to produce differentiated products more suitable for low speed machines. We endeavour to increase our export volume, leveraging the advantage in Turkey and European markets.
We have launched the Bosstomer programme, where the entire focus of both operations and marketing is Customer. We have conducted customer surveys to identify improvement areas and develop new products like melange and dyed yarns. Key accounts management was another focus area which helped us to increase volume with high value accounts. We also focussed on qualitative engagement with key stakeholders like Dept. of Trade, Board of Investment, Dept. of Finance, Dept. of Energy, the Indian Embassy and local government and semi government agencies. We were able to showcase the textile business, and increase the interest of government bodies in the textile sector which has resulted in the Board of Investments working on a roadmap for the textile industry.
We have initiated a talent management process for both expats and our Filipino employees. This will help develop a strong local second line leadership to steer IPT going forward. Our customers are our assets and we put all out efforts to delight them. Despite the adverse economic conditions, our continued efforts in product innovation, especially in expanding our VAP portfolio, and technology upgradation is expected to yield significant improvement. Going forward, we will continue to focus on our roadmap to achieve sustainability targets.
Mr S.L. Sipani (President, IPT)