2007-2008 - Cgglobal.com

Your Company has begun taking significant
steps in creating a best-in-class global
managerial cadre. Our aim is to have a team
of 200 cross-functional global managers
across the Avantha Group
grow by no more than 1.7% in 2008. The only
beacons of growth are some key emerging
economies led by China and India, and the oil
and commodity producing nations. China is
expected to grow by over 10% in 2008; India
by somewhere between 7.5% and 8%; Russia
by over 7%; and the major Latin American
economies by over 5%.
Your Company, therefore, will need to achieve
higher growth and profitability at a time
when the overall global economic scenario
has become bearish and more volatile. This
is a challenge. It involves careful selection of
markets, portfolio rebalancing and increasing
the share of business in those emerging
economies which have large capital outlays
for infrastructure spends. It also involves
reorienting Consumer Products — a successful
cash generating business — into becoming
a truly consumer-brand-marketing driven
enterprise. Your Company’s Management is
seized of this strategic emphasis.
Given your Company’s inherent managerial
strengths, I am sure these initiatives will be
successfully executed.
As a responsible global organisation,
Crompton Greaves has the obligation to
lessen its carbon footprint throughout the
world. This is important in itself; it also makes
good business sense. We are in the process of
studying how this can be done for the Group as
a whole. Once, we are certain of our approach,
you will see us rolling out several key initiatives
in this area.
I thank all employees of your Company —
Crompton Greaves, Pauwels, Ganz and Microsol
— for the excellent work that they have done in
delivering such superior results. Knowing their
capabilities, and the drive of your Company’s
Senior Management, I am confident that they
will do even better next year.
Let me also thank you for supporting your
Company. You will agree, I am sure, that
Crompton Greaves has rewarded your support
by delivering superior long term shareholder
value.
With kind regards
Yours sincerely
GAUTAM THAPAR
Chairman
6 ANNUAL REPORT 2007–2008 CROMPTON GREAVES LIMITED