Message from
Chairman’s Desk
As a company, we believe that growth is ingrained in our DNA, and we have consistently evolved over time. It gives me great pleasure and honour to announce a significant transformation and advancement in our Company’s identity. Drawing upon our rich heritage spanning 75 years, we have now rebranded from Mahindra Intertrade Limited to ‘Mahindra Accelo Limited’ (MAL).
Dear stakeholders,
I am thrilled to report that our Company has again delivered a stellar performance this year. Despite encountering various challenges, we registered record-breaking results, achieving the highest-ever revenue and volume. This performance is a testament to our dedication to innovation and our steadfast focus on technology. Our success would not have been possible without the resilience and commitment of our exceptional workforce. Together, we demonstrated a strong and agile business mindset, allowing us to navigate through turbulent times and emerge even stronger. With great pride, I commend our team for their remarkable efforts and for raising the bar for future accomplishments.
Over the years, our business models have evolved to serve various industries and expand our portfolio of products and services. All our offerings are oriented towards decarbonising industries in one way or another. Our efforts include improving steel efficiency, developing clean energy solutions utilising steel, and recycling steel waste, all driving us towards a carbon-neutral future.
Transforming for the Future: Evolution from Mahindra Intertrade to Mahindra Accelo
As a company, we believe that growth is ingrained in our DNA, and we have consistently evolved over time. It gives me great pleasure and honour to announce a significant transformation and advancement in our Company’s identity. Drawing upon our rich heritage spanning 75 years, we have now rebranded from Mahindra Intertrade Limited to ‘Mahindra Accelo Limited’ (MAL). We have progressed from our humble roots as a steel trading and processing company to becoming a leading ‘Mobility and Energy Components Company’. Our commitment to progress has enabled us to remain at the forefront of innovation and technology, and we look forward to continuing to serve our customers with the same level of excellence under our new identity.
A Fresh Perspective: Rebranding for Success
Over the years, our business models have evolved to serve various industries and expand our portfolio of products and services. All our offerings are oriented towards decarbonising industries in one way or another. Our efforts include improving steel efficiency, developing clean energy solutions utilising steel, and recycling steel waste, all driving us towards a carbon-neutral future.
With our Company having evolved over several decades, it has become increasingly important to realign our brand position to reflect both our current and future aspirations. Accordingly, we have transitioned to become a ‘Mobility and Energy Components Company’.
Achieving Excellence: Our Strong Performance
During the year, we achieved historical results by recording the highest-ever volumes and revenue. FY 2022-23 saw our volume and revenue grow by 27% and 37%, respectively, over the previous year. Our enhanced operational efficiency, robust manpower, customer-centric approach, acquisition of new customers, and innovative mindset have contributed to this achievement. Additionally, our plants are currently operating at optimal capacities. Building upon such record performance, we continue to enhance our capacities, invest in new technology, enhance people skills, and develop new products and services. All our businesses are focussed on providing cutting-edge technology to our customers with a strong emphasis on decarbonisation.
Driving Growth: Capability Building and Investment in the Future
At the heart of our Company’s culture lies our unwavering commitment to our RISE values, which drive us to innovate and work collaboratively towards our shared goals. We owe our success to our passionate employees, who are our greatest assets and the driving force behind our growth. Their focus on our Company’s goals has enabled us to achieve exceptional results and reach new heights. We are proud to have been ranked as the 3rd best mid-size company in the Great Places to Work awards. This recognition inspires us to dream bigger and strive harder for continued excellence.
We are currently operating our plants at optimal capacity utilisation. Last year, we invested in an advanced, fully automated Shearing line at our Kanhe (Pune) plant, which has proven to be a game-changer in our operations. Building on this success, we are now focussed on further enhancing our capabilities by investing in cutting-edge technologies such as a world-class high-speed Trapezoidal Line and Slitting line at our Chakan (Pune) plant. These strategic investments will allow us to expand our existing business and attract new customers by providing high-quality solutions with shorter lead times.
With an objective to constantly innovate and making our Company EV-ready, we have embarked upon our journey to become a Tier 0.5 Auto Component player.
Charting a Course: Our Vision for the Future
With a strong recovery post covid, the global economy faces recessionary pressures and high inflation. Central banks across the world are increasing interest rates to curb high inflation. This can impact short-term demand and increase volatility in commodity prices. While India is better positioned amongst the global economies to ride these uncertainties and will be one of the fastest-growing economies, we must be prepared to handle any challenges and surprises. The past few years have made our Company more resilient and prepared than ever before. I am very optimistic that our Company will continue to deliver strong results by focussing on technology, sustainable practices and high standards of Governance.
As we embark on a new chapter, I want to express gratitude to all our stakeholders for their continued trust, support, and confidence.
Warm regards,
Bharat Doshi
Chairman
