Dear Team,
Establishing the Jagriti Project and offering something truly distinctive to the market is absolutely essential for us. We must dedicate our complete energy and strength toward this goal.
We launched this project with the vision that we would bring change to the world through flexible packaging. There is still much work to be done in this direction. We need to undertake several experiments so that we can genuinely and comprehensively protect fully packaged materials. We must accelerate our R&D and succeed through collaboration. In the meantime, we need to produce paper that satisfies our customers in the market and offers something that cannot be obtained from other products. We are actively working toward this. Our chosen machine is highly advanced and will be capable of producing a variety of products that can serve multiple applications. It is essential that we stay focused on a specific category of products and deliver the highest quality. We are gradually reaching our conclusions, and I am hopeful that the product emerging from PM4 will be capable of revolutionising the country.
The project team is facing numerous challenges, the foremost being finance. When we are unable to provide funds in the right amount and at the right time, vendors hesitate. This has been our shortcoming. The financial arrangements we made could not be executed as planned, which meant the team did not get the momentum it needed. Our finance team has been striving to bring this situation under control by every means possible. Our efforts to work with banks were unsuccessful, and we had to make some tough decisions. We arranged funds at higher rates because completing the project on time is non-negotiable. Once we build the right product and bring it to market, the situation will change and investor confidence in us will be restored. This month, we will tighten our grip on the financial situation so the project can gain further momentum — but it is essential that we move the project forward with complete discipline. The foundation of this project lies in the awareness and proper fulfillment of day-to-day tasks. We need to improve in this regard. Our project is large and complex, with many partners and numerous difficult tasks. Only through discipline and full coordination will we strengthen our hold.
Mr. Mayank Jindal has joined us as Manufacturing Business Head. Mr. Jindal brings experience from several prestigious organisations, and we will have the right leadership to streamline our operations and bring energy to our work. I am fully confident that we have found the right leader, and we will move forward on the path of progress. I hope that in the coming months, most of my time will be focused on launching new products and driving investment, and I will be able to hand over the reins of the business to Mayank ji.
We had the opportunity to visit Finland with the IPPTA team, and it was a tremendously enriching experience. Finland is a highly developed country and a stronghold of paper production. We drew inspiration from several companies, and many possibilities for collaboration emerged. We were given a tour of the R&D centre of chemical industry leader Kemira, and their vision and investment truly inspired us. Similarly, visiting ABB’s production facilities offered many valuable lessons. We must keep learning from others and move forward through experimentation.
In flexible packaging, we are working with world-class companies, and we had the privilege of being part of a programme organised by the Ellen MacArthur Foundation in London. The purpose of this workshop was to bring transformation to the flexible packaging sector through paper, and through it we were able to connect with several progressive and large industries. We will endeavour to deepen these relationships further and work together to bring about meaningful change.
This is a challenging time, and I am fully confident that we will work together as one and bring about change in these circumstances. This period will strengthen our foundation further, enabling us to successfully realise our purpose of leaving our planet cleaner.
I sincerely thank each one of you for continuously striving for excellence in your respective roles.
With best wishes,
Yours,
Ved
