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14Vice Chairman &Managing Director’s MessageThe year under review was a challenging yet eventful year for TIL. Despite certainimpediments to socio-economic progress, including deferment in infrastructureinvestments and projects, India is expected to grow at a robust pace in the comingyears. Infrastructure clearly is the critical component for economic development andincreasing India’s global competitiveness. The macro-economic outlook for India posesgreat promise and today the world acknowledges that India is a country with highgrowth and vast opportunities.
Overview Performance Reviews Governance Financials15Annual Report 2010-11It has been a significant year for TIL in terms of the initiatives we tookto accrue better benefits in the long-term and keeping in mind the goodtimes ahead in our business space.Brand India, under the Twelfth Five Year Plan will be driven by demographicadvantage and investment in infrastructure, further strengthened by a youngpopulation. It is no longer a question of whether, but more of when! In theinfrastructure space in which your Company operates, the growth drivers for2011-12 will be the rising demand in domestic markets coupled with rapidurbanization. As India moves towards inclusive growth, we will also start seeingmore and more infrastructure investments being made in rural India.SETTING THE PACEThis year’s emphasis has been on organizational realignment, to enhancestrategic focus in our manufacturing business and to reinforce our commitmentto service excellence. In addition, the focus on people development to evolveinto a business model with the customer at its core remains our strategicimperative.The transfer of the Caterpillar dealership of Construction, Mining and PowerSystems Solutions to Tractors India Private Limited (TIPL) - the wholly ownedsubsidiary was done to enhance customer-centricity and widen coverageacross existing as well as emerging markets. Along with the realignment,there have been other major investments for the future for better organizationalpreparedness and to leverage the ensuing boom time. The organizationalrealignment and other strategic investments both in terms of facilities andpeople impacted your Company’s profitability.On a consolidated basis, the total income (including other income) stood at` 1,402.81 crores in 2010-11, compared to ` 1,079.89 crores in 2009-10and profit before tax stood at ` 90.06 crores, compared to ` 91.36 croresin the previous year. Despite a positive top line growth of 30 per cent,your Company’s profit was almost the same as last year primarily due tothe investments and initiatives carried out to further optimize the marketopportunities, and be ready for the large projects which should happen in thenear future. The management priority of your Company is to prepare for thecoming years, and for us these proactive actions are deemed ‘Investment’rather than ‘Cost’.TODAY’S BUSINESSIt has been a significant year for TIL in terms of the initiatives we took toaccrue better benefits in the long-term and keeping in mind the good timesahead in our business space. New product launch, new collaborations, focuson Rental & Used Equipment and enhancing our market coverage are someworth mentioning. Many new facilities were opened and some upgraded duringthis period. We laid special emphasis on investing in people both in terms ofrecruitment and capability development. We are cognizant of the fact thatachieving visible and sustainable improvement in performance is a long-termgoal. It is just a matter of time before your Company reaps higher return-on-‘people-investment’. This will enable TIL to capitalize on new opportunities andbecome a more customer–driven organization.MATERIAL HANDLING SOLUTIONSFor quite some time, diversification has been the overriding focus at TIL -diversification through strategic alliances and knowledge acquisition fromglobally acclaimed industry players. We have launched a series of products thatinclude a 10 MT Truck Mounted Slew crane and indigenously designed and built75 MT Truck Mounted crane. Our product range offers a superior alternative
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“We make our customers more profi
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