INTELLECTUAL CAPITAL

IDEAS POWER

SDGs IMPACTED

Our proactive approach to staying competitive and meeting the evolving needs of our customers in the buildings material industry is exemplified by our innovative product development strategies. These strategies include the introduction of technology driven products and the revamping of brand communication methods. By ensuring the highest product quality, and integrating digitalisation and technology to achieve operational excellence, we are reinforcing our readiness for the future.

KEY HIGHLIGHTS

2

Patented products

New Packaging

Focussed on mother brand Nuvoco

24 Hours

Assured response time to customer complaints

AI & ML focus

To create an ecosystem for process automation across all our plants

CAPITAL TRADE-OFFS

INTELLECTUAL CAPITAL

CAPITALS IMPACTED
  • Financial

  • Manufactured

  • Social and Relationship

STAKEHOLDERS IMPACTED
  • Employees

  • Customers

  • Communities

  • Regulatory Authorities

  • Value Chain Partners

MATERIAL ISSUES ADDRESSED
  • Sustainable Product
    Innovation

  • Data Security &
    Privacy

  • Customer-Centricity

KEY FOCUS AREAS IMPACTED
  • Brand Strengthening

  • Premiumisation

PROTECTING OUR INNOVATIONS

At Nuvoco, our dedication to innovation guides our product strategy. This is reflected in the diverse strengths of our premium products – from exceptional strength & durability to water-repellent properties. Our products aim not only to provide enhanced aesthetics, but also superior bonding strength and longevity compared to conventional options. During the year, we have revamped our packaging designs to align our Company brand with its sub-brands. This strategic move enhances the prominence of the Nuvoco mother brand.

In FY 2023-24, we have been granted patent for ‘Fibre Reinforced Cement Composition,’ with effect from June 07, 2023 which is valid for 20 years. This is in addition to the earlier patent on the ‘Water Resistant Cement Composition’. We also have taken proactive measures to safeguard our intellectual property rights. We have sought copyright protection for ‘Milan’ and ‘Vriddhi,’ which are integral to our customer relationship management programme.

MAINTAINING PRODUCT QUALITY

Our product quality management system is a comprehensive strategy aimed at delivering high-quality products while maintaining efficiency and sustainability. Some of the key processes that we follow to ensure product quality include:

  • Conducting regular studies to assess product performance and market positioning, ensuring products meet or exceed expectations.
  • Closely monitoring compliance with Internal Quality Protocols (IQPs) and BIS standards and addressing non-compliance issues to meet required quality standards.
  • Focussing on the usage of the right amount of raw materials, balancing quality, and cost efficiency.
  • Addressing customer complaints within 24 hours, analysing trends, and implementing corrective actions promptly.
  • Regularly reviewing at all levels to ensure quality performance is monitored and addressed, with daily operational meetings and monthly leadership assessments.

Additionally, technology and automation are used to monitor quality parameters and ensure consistency. The Company distinguishes itself in the cement industry through its dedication to continuous improvement, sustainability, and efficiency.

INTEGRATING INFORMATION TECHNOLOGY

Throughout the year, the Company has been proactive in implementing impactful IT initiatives. These efforts were aimed towards enhancing efficiency, automating processes, and delivering exceptional customer service. Here are some of the key highlights:

  • Unification of SAP Instances

    We have successfully merged two separate SAP instances—NVCL and NVL— into a single cohesive system & processes, resulting in several benefits. Unified SAP instances have enhanced functionalities of production planning, cross sourcing, and product costing. Master data management is now more efficient and consistent, reporting formats are standardised across the group, and users enjoy a seamless experience with single sign-on access to multiple applications. Furthermore, the unified SAP system is fortified against cyber threats, significantly reducing the risk of unauthorised access, data breaches, and insider threats.

  • Reverse Bidding Engine

    During the year, we have implemented a reverse bidding engine specifically for freight management at Nimbol Cement Plant resulting in cost-effectiveness and operational efficiency. Encouraged by this success, the Company has also replicated the model at Chittor Cement Plant.

  • AI and ML Ecosystem

    Our focus on Artificial Intelligence (AI) and Machine Learning (ML) aims to create an ecosystem for process automation across all our plants. The pilot projects undertaken include:

    • Development of a dashboard optimising waste heat recovery systems (WHRS) and kiln operations for maximum output.
    • Launch of another AI project that determines best fuel combinations based on factors like moisture content and cost and other essential parameters.
  • Customer Service and IT Service Management

    Our commitment to customer service is demonstrated through the deployment of the IT Service Management tool NuvoDESK. This tool enables the users to easily log tickets, track progress, and ensure adherence to service level agreements (SLAs).

    Additionally, we have prioritised security by implementing a secure SD WAN for remote user connections. The integration of IP 21 as a Distributed Control System (DCS) provides real-time visibility and process optimisation, enhancing overall plant reliability. We have also introduced a workflow-based system for project approvals. This simplifies new project development and ensures efficient decision-making.