Dear Team,
The universe presents us with challenges so that we may learn and become more capable of moving toward our destination.
One such challenge arose in the Jagriti Project through a financial crisis. During this time, we stood firm and sought a solution with conviction. Our finance team, under the leadership of Himanshu ji, created an entirely different framework through which we will receive investment and become more capable for the times ahead. The framework that has been built will enable us to increase our shareholding and improve our funding significantly. In addition, our speed of work will also get a boost, allowing us to accelerate the project further.
This month, our finance team put in their complete strength in this direction. Neetika, Sachin, and Lokesh reviewed each and every document in full detail and made a firm resolve that no document would be signed without fully understanding every clause. Because of this dedicated approach, we were able to manage several risks and took every step with complete understanding.
From the month of June, the situation will change and we will be able to give momentum to our project. We need to be completely focused on starting PM4 as soon as possible and launching good products in the market so that we are able to transform flexible packaging.
In the direction of product development, we have increased the pace of work. Sudhir will now dedicate his time entirely to this work so that we deliver the right quality from the very beginning with the new paper machine. In the coming month, we will plan trials on good pilot machines with our own pulp so that we can determine the quality even before the machine starts and get moving on building the market. Alongside this, Sundar is actively working on coating trials and we are confident that the right product will take shape this month. Our endeavor is to bring about change through paper in at least a few applications.
The work of relocating the Innovation Team from Bengaluru to Ayodhya is ongoing and by next month we need to ensure that we bring all the equipment and set up the team so that they can progress further.
In the Food Services Division, we are making several changes. Progress here is absolutely essential so that we can support the entire business and move into a position of profitability. For this, some positive steps will need to be taken. We will need to transform our factory and move it onto modern technology while also bringing our costs under control. Efforts in this direction are ongoing. We are confident that in this field we can do the highest level of work in the world and in the times to come, this transformation will emerge clearly.
At this time, all of us need to contribute to our work with complete dedication so that we can face these circumstances and continue moving forward on the path of progress. I am confident that you will all continue to stand by us and provide your guidance.
With best wishes,
Yours,
Ved