Page 21 - TCE Annual Report 2019-2020
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Delivering Aspirations | Achieving Scale
COVID19 Specific Measures • Paperless digital project site and low-touch shop
Revenue measures floor SOP
• Enhanced revenue measures across the ecosystem • GMP/GMA certification for existing pharma /
– sales, delivery and enabling functions as medical device units
champions. While we focus on the optimistic
scenario we continue to keep a close watch on
actual outcomes Cost Measures
• Optimise contract staff / farmed out work +
• Focus on the domestic market working closely revised terms for contract staff that are required as
with our existing customers and GOI projects – a must (CV / PQ)
especially infra, smart cities, transportation. In the
current times, we are also keeping a tab on the • Optimisation of all costs mainly travel and site
possible China relocations (Korean/Japanese/US guest house rentals and office space with Work-
players) From-Home (WFH) as a new normal
• Deepen relationships and connect with existing • Enhance collection efforts and explore
international key customers (OPEX/DEC) mechanisms to recover old debts
• Group customers/synergies • Salary restructuring (keeping CTC constant –
restructure fixed & variable)
• Leverage digital, process, asset digitisation and
plant sustenance opportunities • No employee reductions or any adverse measures,
however no increments or promotions for FY
• Specific short-term sales strategies 2020-21
• International engineering outsourcing
• Fresh Graduate – All offers to be honoured –
• Plant digital and IIOT joining deferred to Q4
• Project revival services
Future Readiness
• Plant sweating, extension, restart and expansions
COVID19 will redefine the economy and business in
• Project audits and reviews many ways. The New Normal bet will be more digital
and less physical, possibly in the short term more
Adjacencies being targeted with Digital, Modular OPEX focused and less significant CAPEX, and as a
and Low-Touch economy principles as relevant to silver lining more green, sustainable and circular then
Architecture-Engineering & Construction sector the pre-COVID19 times.
• Digital twin, asset digitisation, digital handover
In the physical realm as well, it will be standardised
• Mini-EPC (~100 Cr) – modular units, skids, and modular, to be more efficient, sustainable and
pre-cast/pre-fab, mini-plants and warehouses
greener. As we enter Industry 5.0 era, which refines
• Explore new geographies especially in Europe the collaborative interactions between humans and
machines we are working towards creating newer
• Enhanced 3D, 4D and 5D conversion and
simulations opportunities and changing the way we respond and
remain agile, lean and sustainable as an organisation.
COVID Specific Focussed Actions Our strategic plans for the coming year factor in these
• CSR & emergency support for COVID specific global trends and we are confident and well prepared
quarantine and ICU wards working and in line to embrace the new Normal.
with group efforts.
• Hospitals, clean-rooms, air-lock spaces, isolation &
containment facilities Sincerely yours,
Amit Sharma
• Import substitutions / localisation
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