As the newly appointed Chairman of the Murugappa Group, I feel privileged and honoured by the opportunity to lead the Group. Our Group is rich in tradition and I am well aware of the responsibility that this places on me.

We are fortunate to be based in India which, as a country, is expected to have an average GDP growth rate between 6 to 7% for the next three years. In this scenario I am committed to lead the Group to achieve a three times GDP growth over the next five years. I am also committed to achieving this growth while enhancing the reputation of the Group as a creator of value through its values.

I take this opportunity to share with you the key strategic themes for our Group that have been built ground-up and are firmly rooted in the current competitive reality. These themes also reflect our aim to keep growing.

• We need sound risk assessment processes that give us the confidence to take calculated risks

• We need a vibrant culture of “Corporate Entrepreneurship” that can combine the best of both professionalism and entrepreneurship

• We need agility in identifying and meeting customer needs, in executing our plans to stay ahead of the competition.

• We need to work with the belief that our success is not an entitlement but has to be earned by continuous improvement

I believe our success depends on how well we manage and embed these key strategic themes in our companies. With all your active involvement and support, I look forward to leading the Murugappa Group into a new and bright horizon.

Best Regards,

A. Vellayan
November 2009