Chairman’s message
I'm reaching out to you today to express my optimism for the future. We are moving in the trajectory of adaptability and resilience as a group, and I have no doubt that we will continue to flourish and grow in the years to come. The company's future is promising owing to our dedicated and self-motivated team members. Together, our commitment, work ethic, and dedication have inspired people around us and set an example for them.
Our company's greatest asset, in our opinion, is its workforce, which is one of the biggest reasons that I feel optimistic. Our team is made up of skilled and passionate people who are invested in the success of our business. We strive to grow individuals based on their potential and skill sets and generously invest in their training and development in order to establish a culture where everyone feels respected and appreciated. Furthermore, we endorse capable leadership that motivates the workforce. We can draw the comparison of Chennai Super Kings here, who won their fifth IPL championship, under the captaincy of Mahendra Singh Dhoni, who is regarded as one of the best leaders in Indian cricket and was the captain for all five of these victories. MS Dhoni’s style of leadership is known for showing trust in his troops, believing in fresh talents, and grooming them according to their strength.
Another reason for high hopes is our commitment to sustainability. Being leaders in the development and production of green energy, we are committed to reducing our carbon emissions. We believe that sustainability is futuristically essential and we're proud to be a part of the solution. Finally, I have great expectations from the opportunities that lie ahead. India is a rapidly growing economy, and there is a huge demand for our products and services. We are well-positioned to capitalize on this growth, and I am confident that we will continue to grow and succeed in the years to come.
At our company HEG Ltd. which manufactures Graphite electrodes (a high-tech product made by 5 companies globally), we are expanding from 80,000 tons to 100,000 tons which will make our plant, which was already the largest plant in the western world, even larger. Today HEG is proud to serve most of the top 25 steel companies in the world. We've been exporting almost two-thirds of our production to more than 35 countries globally.
Graphite electrodes are used by electric arc furnaces (EAF) to make steel. The carbon emission by EAF steel making is one-fourth compared to blast furnaces. As steel is one of the major contributors to carbon emissions, the Western world has embarked on the shift from blast furnaces to EAF steel production. As a graphite-electrode-producing company, we will be proud to play a role in reducing carbon emissions and contributing to arresting climate change.
I am excited to share with you some recent updates on the CSR front that HEG Ltd. is actively pursuing. In the Jan to March 2023 quarter, we started the Akshaya Patra kitchen on 25th Jan '23 which was inaugurated by the Chief Minister of Madhya Pradesh. This kitchen will serve midday meals to 50 thousand children in 900 government schools in Bhopal and Raisen. This is the first Akshaya Patra kitchen in Madhya Pradesh; HEG Ltd. has spent Rs. 12 crores to build the kitchen and will spend Rs. 7.5 crores every year towards the cost of meals.
Also in Jan to March quarter, we completed our new school building at ₹22 crores which will enhance the capacity of our existing CBSE-affiliated Graphite Hr Secondary school from 1300 students to 2700 students. We have been running the school for the past 30 years that provides quality and holistic education to the children of our area nowadays. The new building has started functioning from 1st April 23.
Let us all move forward with vigorous optimism and build a better future.