Gujchem Distillers India Ltd

Dear Shareholders,

I take immense pleasure in penning my thoughts in this communique. In this milieu, I am happy to report that your Company has done satisfactorily. This is Gujchem's Eighty Fourth Integrated Annual Report for the year ended March 31, 2023. The year under review has also been another year of turbulence with the world economy hit by the geopolitical uncertainties and mounting inflationary pressures largely attributable to the persisting Russia-Ukraine war leading to impaired growth of major economies, despite the receding effects of the pandemic. While Indian economy remained resilient, aided by healthy performance by agriculture and service sectors, agrochemical sector witnessed inventory pile-up and demand contraction owing to excess supplies in the market in the last couple of quarters.

Our aim in producing this report is to provide a comprehensive and detailed overview of the Company's operations, strategy, and performance. In this report, we look at the trends and challenges in our business, at our strategies, and at how we create value through a responsible approach towards business. Our Integrated and sustainable thinking is intrinsic to how we manage our business and create value for our stakeholders.

The new year has witnessed a change in the leadership of the Company with the erstwhile Managing Director stepped down from the office of Manging Director. I would at the same time welcome Ms. Viraj Samirbhai Shah as Whole-Time Director of your Company and I am confident that the Company will usher in a new phase of profits and growth under her able stewardship. I wish to convey my heartiest congratulations to the management team for having achieved this performance have no doubt that the Company would continue to excel and establish new records through its performance in the years ahead.

The financial and statutory data presented in this report are in line with the requirements of the Companies Act, 2013 and rules notified thereunder, the Indian Accounting Standards, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Secretarial Standards.

Our dedicated team members are at the core of our achievements, and their single-minded commitment and passion are the driving forces behind our success., We foster a culture of excellence, collaboration and continuous learning, ensuring consistent delivery of superior quality and service to our esteemed clients. As we strive to accelerate growth, we remain steadfast in attracting and retaining top talent, cultivating a supportive and inclusive work environment and offering the right opportunity for professional development. The dedication and expertise of our team allow us to overcome challenges and seize new opportunities in the dynamic business landscape. Sustainability and community responsibility are deeply ingrained in our corporate values. We recognise the importance of being environmentally conscious and actively contribute to the well-being of our communities.

With a strong commitment to sustainability, we strive to minimise our ecological impact through efficient resource management and the adoption and implementation of sustainable practices. Moreover, we believe in making a positive difference in the lives of those around us by supporting social initiatives, empowering marginalised groups and promoting sustainable development.

I extend my deepest gratitude to our esteemed shareholders who stood with us and believed in our vision. I would also like to express our sincere thanks to the state and central governments, our customers, vendors, bankers, Merchant bankers, Registrars and all other stakeholders who have played a crucial role in our journey. Together, we will continue to navigate uncertainties and seize opportunities, ensuring a prosperous future for our company and all our stakeholders.