Dear Stakeholders,
It is my proud privilege to present to you the 19th Annual Report of Shankar Lal Rampal
Dye Chem Limited for the financial year 2023-24. On behalf of the Board of Directors and
employees, I am delighted to have the opportunity to reflect on our accomplishments over
the past year and share our vision for the future.
"Success comes to those who act." – Dr. A.P.J. Abdul Kalam
Your continued support and trust have been our guiding light, inspiring us to provide
stability to our operations. This year, we have grown our business and increased our
profitability, enabling us to enhance our competitiveness and create value for
shareholders. Year by year, our company is stepping ahead and getting stronger.
Performance and Growth
Despite facing numerous challenges, including rising energy costs, shipping costs, and
logistical constraints, our team demonstrated remarkable resilience. Our revenue for FY
2023-24 was Rs. 287.73 Crores, compared to Rs. 323.45 Crores in the previous year. While
there was a decrease in revenue, we have maintained strong operational performance and our
core business fundamentals remain robust.
"Be the change you wish to see in the world." – Mahatma Gandhi
Strategic Initiatives
We are pivoting towards sustainable applications and green chemistries for growth. Our
core portfolio, led by various organic dyes, has been instrumental in driving our
progress. Investments in research and development have led to innovative and eco-friendly
products, aligning with our commitment to sustainability.
Our focus on enhancing our supply chain and maintaining seamless operations has been
crucial. Agile teamwork, coupled with efficient operations and a resilient supply chain,
ensured uninterrupted supplies to our customers across geographies.
Enhancing Shareholder Value
Despite challenges in logistics, increasing material costs, and economic slowdowns, we
managed to increase our sales and customer base. This growing market valuation of our
products is due to Shankar Lal Rampal Dye Chem Limited’s differentiated strategy and
your firm belief in the sustainability and growth of our company. We are also committed to
maintaining the continuity of paying dividends.
"Dare to dream and care to achieve." – Swami Vivekananda
Sustainability and Corporate Social Responsibility
This year, we spent funds on various CSR projects, supporting education, healthcare,
child development, and environmental conservation. Our efforts reflect our dedication to
making a positive impact on the communities we serve.
Outlook on the Indian Economy
The Indian economy continues to be one of the fastest-growing in the world, with strong
fundamentals and a focus on digitalization and sustainability. Government initiatives
aimed at boosting infrastructure and innovation are expected to strengthen the economic
landscape. We believe these trends will create a conducive environment for the dyes and
chemicals industry.
"A small body of determined spirits fired by an unquenchable faith in their
mission can alter the course of history." – Mahatma Gandhi
In closing, I express my heartfelt gratitude to our shareholders, customers, employees,
and partners for their unwavering support and trust. Your confidence in Shankar Lal Rampal
Dye Chem Limited inspires us to strive for excellence and achieve greater heights.
Thank you for being part of our journey.
~Rampal Inani
Chairman & Managing Director