enabled us to deliver our products to our customers in accordance with their designs and specifications at a cost
competitive manner.

We have utilized our in-house engineering and design capabilities to developed a diverse product portfolio
including material handling equipment such as hoists, crane kits, industrial gears/ gear boxes, storage solutions,
marine engines and accessories, tool room, mould base products and SPM (which includes metal cutting and non-
metal applications such as washing/ leak testing solutions), which are available to us for our captive use and
application as well, and support our contract manufacturing operations, while also reducing the need for us to rely
on third party component manufacturers or suppliers.

Our plant configurations are flexible, allowing us to move our machinery from one location to another to
interchange capacity, product mix, including our ability to shift production lines between our various segments,
based on customer and operational requirements from time to time. This enables us to offer a diverse range of
products and services to our customers across a wide spectrum of industries in all three segments, thereby
optimizing our machine productivity, operational efficiency, time management and de-risking our business model.

Our delivery of consistent high quality of products has led to receive various awards and accolades including the
“Quality Excellence Award” at GE India Supplier Conference and the “Quality Excellence Award” at TATA
Motors Annual Supplier Conference 2019. For further details on our recent awards and accolades, see “~- Awards
and Recognitions” on page 185.

We are certified for international quality management systems ISO 9001:2008, ISO/TS 16949:2009, and SO
14001 2004 by TUV Nord, and have implemented environmental management system ISO 14001:2004.

Long term and well established relationships with marquee domestic and global OEMs.

We have strong and well established relationships with several marquee domestic and global OEMs as well as
component manufacturers, including certain of our key customers, to which we have been supplying our products
and solutions for over 10 years, such as Tata Motors and Tata Cummins. Our key customers include Daimler
India, Tata Motors, Tata Cummins, Mahindra & Mahindra, Royal Enfield, Mitsubishi Heavy Industries, Siemens
India, Escorts, Ashok Leyland, Simpson & Company, TAFE Motors and Tractors, Perkins India, John Deere and
JCB India. We have significant presence and customer relationships in each of our business segments and are
considered as a strategic and preferred supplier by many of our OEM customers. We are also the single source
supplier in certain product categories, for some of our key customers. Our success in leveraging our strong
customer relationships is illustrated in the growth of our business over the years.

With our track record and wide product portfolio, we have been able to retain our existing customers and have
also been able to attract new customers. Set forth below are the sales to our key customers, segregated on the basis
of the years of relationship with such customers:

The details of the sales to our key customers of our revenue from operations are as follows
(in & million)

 

Key customers Nine months ended Fiscal 2020 Fiscal 2019 Fiscal 2018
relationship December 31, 2020
Five years and less 1,662.60 2,410.78 2,374.71 1,379.84
More than five years but 692.16 1,097.97 1,117.87 1,077.31
less than 10 years
10 years and more 5,604.95, 7,909.46 10,248.70 8,872.41

 

We have a consistent track record of adding new customers to our portfolio and spreading across geographies. We
are diversified across customers with our top 10 customers accounting for 59.15%, 53.41%, 56.25% and 52.59%
of our revenue from operations in the nine months ended December 31, 2020 and Fiscals 2020, 2019 and 2018,
respectively. Our diversified engineering, comprehensive solutions and high quality, intricate and critical
products, components and parts, process and product design capabilities have been critical in sourcing new
customers and our ability to retain such customers and generate revenue from new customers. Our domestic and
global OEM customers have stringent selection procedures and product specifications for procurement from third
party suppliers such as us, including in terms of supplier audit, testing, trial runs, periodic reviews and inspections
of our procurement, manufacturing, logistical and other capabilities and performance. Our track record of having
established and maintained long term relationships with multiple such customers illustrates our commitment to
successfully serve and meet the requirements of our customers, through the supply of quality products and
solutions. We have significantly benefitted from our strong relationships with our customers, which has

172
